This chapter analyses the problems of modelling and the underlying energy demand trend (UEDT) when estimating energy demand models. In particular, it emphasizes the need to ensure that a flexible approach is adopted so that the UEDT captures the important variables which as income and price.
|Title of host publication||Energy in a competitive market: essays in honour of Colin Robinson|
|Place of Publication||Cheltenham|
|Publisher||Edward Elgar Publishing|
|Number of pages||35|
|Publication status||Published - 2003|