Modelling the Aggregate Demand for Electricity Simplicity Vs Virtuosity

Cover Modelling the Aggregate Demand for Electricity Simplicity Vs Virtuosity
Modelling the Aggregate Demand for Electricity Simplicity Vs Virtuosity
Ernst R Berndt
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125) r2 . 934 . 998 . 839 . 840 . 812 . 812 . 889 Notes to Table 2: M is money income, P_2 is the marginal electricity price lagged two years, P_q is the current electricity marginal price, AP_q is the ex post average electrticity price in the current period, G_2 is the marginal natural gas price lagged two years. H is the average holdings (in kilowatts) of heavy electric equipment bought on hire purchase by domestic two-part customers in 1937-38, and F is average fixed charge for domestic two-...part customers in 1937-38.
Column 1 reproduces results as reported by Houthakker [1951b, p. 367], while Column 2 presents my attempt at replication based on Houthakker's published data [1951b, pp. 364-365]. Both columns represent estimates adjusted for heteroscedasticity (i. E. , both are "weighted" regressions). Columns 3-7 report various "unweighted" estimates (not adjusted for heteroscedasticity).
na = not available from Houthakker's reported results.
12 In column 2 of Table 2 I present results of my attempt to replicate Houthakker 's empirical findings.


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