The effect of the economic crisis on residential electricity demand in Cyprus and Greece


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2016 (EN)
The effect of the economic crisis on residential electricity demand in Cyprus and Greece (EN)

Anastasis, Katsimichas (EN)

School of Science and Technology, MSc in Energy Systems (EL)
Psychogios, Dimitrios (EN)
Zachariadis, Theodoros (EN)

This thesis aims at analyzing the determinants of residential demand in two countries that have experienced a significant economic downturn in recent years. Therefore, the research expands upon a lengthy literature review on empirical energy demand modelling that gradually focuses on the study of residential electricity demand using time-series data. Accordingly, the explanatory power of income and price elasticities in the context of a widely applied log - linear equation provide s a parsimonious specification in order t o test the electricity demand of the Cypriot and Greek households. The two countries were chosen in the context of the research’s explicit motivation towards identifying the impact of the latest severe economic recession on income elasticities. In this respect, this work complements recent studies in the residential electricity demand of Cyprus and Greece that utilized data prior to the recession . For this purpose, the Autoregressive Distributed Lag Model (ARDL) Bounds Testing approach to cointegration was chosen to run the appropriate regressions and deliver the long run estimates . Moreover, the corresponding significance of the variables is made available after establishing an equilibrium relationship be tween the m . T he findings vary considerably between the two countries and a detailed justification and evaluation of the results is given as part of the conclusion of this thesis (EN)


Διεθνές Πανεπιστήμιο της Ελλάδος (EL)
International Hellenic University (EN)



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