题目：Disentangling Temporal Patterns in Elasticities: A Functional Coefficient Panel Analysis of Electricity Demand
简介: We introduce a panel model with a nonparametric functional coefficient of multiple arguments. The coefficient is a function both of time, allowing temporal changes in an otherwise linear model, and of the regressor itself, allowing nonlinearity. In contrast to a time series model, the effects of the two arguments can be identified using a panel model. We apply the model to the relationship between real GDP and electricity consumption. Our results suggest that the corresponding elasticities have decreased over time in developed countries, but that this decrease cannot be entirely explained by changes in GDP itself or by sectoral shifts.
Yoosoon Chang is a professor in Department of Economics, Indiana University. Professor Chang’s research and teaching interests are in econometrics, with a special focus in time series and panel data models and their applications in macroeconomics and finance. She has studied various nonstationary and nonlinear time series and panel models and developed new methodologies for valid inference in such nonstandard yet more realistic models for economic data. Her recent research focuses on panels at high frequencies where she uses the data collected at higher frequencies to deal with inferential difficulties in models estimated at conventional low frequencies. Chang’s research has been published in Review of Economic Studies, Journal of Econometrics, Econometric Theory, Econometric Reviews, Journal of Time Series Analysis and Econometrics Journal. Before joining the faculty of Indiana University, Chang spent eleven years at Rice University as an assistant and tenured associate professor of economics, and three years at Texas A&M University as a full professor and head of the department of economics and Naomi Lewis faculty fellow of liberal arts. She is an associate editor of Time Series Econometrics, a program committee member of the International Symposium on Econometric Theory and Applications, an external fellow of Granger Centre for Time Series Econometrics at Nottingham University, an external associate of Centre for Econometric Analysis at Cass Business School in London.