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ID: 111503

Long and the short of it: electoral institutions and the dynamics of party system size, 1950-2005 / Best, Robin E

Best, Robin E	Journal Article
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2012.

Summary/Abstract

While institutional theories of party system size are usually examined cross-nationally, there is ample reason to expect that changes in electoral institutions will affect party system size within countries as well. Although some of this effect may occur immediately, most of the effects are likely to be realised over time and across subsequent elections. A series of error-correction models examine the short- and long-term effects of changes in electoral institutions on party system size. The results indicate that changes in electoral institutions do produce the expected effects on party system size, and that these effects occur mostly over the long term.

Key Words

Electoral System ; Electoral Institutions ; Party System Size ; Error - Correction Model

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ID: 128383

Short- and long-run elasticities of electricity demand in the K / Lim, Kyoung-Min; Lim, Seul-Ye; Yoo, Seung-Hoon

Yoo, Seung-Hoon	Journal Article
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Publication

2014.

Summary/Abstract

This paper attempts to examine the electricity demand function in the Korean service sector using the annual data covering the period 1970-2011. The short- and long-run elasticities of electricity demand with respect to price and income are empirically estimated using a co-integration and error-correction model. The short- and long-run price elasticities are estimated to be -0.421 and -1.002, respectively. The short- and long-run income elasticities are computed to be 0.855 and 1.090, respectively. Electricity demand in the service sector is inelastic to changes in both price and income in the short-run, but elastic in the long-run. Therefore, it appears that a pricing policy is more effective than the direct regulation of reducing electricity demand in the long-run in order to stabilize the electricity demand in the service sector. Moreover, it is necessary to encourage a more efficient use of electricity to cope with increasing demand for electricity following economic growth because the electricity demand in the service sector is income-elastic in the long-run.

Key Words

Elasticity ; Error - Correction Model ; Electricity Demand in Service Sector

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