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| Author: | Nauges, C. Thomas, A. |
| Title: | Long-run study of residential water consumption |
| Journal: | Environmental and Resource Economics
2003 : SEP, VOL. 26:1, p. 25-43 |
| Index terms: | Environmental economics Econometric models Water resources Water supply industry Prices |
| Language: | eng |
| Abstract: | The authors show that a dynamic model of water consumption can be derived from a structural optimisation program solved by local communities. This nonlinear model is estimated on a sample of French municipalities and is found asymptotically equivalent to a dynamic panel data model that is linear in the parameters. The authors propose a new Generalized Method of Moments (GMM) procedure that yields consistent and efficient estimates of short- and long-run price elasticities. |
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