In this study, we examined the impacts of population age groups of 0–14, 15–64 and 65-above on residential electricity consumption in Azerbaijan within the STIRPAT framework. Unlike many prior studies of STIRPAT framework, we analyzed this impact, employing co-integration and error correction method in order to rule out possible spurious estimation results caused by non-stationary data used. Results from the Autoregressive Distributed Lags Bounds Testing approach, which is the preferred method among alternatives in the case of small samples, indicated that the affluence together with age groups have significant impact on the residential electricity consumption in Azerbaijan and the biggest effect comes from the age group of 15–64, which is the working age population. Another finding of the study is that if there is any (economic, social, environmental, etc.) shock to the system that initially affect residential electricity consumption and affluence, the whole shock will be absorbed by the system less than in one year. Findings of the study may be useful in making appropriate decisions in the fields of residential electricity consumption. © 2017 The Regents of the University of California
Research Fellow Fakhri is a research fellow leading the KAPSARC Global Energy Macroeconometric Model (KGEMM) project. Previously, he was an associate professor… Fakhri is a research fellow leading the KAPSARC Global Energy Macroeconometric Model (KGEMM) project. Previously, he was an associate professor and director of the Center for Socio-Economic Research at Qafqaz University, Azerbaijan. He has served as a deputy director of the Research Institute at the Ministry of Economic Development, and a senior economist at the Research Department of the Central Bank of Azerbaijan Republic. He received a Fulbright Post-Doctoral Scholarship and conducted a research on building and applying a macroeconometric model for policy analysis at the George Washington University. Fakhri is a member of the research program on forecasting at the George Washington University and the editorial board of the Asian Journal of Business and Management Sciences. His research interests and experience span econometric modeling and forecasting, building and applying macroeconometric models for policy purposes, energy economics with a particular focus on natural resource-rich countries.
Expertise
- Applied macroeconometrics
- Energy economics
- Time series modeling and forecasting
Publications See all Fakhri Hasanov’s publications
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In this study, we examined the impacts of population age groups of 0–14, 15–64 and…
11th September 2022
