Abstract

GOMEZ-LOPEZ, Claudia S.  and  PUCH, Luis A.. Uso, precio y gasto de energía en la economía mexicana. EconoQuantum [online]. 2012, vol.9, n.2, pp.123-139. ISSN 2007-9869.

This paper studies the response (sensitivity) of energy use in a developing, oil-producing economy such as Mexico's to shocks in the international price of a representative bundle of energy goods. Many studies have shown how energy price movements during the seventies resulted in major changes in energy use in OECD economies. Empirical evidence has shown that when time-series data is used, energy use is not sensitive to changes in international energy prices, whereas it is when cross-sectional data is used. Non-standard theory has been used to present this evidence. In this paper, we explore this evidence for an oil-producing and exporting economy. We show that the model that can explain patterns of energy use, expenditure and price in developed, energy-importing economies can do the same for an energy-producing and exporting economy, though with certain limitations, which are highlighted in the text and are of interest in related applications.

Keywords : energía; modelos PuttyClay.

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