Relationships between Hotel and Restaurant Electricity Consumption and Tourism in 11 European Union Countries
Abstract
:1. Introduction
2. Materials and Methods
2.1. Data
2.2. Model
3. Results and Discussion
4. Conclusions
Acknowledgments
Author Contributions
Conflicts of Interest
References
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Variable | Description | Mean | Std. Dev. | Min. | Max. | Obs. | |
---|---|---|---|---|---|---|---|
E | Hotel and Restaurant electricity consumption (ktoe per thousand inhabitants in logs) | overall | 5.097661 | 1.689213 | 3.188856 | 8.508734 | N = 88 |
between | 1.754979 | 3.198233 | 8.486791 | n = 11 | |||
within | 0.020763 | 5.026690 | 5.178418 | t = 8 | |||
T | Total overnight stays (per thousand inhabitants in logs) | overall | 8.807063 | 0.511674 | 8.200749 | 9.915400 | N = 88 |
between | 0.525529 | 8.312859 | 9.823252 | n = 11 | |||
within | 0.077328 | 8.665719 | 9.269538 | t = 8 | |||
Y | GDP (per thousand inhabitants in logs) | overall | 3.159336 | 0.462218 | 2.106534 | 3.754082 | N = 88 |
between | 0.478739 | 2.160682 | 3.679537 | n = 11 | |||
within | 0.036639 | 3.033032 | 3.242757 | t = 8 | |||
tem | HDD (Heating Degree Days in degrees Celsius in logs) | overall | 7.549002 | 0.592663 | 5.725557 | 8.326285 | N = 88 |
between | 0.600270 | 6.301532 | 8.172024 | n = 11 | |||
within | 0.132196 | 6.973027 | 7.993882 | t = 8 | |||
P | Electricity prices (annual rate of change in harmonized consumer price indices) | overall | 6.556250 | 7.382081 | −14.30000 | 29.1000 | N = 88 |
between | 3.411276 | 2.912500 | 13.3500 | n = 11 | |||
within | 6.611790 | −19.268750 | 22.3062 | t = 8 |
Variables | VIF (Variables) | VIF (Deviations from the Geometric Mean) |
---|---|---|
Y | 1.09 | 1.09 |
T | 270.38 | 1.09 |
T2 | 271.62 | 1.05 |
tem | 1.04 | 1.04 |
Mean VIF | 136.03 | 1.07 |
Variables | CD Test |
---|---|
E | 11.96 *** |
Y | 7.01 *** |
T | 5.08 *** |
T2 | 1.05 |
tem | 9.68 *** |
Variables | Test | Level | First Differences |
---|---|---|---|
Intercept and Trend | Intercept and Trend | ||
E | CIPS | −2.918 * | −2.968 ** |
Y | CIPS | −1.697 | −3.042 ** |
T | CIPS | −1.941 | −3.748 *** |
T2 | MW | 21.1123 | 70.2637 *** |
tem | CIPS | −2.066 | −2.396 ** |
Dependent Variable | Independent Variables | Co-Integration Tests | |||
---|---|---|---|---|---|
Gt | Ga | Pt | Ga | ||
E | T, T2 | −0.809 | −0.388 | −0.140 | −0.009 |
Wooldridge Test | Wald Test |
---|---|
0.223 | 2396.03 *** |
FGLS (a) | FGLS (b) | FGLS (c) | FGLS (d) | FGLS (e) | |
---|---|---|---|---|---|
T | 0.020 *** (0.006) | 0.022 *** (0.006) | 0.028 *** (0.007) | 0.024 *** (0.005) | 0.026 *** (0.009) |
T2 | 0.012 ** (0.007) | 0.014 ** (0.007) | 0.020 *** (0.007) | 0.027 *** (0.006) | 0.024 *** (0.007) |
P | - | −0.00003 (0.000) | −0.00002 (0.000) | −0.00005 (0.000) | - |
Tem | - | - | 0.012 *** (0.004) | 0.012 *** (0.004) | 0.014 *** (0.003) |
Y | - | - | - | 0.040 *** (0.007) | 0.048 *** (0.010) |
Country | Average Elasticity | Country | Average Elasticity |
---|---|---|---|
Cyprus | 0.074 | The Netherlands | 0.012 |
Denmark | 0.011 | Portugal | 0.004 |
France | 0.015 | Spain | 0.035 |
Germany | 0.001 | Sweden | 0.012 |
Italy | 0.023 | United Kingdom | 0.003 |
Malta | 0.077 |
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Pablo-Romero, M.P.; Sánchez-Braza, A.; Sánchez-Rivas, J. Relationships between Hotel and Restaurant Electricity Consumption and Tourism in 11 European Union Countries. Sustainability 2017, 9, 2109. https://doi.org/10.3390/su9112109
Pablo-Romero MP, Sánchez-Braza A, Sánchez-Rivas J. Relationships between Hotel and Restaurant Electricity Consumption and Tourism in 11 European Union Countries. Sustainability. 2017; 9(11):2109. https://doi.org/10.3390/su9112109
Chicago/Turabian StylePablo-Romero, Maria P., Antonio Sánchez-Braza, and Javier Sánchez-Rivas. 2017. "Relationships between Hotel and Restaurant Electricity Consumption and Tourism in 11 European Union Countries" Sustainability 9, no. 11: 2109. https://doi.org/10.3390/su9112109
APA StylePablo-Romero, M. P., Sánchez-Braza, A., & Sánchez-Rivas, J. (2017). Relationships between Hotel and Restaurant Electricity Consumption and Tourism in 11 European Union Countries. Sustainability, 9(11), 2109. https://doi.org/10.3390/su9112109