Accounting for asymmetric price responses while modelling industrial energy demand is required for a good understanding of the long-run properties of energy demand. This is to prevent formulating energy related policies on incomplete information resulting from masking the impacts of long-run impacts of different phases of energy price. Hence, this paper explores the asymmetric price responses of industrial energy demand for a panel of 54 sectors across 34 countries over the period 2000–2014 using a dynamic hierarchical model. The empirical results from both the regional and sectoral analysis indicate a considerable heterogeneity in the estimated long-run elasticities and preference for using hierarchical model. Further, the estimated elasticities in general indicate that producers are more responsive to price increases than price decreases. In addition, empirical findings reveal that industrial energy demand is characterised by endogenous factors embedded in the asymmetric price effects. From a policy perspective, these findings provide an evidence of marked long-run impacts of energy demand (that are not observable from a traditional symmetric energy consumption pattern) required in formulating dependable energy policies.

为了更好地了解能源需求的长期属性，需要在对工业能源需求进行建模时考虑价格不对称的响应。这是为了防止针对由于掩盖不同阶段能源价格的长期影响而导致的不完整信息制定与能源有关的政策。因此，本文使用动态分层模型探索了34个国家/地区的54个部门的工业能源需求在2000-2014年期间的不对称价格响应。区域和部门分析的经验结果表明，在估计的长期弹性和使用分层模型的偏好方面，存在很大的异质性。此外，估计的弹性通常表明生产者对价格上涨的反应比价格下跌的反应更大。此外，经验结果表明，工业能源需求的特征在于不对称价格效应中嵌入的内生因素。从政策的角度来看，这些发现为制定可靠的能源政策所需的能源需求的长期影响（从传统的对称能源消耗模式中无法观察到）提供了证据。