Fig. 9
From: The effect of an electricity tax on aggregate electricity consumption: evidence from Basel
Robustness. Notes: The figure depicts Kernel density estimates of the distribution of the estimated average reduction of electricity consumption for 1000 permutations for specification (ii) in Panel A and specification (iii) in Panel B. The variables to be approximated are the average pre-tax electricity consumption and the determinants of electricity consumption in specification (ii) and only the determinants in specification (iii). The figure also shows the estimates based on the lowest root mean squared prediction error and the lowest difference of the pre-tax variables (see Section 3 and footnote 6 for details)