Modeling Mineral and Energy Markets - Hardcover

Labys, Walter C.

Hardcover

ISBN 10: 0792383729 ISBN 13: 9780792383727

Publisher: Springer, 1998

Synopsis

This book provides a framework for analyzing and forecasting a variety of mineral and energy markets and related industries. Such modeling activity has been at the forefront of the economic and engineering professions for some time, having received a major stimulus fC?llowing the first oil price shock in 1973. Since that time, other shocks have affected these markets and industries, causing disequilibrium economic adjustments which are difficult to analyze and to predict. Moreover, geopolitics remains an important factor which can destabilize crude oil markets and associated refining industries. Mineral and energy modeling, consequently, has become a major interest of energy-related corporations, mining and drilling companies, metal manufacturers, public utilities, investment banks,. national government agencies and international organizations. This book hopes to advance mineral and energy modeling as follows: (1) The modeling process is presented sequentially by leading the model builder from model specification, estimation, simulation, and validation to practical model applications, including explaining history, analyzing policy, and market and price forecasting; (2) New developments in modeling approaches are presented which encompass econometric market and industry models, spatial equilibrium and programming models, optimal resource depletion models, input-output models, economic sector models, and macro­ oriented energy interaction models (including computable general equilibrium); (3) The verification and application of the models is considered not only individually but also in relation to the performance of alternative modeling approaches; and (4) The modeling framework includes a perspective on new directions, so that the present model building advice willextend into the future.

About this title

Synopsis

This text provides a framework for analyzing and forecasting a variety of mineral and energy markets and related industries. Such modelling activity has been at the forefront of the economic and engineering professions for some time, having received a major stimulus following the first oil price shock in 1973. The book seeks to advance mineral and energy modelling by first presenting the modelling process sequentially by leading the model builder from model specification, estimation, simulation, and validation to practical model applications, including exploring history, analyzing policy, and market and price forecasting. New developments in modelling approaches are then presented which encompass econometric market and industry models, spatial equilibrium and programming models, optimal resource depletion models, input-output models, economic sector models, and macro-oriented energy interaction models. The verification and application of the models is considered individually, and also in relation to the performance of alternative modelling approaches.

The modelling framework includes a perspective on new directions, so that the present model-building advice can be extended into the future.

Edition details

• Publisher: Springer
• Publication date: 1998
• Language: English
• ISBN 10: 0792383729
• ISBN 13: 9780792383727
• Binding: Hardcover
• Number of pages: 188