Models, Data and Tools Oil Market Shocks and Financial Instability in Asian Countries Fakhri Hasanov, Leila Dagher There is no commodity whose interlinkages with the macroeconomy have been studied as extensively as oil, starting with Hamilton’s (1983) seminal study. Thousands of subsequent studies have examined the relationship between oil prices and various economic variables, including the stock… Hasanov, Fakhri Dagher, Leila
Models, Data and Tools Sectoral Investment Analysis for Saudi Arabia Muhammad Javid, Fakhri Hasanov, Carlo Andrea Bollino, Marzio Galeotti This study aims to investigate the determinants of short- and long-run investment behavior in Saudi Arabia for eight non-oil sectors. Saudi Arabia is currently proceeding with its historic Vision 2030 reform plan, which aims to significantly increase the private sector’s… Javid, Muhammad Hasanov, Fakhri Bollino, Carlo Andrea Galeotti, Marzio
Models, Data and Tools Saudi Non-oil Exports Before and After COVID-19: Historical Impacts of Determinants and Scenario Analysis Fakhri Hasanov, Fred Joutz, Muhammad Javid The diversification of the non-oil sector, including its exports, is at the core of Saudi Vision 2030. This study investigates Saudi non-oil exports in a novel way. Specifically, it differs from previous studies on this topic owing to its modeling… Hasanov, Fakhri Joutz, Fred Javid, Muhammad
Models, Data and Tools Long-run Effects of Real-time Electricity Pricing in the Saudi Power Sector Walid Matar This study explores the potential effects of real-time electricity pricing on the operations of Saudi Arabia’s power generation sector. The Kingdom currently sets fuel prices for power utilities at levels that suppress the costs of power generation. However, this analysis… Matar, Walid
Models, Data and Tools Policies to Nationalize the Private Sector Labor Force in a Matching Model with Public Jobs and Quotas Olivier Durand-Lasserve Gulf Cooperation Council (GCC) countries aim to employ more of their nationals in the private sector to absorb the inflow of new entrants into the labor force. They have put in place workforce nationalization policies to revert two peculiar features… Durand-Lasserve, Olivier
Models, Data and Tools Residential Energy Model for Evaluating Energy Demand and Energy Efficiency Programs in Saudi Residential Buildings Mohammad Aldubyan, Moncef Krarti, Eric Williams This paper describes the development of the Residential Energy Model (REEM) for Saudi Arabia using an engineering bottom-up approach. The model can assess energy demand for the current residential building stock and the impact of energy efficiency and demand-side management… Aldubyan, Mohammad Krarti, Moncef Williams, Eric
Regional Energy Markets Models, Data and Tools Electricity Sector Transitions Saudi Arabia Energy Report Abeer AlGhamdi Saudi Arabia is one of the world’s leading oil producers and exporters. It has the second-largest proven crude oil reserves after Venezuela. Saudi Arabia’s oil reserves have made it one of the most significant players in the global oil market.… AlGhamdi, Abeer
Models, Data and Tools Fiscal Multipliers for Saudi Arabia Revisited H.E. Dr. Majid Al Moneef, Fakhri Hasanov Fiscal policy lies at the heart of key macroeconomic and budgetary decisions and is central to understanding the dynamics of oil rich economies. Fiscal multipliers, including spending multipliers, indicate how changes to fiscal policy can stimulate economic growth, to what… H.E. Dr. Majid Al Moneef Hasanov, Fakhri
Models, Data and Tools Regional Heterogeneous Drivers of Electricity Demand in Saudi Arabia Jeyhun Mikayilov, Abdulelah Darandary, Ryan Alyamani, Fakhri Hasanov, Hatem Al Atawi Aggregate residential electricity consumption in Saudi Arabia has increased rapidly over the past several decades, largely due to population increases and fast economic growth (SAMA 2019). The growth in electricity consumption has been driven, among other factors, by government-administered prices… Mikayilov, Jeyhun Darandary, Abdulelah Alyamani, Ryan Hasanov, Fakhri Al Atawi, Hatem
Models, Data and Tools Sectoral and Economy-Wide Effects of Domestic Energy Price Reforms in Saudi Arabia Olivier Durand-Lasserve, Hossa Almutairi, Abdullah AlJarboua, Frederic Murphy, Shreekar Pradhan, Axel Pierru This paper simulates the sectoral and economy-wide consequences of deregulating energy prices in Saudi Arabia. Our analysis is based on KAPSARC’s general equilibrium energy model (KEMGE), a new hybrid computable general equilibrium model (CGE). The model examines the effects of… Durand-Lasserve, Olivier Almutairi, Hossa AlJarboua, Abdullah Murphy, Frederic Pradhan, Shreekar Pierru, Axel
Models, Data and Tools Analyzing the Effects of Saudi Arabia’s Economic Reforms Using a Dynamic Stochastic General Equilibrium Model Jorge Blazquez, Marzio Galeotti, Baltasar Manzano, Axel Pierru, Shreekar Pradhan Saudi Arabia is the world’s second-largest holder of proved oil reserves and the second-largest producer of petroleum liquids. The country is the largest exporter of crude oil, with a share of 16% of total crude oil exports in 2017. Saudi Arabia’s… Blazquez, Jorge Galeotti, Marzio Manzano, Baltasar Pierru, Axel Pradhan, Shreekar
Models, Data and Tools Electricity Demand Modeling in Saudi Arabia: Do Regional Differences Matter Jeyhun Mikayilov, Fakhri Hasanov, Waheed Olagunju, Mohammad H. Al-Shehri Energy is a pervasive input to all business and recreational activities. As such, total energy demand is an important indicator that helps explain the pattern of economic development within a country. Identifying and understanding the key determinants of electricity demand… Mikayilov, Jeyhun Hasanov, Fakhri Waheed Olagunju Mohammad H. Al-Shehri
Electricity Sector Transitions Climate Change Policies and Governance Models, Data and Tools Is Saudi Arabia Getting Warmer? Nawaz Peerbocus, Hatem Al Atawi, Turki Alaqeel, Abdulrahman AlJulaifi According to NASA, the world is getting warmer. Warmer weather increases the demand for cooling, which subsequently increases the demand for electricity. Is Saudi Arabia getting warmer? And how might this impact the demand for electricity in the Kingdom? To… Peerbocus, Nawaz Al Atawi, Hatem Alaqeel, Turki AlJulaifi, Abdulrahman
Models, Data and Tools KGEMM: A Macroeconometric Model for Saudi Arabia Fakhri Hasanov, Fred Joutz, Jeyhun Mikayilov The KAPSARC Global Energy Macroeconometric Model (KGEMM), is a policy analysis tool for examining the impacts of domestic policy measures and global economic and energy shocks on the Kingdom of Saudi Arabia. Hasanov, Fakhri Joutz, Fred Mikayilov, Jeyhun
Models, Data and Tools Gasoline Demand in Saudi Arabia: Are the Price and Income Elasticities Constant? Jeyhun Mikayilov, Fred Joutz, Fakhri Hasanov After the drop in international oil prices in 2014, oil-exporting countries started to launch new policies to develop their economies. It is important that policymakers involved in energy and economic development understand how economic agents respond to increased energy prices… Mikayilov, Jeyhun Joutz, Fred Hasanov, Fakhri
Models, Data and Tools The Growth of India’s Electricity Generation Capacity Yagyavalk Bhatt Coal power plants accounted for 57% of India’s total generation capacity of 344 gigawatts (GW). Bhatt, Yagyavalk
Models, Data and Tools The Changing Impact of Income and Price on Gasoline Demand in Saudi Arabia Jeyhun Mikayilov, Fred Joutz, Fakhri Hasanov The growth path of gasoline demand, a key strategic fuel, has important implications for oil security, oil-related carbon emissions, and refinery investment (Dahl 2012). As such, understanding how fluctuations in income and gasoline prices could affect the demand for oil… Mikayilov, Jeyhun Joutz, Fred Hasanov, Fakhri
Models, Data and Tools Theoretical Framework for Industrial Electricity Consumption Revisited Fakhri Hasanov Policymakers should expect that the energy price reform in Saudi Arabia will reduce industrial electricity consumption. However, this reduction will be slight as the price effect is found to be very small. At the same time, policymakers should be aware… Hasanov, Fakhri
Models, Data and Tools Political Feasibility of Enhancing the Russian Emissions Reduction Target Under the Paris Agreement Imtenan Al-Mubarak, Saleh Al Muhanna, Zlata Sergeeva It is widely recognized that the commitments set out in the Paris Agreement fall short of achieving the 2 degrees Celsius global warming target, agreed as the central goal of the agreement and its parties. Given this, KAPSARC has set… Al-Mubarak, Imtenan Al Muhanna, Saleh Zlata Sergeeva
Models, Data and Tools Assessing Politics in Market Projections-Restarting Japanese Nuclear Reactors and Global Gas Markets Saleh Al Muhanna, Rami Shabaneh This paper explores the value of explicitly integrating the modeling of political concerns into a model of energy market projections. This is achieved by assessing the impact on global gas markets of political constraints on restarting Japanese nuclear reactors. The… Al Muhanna, Saleh Shabaneh, Rami