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      Analyzing the Effects of Saudi Arabia’s Economic Reforms Using a Dynamic Stochastic General Equilibrium Model
      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…

      Jorge Blazquez Blazquez, Jorge
      Marzio Galeotti Galeotti, Marzio
      Baltasar Manzano Manzano, Baltasar
      Axel Pierru Pierru, Axel
      Shreekar Pradhan Pradhan, Shreekar
      21st May 2020
      Sector Coupling, Regulatory Convergence and Climate Change

      Sector Coupling, Regulatory Convergence and Climate Change

      T20

      Climate change goals can be met through both the decarbonization of the electricity sector and the electrification of sectors that now use other fuels. However, the electricity sector is navigating major technological disruptions that are changing the essence of its…

      Rolando Fuentes, Lester C. Hunt, Baltasar Manzano, Nora Nezamuddin, Juan Jose Montero, Mathias Finger

      2020
      K-DSGE: A Dynamic Stochastic General Equilibrium Model for Saudi Arabia

      K-DSGE: A Dynamic Stochastic General Equilibrium Model for Saudi Arabia

      Jorge Blazquez, Marzio Galeotti, Baltasar Manzano, Axel Pierru, Shreekar Pradhan

      This paper describes a dynamic stochastic general equilibrium (DSGE) model of the Saudi Arabian economy, developed by KAPSARC researchers. The K-DSGE model is to be used for simulations and experiments to assess the impact of economic reforms within the Saudi…

      Jorge Blazquez Blazquez, Jorge
      Marzio Galeotti Galeotti, Marzio
      Baltasar Manzano Manzano, Baltasar
      Axel Pierru Pierru, Axel
      Shreekar Pradhan Pradhan, Shreekar
      3rd February 2020
      The ‘IPhone Effect’: The Impact of Dual Technological Disruptions on Electrification

      The ‘IPhone Effect’: The Impact of Dual Technological Disruptions on Electrification

      SAGE Journals

      Meeting climate change goals requires both the decarbonization of the electricity sector and the electrification of much of the rest of the economy. However, the electricity sector is navigating major disruptions that are changing the regulatory and business landscape. This…

      Rolando Fuentes, Lester C. Hunt, Hector G. Lopez-Ruiz, Baltasar Manzano

      2019
      How does Saudi Arabia’s recent energy performance compare with other G20 countries?

      How does Saudi Arabia’s recent energy performance compare with other G20 countries?

      Baltasar Manzano, Rolando Fuentes, Nicholas Howarth

      The 68th annual edition of the BP Statistical Review, released recently, is a comprehensive account and analysis of global energy data. Saudi Arabia will be hosting the G20 summit in 2020, and the release of BP’s annual compilation provides a good opportunity…

      Baltasar Manzano Manzano, Baltasar
      Rolando Fuentes Fuentes, Rolando
      Nicholas Howarth Howarth, Nicholas
      20th August 2019
      The Value of Saving Oil in Saudi Arabia
      Evaluation of Public Investment Projects

      The Value of Saving Oil in Saudi Arabia

      Jorge Blazquez, Baltasar Manzano, Axel Pierru

      What is the value of saving a barrel of oil that would otherwise had been consumed domestically? This study explores the question, taking a long-run perspective into a general equilibrium approach. In the case of Saudi Arabia, the difference between…

      Jorge Blazquez Blazquez, Jorge
      Baltasar Manzano Manzano, Baltasar
      Axel Pierru Pierru, Axel
      25th March 2018
      Prices versus policy: An analysis of the drivers of the primary fossil fuel mix
      Future of Global Oil Markets

      Prices versus policy: An analysis of the drivers of the primary fossil fuel mix

      Energy Policy

      Energy policymakers often attempt to shape their countries’ energy mix, rather than leave it purely to market forces. By calibrating and simulating a Dynamic Stochastic General Equilibrium (DSGE) model, this paper analyzes the primary fossil fuel mix in the USA…

      Tarek Atalla, Lester C. Hunt, Baltasar Manzano

      2017
      The unstudied barriers to widespread renewable energy deployment: Fossil fuel price responses

      The unstudied barriers to widespread renewable energy deployment: Fossil fuel price responses

      Energy Policy

      Renewable energy policy focuses on supporting the deployment of renewable power generators so as to reduce their costs through scale economies and technological learning. It is expected that, once cost parity with fossil fuel generation is achieved, a transition towards…

      Edward Foster, Marcello Contestabile, Baltasar Manzano, Mark Workman, Nilay Shah

      2017
      Prices Versus Policy: An Analysis of the Drivers of the Fossil Fuel Energy Mix
      Energy and Economic Vulnerability

      Prices Versus Policy: An Analysis of the Drivers of the Fossil Fuel Energy Mix

      Jorge Blazquez, Baltasar Manzano

      Understanding how the composition of a country’s energy mix is formed in an environment where greater government involvement is anticipated due to climate change obligations is critical. This paper is part of a project analyzing drivers of the mix and…

      Jorge Blazquez Blazquez, Jorge
      Baltasar Manzano Manzano, Baltasar
      5th October 2016
      Challenges for Widespread Renewable Energy Deployment
      Electricity Sector Transitions

      Challenges for Widespread Renewable Energy Deployment

      Jorge Blazquez, Baltasar Manzano

      Part of the policy strategy to avert the worst outcomes of global climate change is a transition to low carbon energy on an unprecedented scale. In particular, strong incentives are in place to promote the competitiveness of renewable energy technologies,…

      Jorge Blazquez Blazquez, Jorge
      Baltasar Manzano Manzano, Baltasar
      1st June 2016
      Natural Resource Revenue Management Strategies in Developing Countries: A Calibrated Macroeconomic Model for Uganda
      Climate Change Policies and Governance

      Natural Resource Revenue Management Strategies in Developing Countries: A Calibrated Macroeconomic Model for Uganda

      Fakhri Hasanov, Fred Joutz, Baltasar Manzano

      Recent natural resource discoveries in Eastern Africa provide an opportunity to boost economic development. However, this opportunity brings with it potential challenges in the form of ‘Dutch disease’ and, potentially, the ‘resource curse’. A companion paper to this report: Managing…

      Fakhri Hasanov Hasanov, Fakhri
      Fred Joutz Joutz, Fred
      Baltasar Manzano Manzano, Baltasar
      24th December 2015
      Macroeconomic Challenges for Eastern Africa

      Macroeconomic Challenges for Eastern Africa

      Fakhri Hasanov, Fred Joutz, Baltasar Manzano

      Recent natural resource discoveries in Eastern Africa provide an enormous opportunity to boost economic development. However, success is not inevitable and the causes of failure have been extensively researched during recent years. This paper summarizes the challenges that can beset…

      Fakhri Hasanov Hasanov, Fakhri
      Fred Joutz Joutz, Fred
      Baltasar Manzano Manzano, Baltasar
      6th September 2015