K-DSGE 2.0: A Dynamic Stochastic General Equilibrium Model for Saudi Arabia with Carbon Circular Economy Features

Principal Fellow- Energy Macro- & Microeconomics Dr. Hossa Almutairi was a Principal Fellow at KAPSARC, and her research focuses on energy economics, oil markets, and climate…

Dr. Hossa Almutairi was a Principal Fellow at KAPSARC, and her research focuses on energy economics, oil markets, and climate policies. During the Saudi G20 Presidency, she served as the Sherpa of Think20 (T20), which is the research and policy advice network for the G20. Additionally, she was the lead co-chair of the T20 task force, “Sustainable Energy, Water and Food Systems.” Prior to joining KAPSARC, Dr. Almutairi was a faculty member at the University of Wilfrid Laurier, Canada. Her research contributions have been featured in several reputable journals, and she was the co-recipient of the 2023 OPEC Award for the Best Energy Research Paper.

Visiting Researcher- Energy Macro & Microeconomics Marzio is professor of Environmental and Energy Economics at the University of Milan and a visiting researcher at KAPSARC. He…

Marzio is professor of Environmental and Energy Economics at the University of Milan and a visiting researcher at KAPSARC. He graduated from Bocconi University in Milan and holds a M.Phil. and a Ph.D. in Economics from New York University. He is a research fellow at the Center for Research on Energy and Environmental Economics and Policy (IEFE) at Bocconi University. Founder and first president of the Italian Association of Environmental and Resource Economists, he has been an expert reviewer of the Intergovernmental Panel on Climate Change (IPCC) Third, Fourth, and Fifth assessment reports for Working Group III on and the coordinator of the Climate Change Modelling and Policy research program of the Fondazione Eni Enrico Mattei in Milan. He has published extensively in scholarly journals and actively participates to the policy debate through media interviews, comments and articles in newspapers and magazines and speeches and presentations in non-academic public events.

Expertise

• Environment and growth
• Energy modeling
• Energy sources
• Economics of climate change
• Green growth
• Investment
• Productivity
• Factor demands
• Innovation and technological change
• Production theory

Visiting Researcher- Energy Macro & Microeconomics Baltasar is an associate professor of economics at the University of Vigo and has been a visiting researcher at KAPSARC…

Baltasar is an associate professor of economics at the University of Vigo and has been a visiting researcher at KAPSARC since 2014. From 2005 to 2009, he served as an economic advisor to the president of Galicia. Baltasar has a Ph.D. in economics from the Universidad Complutense, Madrid  and has published extensively in academic journals, mainly focusing on the intersection of macroeconomics and energy.

Expertise

• Energy and the Macroeconomy
• Energy and the Environment
• Dynamic Stochastic General Equilibrium Models
• Public Economics and Optimal Policy

Vice President, Knowledge & Analysis Axel Pierru was appointed Vice President of Knowledge and Analysis by the Board of Trustees of KAPSARC in December 2023.…

Axel Pierru was appointed Vice President of Knowledge and Analysis by the Board of Trustees of KAPSARC in December 2023. In this role, he oversees and provides thought leadership to KAPSARC’s research and analysis activities.

He joined KAPSARC in 2011, after spending 15 years at IFP Energies Nouvelles in France where he led research and consulting projects and taught energy economics and finance to postgraduate students. He has served in various leadership roles at KAPSARC, including serving as interim Vice President for Research. From 2014 to 2023 he was a program director, leading the Energy Systems & Modeling, Energy & Macroeconomics, and Energy Macro & Micro-Economics research programs.

Dr. Pierru earned his Ph.D. in economics from University Paris 1 Pantheon-Sorbonne (France). He also holds an HDR degree, which is a French accreditation to supervise research. In 2007, Dr. Pierru was awarded Chevalier dans l’Ordre des Palmes Académiques (knighthood award in the academic field) by the French Ministry for National Education. He is an editor of The Energy Journal, as well as the corecipient of the 2023 OPEC Award for the Best Energy Research Paper, a first-time honor from OPEC.

He leads the Knowledge & Analysis team in designing applied research that blends methodological innovation with practical significance for policymaking. His expertise covers energy economics, policy and finance, the oil market, energy transitions, and commodity-exporting economies.

Dr. Pierru has a proven track record of methodological innovations with over 50 journal papers to his name. He has been a key contributor to developing new research avenues, such as the role of OPEC in stabilizing the oil market, the economic modeling of price controls, or the evaluation of investment projects by international oil companies facing various tax systems.

He also coauthored with Denis Babusiaux the book Corporate Investment Decisions and Economic Analysis: Exercises and Case Studies (2005), a culmination of years of teaching, consulting, and research.

Expertise

• Energy modelling
• Energy economics
• Energy policy
• Oil pricing and finance