• Primary Program Energy Markets, Fuels and Feedstocks
  • Research Interests Energy economics, public economics, public finance, dynamic macroeconomics

Biography

Baltasar has been involved in economic research for the last three decades at Universidade de Vigo, with a particular focus on energy. He also served as an economic advisor of the President of Galicia from 2005 to 2009. He has been a visiting researcher at KAPSARC since 2014.

Publications

See all Baltasar’s publications
  • Discussion papers
  • Instant Insight
  • KAPSARC journal articles
The Value of Saving Oil in Saudi Arabia

The Value of Saving Oil in Saudi Arabia

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 the domestic price of oil and the international price represents an opportunity to improve economic efficiency across different activities and sectors. In this context, we study different policies aimed to reduce the domestic consumption of oil.

March 25, 2018
Prices Versus Policy: An Analysis of the Drivers of the Fossil Fuel Energy Mix

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

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 the transition to a future energy mix where renewables will have a key role. This initial study considers the fossil fuel mix in the U.S., Germany and the U.K. by undertaking a macroeconomic analysis of the importance of prices relative to policy in shaping the mix for these economies over the last 35 years.

October 5, 2016
Challenges for Widespread Renewable Energy Deployment

Challenges for Widespread Renewable Energy Deployment

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, stimulate their rapid uptake and displace fossil fuel power generation. In this paper we argue that the penetration of renewable energy into the power market can directly result in a price response of fossil fuels which in turn affects the relative competitiveness of renewable power generation, thereby reducing the rate of the renewable energy transition or increasing the cost of the policy support measures required to achieve it. The price response we hypothesise is distinct from the Green Paradox and Carbon Leakage theories, which in different ways address the effect of climate change policy on the extraction and use of fossil fuels. In order to assess the possible existence and scale of the problem, we identify a price response mechanism backed by standard economic theory, based on the specific characteristics of the fossil fuel markets considered, e.g., coal and natural gas.

June 1, 2016
Natural Resource Revenue Management Strategies in Developing Countries: A Calibrated Macroeconomic Model for Uganda

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

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 Macroeconomic Risks Arising from Natural Resource Revenues in Developing Countries: A review of the Challenges for East Africa sets out the current state of thinking on the issues of Dutch disease, resource curse, the applicability of the permanent income hypothesis (PIH) in populous, developing economies and the impact of absorptive capacity constraints.

December 24, 2015
Macroeconomic Challenges for Eastern Africa

Macroeconomic Challenges for Eastern Africa

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 such opportunities.

September 6, 2015
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?

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 to benchmark the Kingdom against its G20 peers. The G20 summit is an international economic forum for the  governments and central bank governors from 19 countries and the European Union. Member countries are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the United Kingdom, and the United States.

August 20, 2019

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