Several times a year, OPEC hosts conferences with its members to review oil fundamentals and decide on production quota adjustments. The organization meets behind closed doors, but the opening meeting is open to the press and usually fuels market speculation on which agreement concerning oil...

The causality between energy consumption and real income in developed countries has been a very vital research topic in recent years. Raising concerns about climate change and global warming increase the pressure on policy makers to take action against energy depletion. Unfortunately these...

This paper explores the capacity of computable general equilibrium (CGE) models to track down policy induced economic changes and their ability to generate contrastable data for an economy. Starting from an empirically built regional Social Accounting Matrix (SAM), a first stage CGE calibrated...

Compared to oil and gas, metals have been rather a side issue in the economic analysis of natural resources in the last decades. However, in the recent past we saw an increase of interest in the topic, mainly driven by the heated discussion about critical metals. Rare Earth Elements (REE) are...

The objective of this paper is to build and use FAVAR model to evaluate the responses of a wide range of macroeconomic variables to monetary policy shocks. FAVAR is superior to standard VAR for many reasons. One, with Factor VAR model, it is possible to combine the standard VAR approach with...

Indonesia’s economy is getting more integrated with the global economy. Potential impact of global economy shocks to domestic economy propagated through trade channel and financial channel are increasingly pronounced. Risk of sudden reversal following large capital inflows poses a serious...

Shadow "banks" are unidentified entities operating in the financial sphere, in different countries. Therefore their lending and borrowing activities must be based on some rationally determined interest rate. We make the hypothesis that it is determined by a Reinforced Learning process and try to...

This study estimates parameters of CES production function in a Mathcad system using non-linear ordinary least squares method (Markvart method) based on statistical data of republics of Azerbaijan and Kazakhstan. Identified parameter estimates were comparatively analyzed to reveal a number of...

This research forecasts the sales of an innovative agro-industrial product, the feta cheese from buffalo milk, in Thailand using limited information from January 2000 to August 2012. It aims to find how much data sufficiently needed for the prediction of accurate sales concerning that newly...

The recent global financial crisis was a reminder that economic and financial stability are inextricably linked. To that end, there has been significant effort in policy and academic circles to incorporate real-financial linkages and macroprudential policies into existing macroeconomic models....