Energy forecasts are widely used by the U.S. government, politicians, think tanks,and utility companies. While short-term forecasts were reasonably accurate, medium andlong-range forecasts have almost always been highly erroneous. In the U.S. many energypolicy decisions are driven by Annual...

This paper provides a general framework for the quantitative analysis of stochastic dynamic models. We review convergence properties of some numerical algorithms and available methods to bound approximation errors. We then address convergence and accuracy properties of the simulated moments. Our...

Gross Domestic Product (GDP) is one of the most important indicators that reflects the evolution and resilience of national economies. The importance of this macroeconomic indicator is growing in the current economic context, context in which international studies start to emphasize the...