Modeling mineral and energy markets

Walter C. Labys

Modeling Mineral and Energy Markets seeks to advance mineral and energy modeling by first presenting the modeling process sequentially by leading the model builder from model specification, estimation, simulation, and validation to practical model applications, including exploring history, analyzing policy, and market and price forecasting. Then new developments in modeling approaches are presented which encompass econometric market and industry models, spatial equilibrium and programming models, optimal resource depletion models, input-output models, economic sector models, and macro-oriented energy interaction models. The verification and application of the models is considered individually, and also in relation to the performance of alternative modeling approaches. The modeling framework includes a perspective on new directions, so that the present model building advice will...