Modeling Mineral and Energy Markets

Walter C. Labys

This book provides a framework for analyzing and forecasting a variety of mineral and energy markets and related industries. Such modeling activity has been at the forefront of the economic and engineering professions for some time, having received a major stimulus following the first oil price shock in 1973. 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. New developments in modeling approaches are then presented which encompass econometric market and industry models, spatial equilibrium and programming models, optimal resource depletion models, input-output models, economic sector models, and...