Most popular approaches for modeling electricity prices rely at present on microeconomics rationale. They aim to study the interaction between decisions of agents in the market, and usually represent the impact of uncertainty in such decisions in a simplified way. The usual methodology of...

In this paper we introduce the dynamic semiparametric factor model (DSFM) for electricity forward curves. The biggest advantage of our approach is that it not only leads to smooth, seasonal forward curves extracted from exchange traded futures and forward electricity contracts, but also to a...

Forward transactions are becoming increasingly important in most of electricity markets. In this view, this paper develops a methodology able to capture the complexities of power markets and incorporate them into the framework of risk-neutral probabilities. This is done by the statement of a...

In this paper we develop a multi-factor model for the joint dynamics of related commodity spot prices in continuous time. We contribute to the existing literature by simultaneously considering various commodity markets in a single, consistent model. In an application we show the economic...

Using the discourse analysis methodology, we offer some insight into the macroeconomic and microeconomic implications of the 2023 fuel subsidy removal in Nigeria. The positive implications are that fuel subsidy removal would free up financial resources for other sectors of the economy,...

In today's globalized world, the interconnection between the economy and the environment is evident. A nation's prosperity and self-reliance hinge on adopting sustainable methods of energy production. Lack of energy security and self-sufficiency compels a country to import necessary energy...

While most African economies are primarily sandwiched with the seemingly unsurmountable task of attaining consistent economic growth and unhindered energy supply, the enormous threat posed by environmental degradation has further complicated the economic and environmental sustainability drive....

Oil export constitutes the major source of external revenue, and exchange rate determines the naira amount of the revenue and, thus, is perceived to affect aggregate consumption expenditure in Nigeria. This paper employed Nonlinear ARDL approach to examine the short-run and long-run asymmetric...

This paper examines the intermediary role of carbon dioxide emissions and GDP per capita in the relationship between natural resource rents and renewable energy, with a specific focus on distinguishing between renewable energy consumption and production. Specifically, the paper aims to identify...

Ensuring a stable supply of critical minerals at reasonable prices is essential for the clean energy transition. The security of supply of critical minerals is particularly susceptible to geopolitical risk. In this paper, we use constant and time-varying parameter local projection (TVP-LP)...