Related papers: Equilibrium Oil Market Share under the COVID-19 Pa…
The abrupt outbreak of the COVID-19 pandemic was the most significant event in 2020, which had profound and lasting impacts across the world. Studies on energy markets observed a decline in energy demand and changes in energy consumption…
This paper aims at shedding light upon how transforming or detrending a series can substantially impact predictions of mixed causal-noncausal (MAR) models, namely dynamic processes that depend not only on their lags but also on their leads.…
We develop a stochastic equilibrium model for an electricity market with asymmetric renewable energy forecasts. In our setting, market participants optimize their profits using public information about a conditional expectation of energy…
The current pandemic has introduced substantial uncertainty to traditional methods for demand planning. These uncertainties stem from the disease progression, government interventions, economy and consumer behavior. While most of the…
Global oil price is an important factor in determining many economic variables in the world's economy. It is generally modeled as a stochastic process and have been studied through different techniques by comparing the historic time series…
In two-stage electricity markets, renewable power producers enter the day-ahead market with a forecast of future power generation and then reconcile any forecast deviation in the real-time market at a penalty. The choice of the forecast…
Probabilistic forecasting in combination with stochastic programming is a key tool for handling the growing uncertainties in future energy systems. Derived from a general stochastic programming formulation for the optimal scheduling and…
The COVID-19 pandemic has caused severe disruption to economic and financial activity worldwide. We assess what happened to the aggregate U.S. stock market during this period, including implications for both short and long-horizon…
Proceeding from the concept of rational expectations, a new dynamic model of supply and demand in a single market with one supplier, one buyer, and one kind of commodity is developed. Unlike the cob-web dynamic theories with adaptive…
This paper investigates the impact of COVID-19 on financial markets. It focuses on the evolution of the market efficiency, using two efficiency indicators: the Hurst exponent and the memory parameter of a fractional L\'evy-stable motion.…
Reliable estimates of volatility and correlation are fundamental in economics and finance for understanding the impact of macroeconomics events on the market and guiding future investments and policies. Dependence across financial returns…
During various stages of the COVID-19 pandemic, countries implemented diverse vaccine management approaches, influenced by variations in infrastructure and socio-economic conditions. This article provides a comprehensive overview of…
Many countries have experienced at least two waves of the COVID-19 pandemic. The second wave is far more dangerous as distinct strains appear more harmful to human health, but it stems from the complacency about the first wave. This paper…
Drawing inspiration from the significant impact of the ongoing Russia-Ukraine conflict and the recent COVID-19 pandemic on global financial markets, this study conducts a thorough analysis of three key crude oil futures markets: WTI, Brent,…
The COVID-19 pandemic has placed immense strain on hospital systems worldwide, leading to critical capacity challenges. This research proposes a two-part framework to optimize hospital capacity through patient relocation strategies. The…
We present a simple dynamic equilibrium model for an online exchange where both buyers and sellers arrive according to a exogenously defined stochastic process. The structure of this exchange is motivated by the limit order book mechanism…
Efficiently accommodating uncertain renewable resources in wholesale electricity markets is among the foremost priorities of market regulators in the US, UK and EU nations. However, existing deterministic market designs fail to internalize…
The electricity industry is heavily implementing smart grid technologies to improve reliability, availability, security, and efficiency. This implementation needs technological advancements, the development of standards and regulations, as…
Emerging in December 2019, the COVID-19 pandemic caused widespread health, economic, and social disruptions. Rapid global transmission overwhelmed healthcare systems, resulting in high infection rates, hospitalisations, and fatalities. To…
We present a compartmental SEIRD model aimed at forecasting hospital occupancy in metropolitan areas during the current COVID-19 outbreak. The model features asymptomatic and symptomatic infections with detailed hospital dynamics. We model…