Developing and Applications of an Economic Model for World Crude Oil/Natural Gas Market

IDE Research Bulletin

March 2020

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Background and purpose of this research

This project aims to develop an empirical model which interlinks a multi-country economic models with the world crude oil and natural gas market. Our model attempts to endogenize the determination of crude oil prices and natural gas prices in order to clarify the effect of economic spillovers between energy markets and macro economy. This approach would provide wider perspective to contribute an economic policy which leads to achieve the sustainable economic growth.

This research is composed of two parts. One is construction of a model on international trade. The other is construction of a model on international finance.