1. Heat two tablespoons oil in a large pot over high heat. Add beef and cook, breaking it up so it’s crumbly, until browned but not completely cooked through, six to eight minutes. Transfer to a medium bowl with a slotted spoon, leaving as much fat in the pan as possible.
2. Reduce heat to medium. Add onion, red peppers and remaining one tablespoon oil, stirring until softened but not browned, six to eight minutes. Add cumin, paprika, oregano, smoked paprika, and cayenne and cook, stirring, until fragrant, about one minute.
3. Add chicken stock and reserved beef with any accumulated juices to pot. Stir in honey, kosher salt, and black pepper.
4. Bring to a simmer and cook, stirring and scraping up any brown bits, until most of the liquid is evaporated, 15 to 20 minutes. Stir in raisins and olives.
5. Transfer to a medium bowl, cover, and chill at least three hours.
6. Preheat oven to 375 degrees Fahrenheit. Line two baking sheets with Gefen Parchment Paper. Bring dough to room temperature.
7. Roll dough out on work surface to about one-fourth-inch thick. With a round cookie cutter or the top of a glass, cut out circles, about three inches in diameter.
8. Place two to three teaspoons (depending on how well it fits) filling in the center of each round.
9. Brush water around outer edge of each round. Fold three sides in to make a triangle, and seal, slightly overlapping the dough or crimping it together. For traditional empanada shape, fold round in half over filling and pinch edges to seal. Use a fork to crimp edges.
10. Transfer empanadas to prepared baking sheet, spacing one inch apart. Repeat with remaining dough and filling.
11. Bake empanadas, rotating tray halfway through, until golden brown and slightly darker around the edges, 25 to 35 minutes.