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Please use this identifier to cite or link to this item: http://purl.umn.edu/135793

Title: Relationship Between Prices of Food, Fuel and Biofuel
Authors: Kristoufek, Ladislav
Janda, Karel
Zilberman, David
Keywords: biofuels
networks
minimal spanning tree
hierarchical tree
Issue Date: 2012-09-18
Abstract: In this paper, we analyze the relationships between the prices of biodiesel, ethanol and related fuels and agricultural commodities with a use of minimal spanning trees and hierarchical trees. To distinguish between short-term and medium-term effects, we construct these trees for different frequencies (weekly and monthly). We find that in short-term, both ethanol and biodiesel are very weakly connected with the other commodities. In medium-term, the biofuels network becomes more structured. The system splits into two well separated branches – a fuels part and a food part. Biodiesel tends to the fuels branch and ethanol to the food branch. As a part of this paper we also characterize the major biofuels and their agricultural feedstock and we outline their recent quantitative development.
URI: http://purl.umn.edu/135793
Institution/Association: European Association of Agricultural Economists>131st Seminar, September 18-19, 2012, Prague, Czech Republic
Total Pages: 19
Collections:131st Seminar, September 18-19, 2012, Prague, Czech Republic

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