000236037 001__ 236037
000236037 005__ 20180123004333.0
000236037 037__ $$a333-2016-14499
000236037 041__ $$aen_US
000236037 084__ $$aC22
000236037 084__ $$aQ48
000236037 245__ $$aThresholds and Regime Change in the Market for Renewable Identification Numbers
000236037 260__ $$c2016-05-25
000236037 269__ $$a2016-05-25
000236037 270__ $$memarkel@vols.utk.edu$$pMarkel,   Evan
000236037 270__ $$mbenglish@utk.edu$$pEnglish,   Burton C.
000236037 270__ $$mdlamber1@utk.edu$$pLambert,   Dayton
000236037 300__ $$a52
000236037 336__ $$aConference Paper/ Presentation
000236037 520__ $$aThe coupling of RIN prices appears to be the result of an ethanol market subject to RFS mandates that exceed the blend wall and non-binding mandates in the biodiesel market. It is thought that the ethanol mandate is binding beyond the market absorption ability, and thus the primary drivers of D6 ethanol RIN price are unobserved thresholds in renewable volume obligations, and deterministic variables such as corn price and ethanol blend margins. In regard to the market for biodiesel, the hypothesis is that biodiesel producers are over-complying with the RFS biodiesel mandates to meet an ethanol mandate which has crossed some threshold in proximity to the ethanol blend wall.  Therefore biodiesel mandates are essentially non-binding.
Nonlinear threshold models are applied to address nonlinearities occurring in the prices. These types of models are well suited to handling nonlinearities and regime changes, such as those which occur with RFS revisions. A candidate set of models are fitted to the data and model selection techniques are carried out to determine the most appropriate fit.
000236037 542__ $$fLicense granted by Evan Markel (emarkel@vols.utk.edu) on 2016-05-26T01:08:27Z (GMT):

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000236037 650__ $$aResearch Methods/ Statistical Methods
000236037 650__ $$aResource /Energy Economics and Policy
000236037 6531_ $$aNonlinear Time Series
000236037 6531_ $$aThreshold Autoregressive
000236037 6531_ $$aSelf-Exciting Autoregressive
000236037 6531_ $$aSmooth Transition Autoregressive
000236037 6531_ $$aRenewable Identification Numbers
000236037 700__ $$aMarkel, Evan
000236037 700__ $$aEnglish, Burton C.
000236037 700__ $$aLambert, Dayton
000236037 773__ $$d2016
000236037 8564_ $$s1445155$$uhttp://ageconsearch.umn.edu/record/236037/files/threshold%20RIN%20model_AAEA.pdf
000236037 887__ $$ahttp://purl.umn.edu/236037
000236037 909CO $$ooai:ageconsearch.umn.edu:236037$$pGLOBAL_SET
000236037 912__ $$nSubmitted by Evan Markel (emarkel@vols.utk.edu) on 2016-05-26T01:21:18Z
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  Previous issue date: 2016-05-25
000236037 982__ $$gAgricultural and Applied Economics Association>2016 Annual Meeting, July 31-August 2, Boston, Massachusetts
000236037 980__ $$a333