@article{Leucci:149923,
      recid = {149923},
      author = {Leucci, A. C. and Ghinoi, S. and Sgargi, D. and Wesz, V.  J., Jr.},
      title = {Variation and links among food and energy international  prices. An analysis through VAR models from 2000 to 2012.},
      address = {2013-06},
      number = {1052-2016-85900},
      pages = {16},
      year = {2013},
      abstract = {An adequate understanding of the dynamics that  characterize the agri-food market is fundamental for the  development
of really efficient economic policies,  especially after the two recent hikes in the prices of food  commodities. The
econometric literature provides today  advanced analysis tools such as VAR models: these models  are based on a system
of equations in which each variable  is regressed on a set of deterministic variables, on a  number of l delays related to
each covariate in the model.  To test the effectiveness of this analytical tool at  dealing with the issues related to agrifood
economy we  applied a VAR analysis on prices of major food and energy  commodities (oil and biodiesel) referred
to the period  January 2005-December 2012.
Our results identified  statistically significant intertemporal relationships  between the price of corn, soybeans, rapeseed
and oil, and  suggested the direction of these relationships; we could  conclude that the price of corn and soybeans are
generated  in the energy market only. Moreover, we used as variables  the share of commodities used for the production
of  biofuels, and we could observe that important alterations  on the food market are due to the convenience in  producing
ethanol and biodiesel, since the portion of the  crops used for energy is in direct competition with that  devoted to the
feeding. This kind of models, therefore,  deal adequately with datas and issues of the agri-food  system and provide an
analytical basis to develop economic  policies that take into account the complexity of the  global food system.},
      url = {http://ageconsearch.umn.edu/record/149923},
      doi = {https://doi.org/10.22004/ag.econ.149923},
}