Biofuels Binding Constraints And Agricultural Commodity Price Volatility

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Biofuels, Binding Constraints and Agricultural Commodity Price Volatility

Author : Philip C. Abbott
Publisher :
ISBN 13 :
Total Pages : 49 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis Biofuels, Binding Constraints and Agricultural Commodity Price Volatility by : Philip C. Abbott

Download or read book Biofuels, Binding Constraints and Agricultural Commodity Price Volatility written by Philip C. Abbott and published by . This book was released on 2015 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: The share of U.S. corn production used to produce ethanol increased from 12.4% in the 2004/05 crop year to over 38.5% in the 2010/11 crop year, and remained at that high level in 2011/12. Even after accounting for return of by-products to the feed market, this is a large and persistent new demand for corn that surely has changed price dynamics. Nevertheless, the role of biofuels in determining recent high corn and other agricultural commodity prices, as well as their volatility, remains controversial. Policy measures to encourage biofuels production, including the Renewable Fuels Standard (RFS) mandates, subsidies to ethanol blenders, regulations on gasoline chemistry and import tariffs, helped to create this new, persistent demand for corn and contributed to incentives to create the capacity to produce ethanol and to use corn for fuel rather than food. Various aspects of implementing that policy and the economics of ethanol plant operation suggest very inelastic industrial demand for corn, contributing to both higher prices and greater price volatility. But turbulence in recent economic events have caused the mechanisms through which biofuels demands influence corn and other agricultural commodity prices to vary over time in ways that are observable in data. Price volatility and "subsidy incidence" also depend on which regime is in place. Simple theory along with data on supply, use and pricing are used to identify when each regime matters as policy influenced constraints bound to varying degrees. Capacity constraints appear to have dominated in the short run, allowing rents to absorb differences in variations of corn prices versus energy prices. Apparent price volatility seems due to mechanism switching and to changing trends more so than to random short run shocks under inelastic demand.

Biofuels, Binding Constraints and Agricultural Commodity Price Volatility

Author : Philip Abbott
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (829 download)

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Book Synopsis Biofuels, Binding Constraints and Agricultural Commodity Price Volatility by : Philip Abbott

Download or read book Biofuels, Binding Constraints and Agricultural Commodity Price Volatility written by Philip Abbott and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The share of U.S. corn production used to produce ethanol increased from 12.4% in the 2004/05 crop year to over 38.5% in the 2010/11 crop year, and remained at that high level in 2011/12. Even after accounting for return of by-products to the feed market, this is a large and persistent new demand for corn that surely has changed price dynamics. Nevertheless, the role of biofuels in determining recent high corn and other agricultural commodity prices, as well as their volatility, remains controversial. Policy measures to encourage biofuels production, including the Renewable Fuels Standard (RFS) mandates, subsidies to ethanol blenders, regulations on gasoline chemistry and import tariffs, helped to create this new, persistent demand for corn and contributed to incentives to create the capacity to produce ethanol and to use corn for fuel rather than food. Various aspects of implementing that policy and the economics of ethanol plant operation suggest very inelastic industrial demand for corn, contributing to both higher prices and greater price volatility. But turbulence in recent economic events have caused the mechanisms through which biofuels demands influence corn and other agricultural commodity prices to vary over time in ways that are observable in data. Price volatility and "subsidy incidence" also depend on which regime is in place. Simple theory along with data on supply, use and pricing are used to identify when each regime matters as policy influenced constraints bound to varying degrees. Capacity constraints appear to have dominated in the short run, allowing rents to absorb differences in variations of corn prices versus energy prices. Apparent price volatility seems due to mechanism switching and to changing trends more so than to random short run shocks under inelastic demand.

The Economics of Biofuel Policies

Author : Harry de Gorter
Publisher : Springer
ISBN 13 : 1137414855
Total Pages : 320 pages
Book Rating : 4.1/5 (374 download)

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Book Synopsis The Economics of Biofuel Policies by : Harry de Gorter

Download or read book The Economics of Biofuel Policies written by Harry de Gorter and published by Springer. This book was released on 2015-04-09 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global food crises of 2008 and 2010 and the increased price volatility revolve around biofuels policies and their interaction with each other, farm policies and between countries. While a certain degree of research has been conducted on biofuel efficacy and logistics, there is currently no book on the market devoted to the economics of biofuel policies. The Economics of Biofuel Policies focuses on the role of biofuel policies in creating turmoil in the world grains and oilseed markets since 2006. This new volume is the first to put together theory and empirical evidence of how biofuel policies created a link between crop (food grains and oilseeds) and biofuel (ethanol and biodiesel) prices. This combined with biofuel policies role in affecting the link between biofuels and energy (gasoline, diesel and crude oil) prices will form the basis to show how alternative US, EU, and Brazilian biofuel policies have immense impacts on the level and volatility of food grain and oilseed prices.

The Economics of Food Price Volatility

Author : Jean-Paul Chavas
Publisher : University of Chicago Press
ISBN 13 : 022612892X
Total Pages : 394 pages
Book Rating : 4.2/5 (261 download)

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Book Synopsis The Economics of Food Price Volatility by : Jean-Paul Chavas

Download or read book The Economics of Food Price Volatility written by Jean-Paul Chavas and published by University of Chicago Press. This book was released on 2014-10-14 with total page 394 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The conference was organized by the three editors of this book and took place on August 15-16, 2012 in Seattle."--Preface.

Determinants for the Level and Volatility of Agricultural Commodity Prices on International Markets

Author :
Publisher :
ISBN 13 :
Total Pages : 154 pages
Book Rating : 4.:/5 (17 download)

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Book Synopsis Determinants for the Level and Volatility of Agricultural Commodity Prices on International Markets by :

Download or read book Determinants for the Level and Volatility of Agricultural Commodity Prices on International Markets written by and published by . This book was released on 2013 with total page 154 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Determinants for the Level and Volatility of Agricultural Commodity Prices on International Markets - are Biofuels Responsible for Price Volatility and Food Insecurity?

Download Determinants for the Level and Volatility of Agricultural Commodity Prices on International Markets - are Biofuels Responsible for Price Volatility and Food Insecurity? PDF Online Free

Author : Michael Schmitz
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (11 download)

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Book Synopsis Determinants for the Level and Volatility of Agricultural Commodity Prices on International Markets - are Biofuels Responsible for Price Volatility and Food Insecurity? by : Michael Schmitz

Download or read book Determinants for the Level and Volatility of Agricultural Commodity Prices on International Markets - are Biofuels Responsible for Price Volatility and Food Insecurity? written by Michael Schmitz and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Ethanol Mandate and Crude Oil and Biofuel Agricultural Commodity Price Dynamics

Author : Apostolos Serletis
Publisher :
ISBN 13 :
Total Pages : 17 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis The Ethanol Mandate and Crude Oil and Biofuel Agricultural Commodity Price Dynamics by : Apostolos Serletis

Download or read book The Ethanol Mandate and Crude Oil and Biofuel Agricultural Commodity Price Dynamics written by Apostolos Serletis and published by . This book was released on 2018 with total page 17 pages. Available in PDF, EPUB and Kindle. Book excerpt: We investigate mean and volatility spillovers between the crude oil market and the main biofuel feedstock markets (corn, soybean, and sugar). In doing so, we estimate a four-variable vector error correction (VEC) GARCH-in-Mean model with a BEKK representation for the variance equation, and also examine the possible effects of the ethanol mandate by including a dummy variable in both the conditional mean and variance equations. We find that the oil market and the biofuel feedstock markets are tightly interconnected and that the ethanol mandate has strengthened their linkages in terms of volatility spillovers.

Explaining and evaluating price volatility and price levels in world agricultural markets

Author : Palina Moleva
Publisher : Cuvillier Verlag
ISBN 13 : 3736984723
Total Pages : 226 pages
Book Rating : 4.7/5 (369 download)

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Book Synopsis Explaining and evaluating price volatility and price levels in world agricultural markets by : Palina Moleva

Download or read book Explaining and evaluating price volatility and price levels in world agricultural markets written by Palina Moleva and published by Cuvillier Verlag. This book was released on 2017-02-15 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt: The worldwide explosions of agricultural commodity and staple food prices in the years 2007/08 and the subsequent recession-related decline in 2009 have not only surprised many market observers, but has also caused an intensive discussion about the causes, the consequences and the necessary policy responses. The new price spike in the years 2011 until 2013 and the current price crisis, especially for dairy and meat products since 2014/15, revived this debate again and raised the question, of how to explain and to evaluate such extreme level shifts and volatilities of agricultural prices, and where the prices move in the long run.

The Routledge Handbook of Agricultural Economics

Author : Gail L. Cramer
Publisher : Routledge
ISBN 13 : 1317225767
Total Pages : 806 pages
Book Rating : 4.3/5 (172 download)

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Book Synopsis The Routledge Handbook of Agricultural Economics by : Gail L. Cramer

Download or read book The Routledge Handbook of Agricultural Economics written by Gail L. Cramer and published by Routledge. This book was released on 2018-07-17 with total page 806 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Handbook offers an up-to-date collection of research on agricultural economics. Drawing together scholarship from experts at the top of their profession and from around the world, this collection provides new insights into the area of agricultural economics. The Routledge Handbook of Agricultural Economics explores a broad variety of topics including welfare economics, econometrics, agribusiness, and consumer economics. This wide range reflects the way in which agricultural economics encompasses a large sector of any economy, and the chapters present both an introduction to the subjects as well as the methodology, statistical background, and operations research techniques needed to solve practical economic problems. In addition, food economics is given a special focus in the Handbook due to the recent emphasis on health and feeding the world population a quality diet. Furthermore, through examining these diverse topics, the authors seek to provide some indication of the direction of research in these areas and where future research endeavors may be productive. Acting as a comprehensive, up-to-date, and definitive work of reference, this Handbook will be of use to researchers, faculty, and graduate students looking to deepen their understanding of agricultural economics, agribusiness, and applied economics, and the interrelationship of those areas.

Asymmetric Price Volatility Transmission Between U.S. Biofuel, Corn, and Oil Markets

Author : Sayed Saghaian
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis Asymmetric Price Volatility Transmission Between U.S. Biofuel, Corn, and Oil Markets by : Sayed Saghaian

Download or read book Asymmetric Price Volatility Transmission Between U.S. Biofuel, Corn, and Oil Markets written by Sayed Saghaian and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Linkages between agricultural commodity and energy prices have become more complex with increased ethanol production. The concern is whether the new corn-ethanol links lead to volatility spillover transmission between food and energy prices. We investigate asymmetric volatility spillovers between oil, corn, and ethanol prices using a BEKK-multivariate-GARCH approach. Additionally, we use daily, weekly, and monthly futures prices to examine whether the use of different-frequency data leads to inconsistent results. The results support the existence of asymmetric volatility transmission between corn and ethanol prices. Furthermore, the volatility spillover effects are different for the different-frequency prices, and positive and negative price changes generate inconsistent results.

The Economics of Biofuels

Author : Stefania Bracco
Publisher : Routledge
ISBN 13 : 1317218973
Total Pages : 216 pages
Book Rating : 4.3/5 (172 download)

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Book Synopsis The Economics of Biofuels by : Stefania Bracco

Download or read book The Economics of Biofuels written by Stefania Bracco and published by Routledge. This book was released on 2016-06-17 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: Biofuels are a renewable source of energy used mainly for transportation. They link together food, energy and natural resources sectors, and involve ecological, social and inequality issues. They are an emblematic example of the interactions between economic, environmental, social and political decisions and, as a recent and complex issue, require updated and detailed information to be understood. This book aims to shed light on several economic, social and environmental issues connected to biofuel production and policies. The Economics of Biofuels adopts detailed descriptions, rigorous data analysis and precise econometric methods to estimate the effects of biofuel on different socio-economic factors, avoiding complicated and sometimes ineffective models based on context-specific parameters. In particular, the book focuses on the impact of bioenergy policy on biocommodity production and trade, and on the related phenomenon of land acquisitions to grow biofuel commodities. The book’s main findings are derived by an original and unique dataset collecting information on the investors acquiring land in Africa and on the voluntary standard, certification and labelling schemes adopted by them as Corporate Social Responsibility (CSR) strategy. The analysis links together in an original way public and private initiatives to make biofuel sustainable. Therefore, this book represents an improvement in the understanding of biofuel production and policy’s sustainability. This book is of interest to those who study environmental economics, agricultural economics and sustainable development. It is also suitable for those in the renewable energy sector, with a particular focus on biofuel sustainability.

New Metropolitan Perspectives

Author : Carmelina Bevilacqua
Publisher : Springer Nature
ISBN 13 : 3030482790
Total Pages : 2196 pages
Book Rating : 4.0/5 (34 download)

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Book Synopsis New Metropolitan Perspectives by : Carmelina Bevilacqua

Download or read book New Metropolitan Perspectives written by Carmelina Bevilacqua and published by Springer Nature. This book was released on 2020-08-31 with total page 2196 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents the outcomes of the symposium “NEW METROPOLITAN PERSPECTIVES,” held at Mediterranea University, Reggio Calabria, Italy on May 26–28, 2020. Addressing the challenge of Knowledge Dynamics and Innovation-driven Policies Towards Urban and Regional Transition, the book presents a multi-disciplinary debate on the new frontiers of strategic and spatial planning, economic programs and decision support tools in connection with urban–rural area networks and metropolitan centers. The respective papers focus on six major tracks: Innovation dynamics, smart cities and ICT; Urban regeneration, community-led practices and PPP; Local development, inland and urban areas in territorial cohesion strategies; Mobility, accessibility and infrastructures; Heritage, landscape and identity;and Risk management,environment and energy. The book also includes a Special Section on Rhegion United Nations 2020-2030. Given its scope, the book will benefit all researchers, practitioners and policymakers interested in issues concerning metropolitan and marginal areas.

Modern Agricultural and Resource Economics and Policy

Author : Harry de Gorter
Publisher : Springer Nature
ISBN 13 : 303077760X
Total Pages : 519 pages
Book Rating : 4.0/5 (37 download)

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Book Synopsis Modern Agricultural and Resource Economics and Policy by : Harry de Gorter

Download or read book Modern Agricultural and Resource Economics and Policy written by Harry de Gorter and published by Springer Nature. This book was released on 2022-06-23 with total page 519 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume celebrates the life and career of Gordon Rausser, pioneer and leader in natural resource economics, while critically overviewing the emerging literature in the field. As the chair of the Agriculture and Resource Economics department at UC Berkeley, Rausser led the transformation of the department from a traditional agricultural economics department to a diverse resource economics department addressing issues of agriculture, food, natural resources, environmental economics, energy, and development. This book builds on this theme, showcasing not only the scope of Rausser's work but also key developments in the field. The volume is organized into two parts. The first part speaks about the lessons of Gordon Rausser's career, in particular, his role as a leader in different spheres, his capacity to integrate teaching and entrepreneurship, and his impact on the world food system. The second part will address some of the significant developments in the field he contributed to and how it relates to his work. The chapters include contributions from modern leaders in the economics field and cover diverse topics from many subfields including public policy, public finance, law, econometrics, macroeconomics, and water resources. Providing an excellent reference, as well as a celebration of a pivotal figure in the field, this volume will be useful for practitioners and scholars in agricultural and resource economics, especially the many individuals familiar with Gordon Rausser and his career.

Global Agriculture and the American Farmer

Author : Kimberly Ann Elliott
Publisher : Brookings Institution Press
ISBN 13 : 1944691006
Total Pages : 155 pages
Book Rating : 4.9/5 (446 download)

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Book Synopsis Global Agriculture and the American Farmer by : Kimberly Ann Elliott

Download or read book Global Agriculture and the American Farmer written by Kimberly Ann Elliott and published by Brookings Institution Press. This book was released on 2017-06-27 with total page 155 pages. Available in PDF, EPUB and Kindle. Book excerpt: The United States is one of the world’s largest producers and exporters of a range of agricultural commodities, and the largest provider of foreign assistance, so U.S. policies have big effects on global food security and other global public goods linked to agriculture. On the positive side of the ledger, President Obama created the Feed the Future aid initiative to promote agricultural development in poorer countries as a tool to achieve the global goals of ending hunger and extreme poverty, which are mostly rural. But that generosity is undercut by U.S. support for farmers that distorts global markets and ignores negative spillovers for the rest of the world. In this book, Elliott focuses on three policy areas that are particularly damaging for developing countries: traditional agricultural subsidy and trade policies that support the incomes of American farmers at the expense of farmers elsewhere; the biofuels mandate, which in its current form increases market volatility while doing little if anything to mitigate climate change; and weak regulation of antibiotic use in livestock, which contributes to the global spread of drug-resistant super bugs. While noting that broad reforms are needed to fix these problems, Elliott also identifies practical steps that U.S. policymakers could take in the relatively short run to improve farm policies—for American taxpayers and consumers as well as for the poor and vulnerable in developing countries.

The Tropical Oil Crop Revolution

Author : Derek Byerlee
Publisher : Oxford University Press
ISBN 13 : 0190222980
Total Pages : 305 pages
Book Rating : 4.1/5 (92 download)

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Book Synopsis The Tropical Oil Crop Revolution by : Derek Byerlee

Download or read book The Tropical Oil Crop Revolution written by Derek Byerlee and published by Oxford University Press. This book was released on 2017 with total page 305 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book provides a broad synthesis of the major supply and demand drivers of the dramatic expansion of oil crops in the tropics; its economic, social, and environmental impacts; and the future outlook to 2050. It is a comprehensive review of the oil crop sector with a major focus on oil palm and soybeans, the two most dynamic crops in world agriculture in recent decades.

Food Price Volatility and Its Implications for Food Security and Policy

Author : Matthias Kalkuhl
Publisher : Springer
ISBN 13 : 3319282018
Total Pages : 620 pages
Book Rating : 4.3/5 (192 download)

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Book Synopsis Food Price Volatility and Its Implications for Food Security and Policy by : Matthias Kalkuhl

Download or read book Food Price Volatility and Its Implications for Food Security and Policy written by Matthias Kalkuhl and published by Springer. This book was released on 2016-04-12 with total page 620 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides fresh insights into concepts, methods and new research findings on the causes of excessive food price volatility. It also discusses the implications for food security and policy responses to mitigate excessive volatility. The approaches applied by the contributors range from on-the-ground surveys, to panel econometrics and innovative high-frequency time series analysis as well as computational economics methods. It offers policy analysts and decision-makers guidance on dealing with extreme volatility.

Biofuels in Africa

Author : Donald Mitchell
Publisher : World Bank Publications
ISBN 13 : 0821385178
Total Pages : 220 pages
Book Rating : 4.8/5 (213 download)

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Book Synopsis Biofuels in Africa by : Donald Mitchell

Download or read book Biofuels in Africa written by Donald Mitchell and published by World Bank Publications. This book was released on 2010-11-24 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: A new economic opportunity for sub-Saharan Africa is looming large: biofuel production. Rapidly rising energy prices are expected to remain high for an extended period of time because of the increasing demand in prospering and populous countries such as China and India, the depletion of easily accessible supplies of crude oil, and concern over global climate change. As a result, there is renewed interest in biofuels as an alternative to fossil fuels. Africa is uniquely positioned to produce these new cash crops for both domestic use and export. The region has abundant land resources and preferential access to protected markets with higher-than-world-market prices. The rapid growth in the demand for transport fuels in Africa and high fuel prices create domestic markets for biofuels. The European Union and the United States have approved legislation that requires large increases in the consumption of biofuels over at least the next decade. Imports are expected to be needed to meet these mandates, thus opening the door to African and other developing countries that can produce biofuels or feedstocks for biofuels competitively. Expanding the production of crops for biofuels will affect the entire rural sector in Africa as resources are shifted away from traditional crops and the prices of all agricultural commodities rise. Even smallholders can participate in producing biofuel crops. To promote the sustainability and significant contribution of this enterprise, Biofuels in Africa provides guidance in formulating suitable policy regimes, which are based on protecting the rights of current land users, developing revenue-sharing schemes with local communities, safeguarding the environment and biodiversity, expanding institutional capacity, formulating new regulations and procedures, and emulating best practices from experienced countries. This volume will be of value to anyone interested in biofuels, including policy makers, development practitioners, private investors, researchers, and the general public. Now that African countries are trying to significantly increase their energy supply systems, biofuels are an attractive option using both dedicated crops and agricultural waste. This book provides guidance for them to develop a suitable policy regime for a significant contribution by biofuels. Professor Ogunlade R. Davidson, Minister of Energy and Water Resources, Sierra Leone Biofuels in Africa is a sorely needed resource for our understanding of the problems of expanding biofuels production in Africa. A high point of the book is a description of the projects that were started in several countries. A very useful book! Professor Jos Goldemberg, University of S o Paulo, Brazil As Africa most likely will play the same role for global biofuels as the Middle East does for oil, this comprehensive book on African biofuels should be compulsory reading for anyone interested in either African development or biofuels. The book captures the essence of long-term drivers and opportunities as well the complex challenges for investors and society of this huge emerging industry. Per Carstedt, Executive Chairman, EcoEnergy Africa