| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 10487292 | Energy Policy | 2011 | 8 Pages |
Abstract
⺠World economy experienced 'dual shocks', which were caused by skyrocketed oil prices and grain prices between 2007 and 2008. ⺠Sharp increases in ethanol production in response to high oil prices were considered as a major driving force to 'ag-flation' in the United States. ⺠Applying a time series econometric tool, called the 'structural vector auto-regression model', we evaluated relationship between ethanol production and corn prices. ⺠The result shows that ethanol production affects corn prices in the short run, while corn prices are lowered as other corn demands (feed for livestock or export demand) decline in the long run.
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Physical Sciences and Engineering
Energy
Energy Engineering and Power Technology
Authors
Kyung Soo Cha, Jeong Hwan Bae,