Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/83346
Authors: 
Krištoufek, Ladislav
Janda, Karel
Zilberman, David
Year of Publication: 
2012
Series/Report no.: 
IES Working Paper 15/2012
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. 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. When the periods before and after the food crisis of 2007/2008 are compared, the connections are much stronger for the post-crisis period. This is the first application of this methodology on the biofuels systems.
Subjects: 
biofuels
networks
minimal spanning tree
hierarchical tree
JEL: 
C38
Q16
Q42
Document Type: 
Working Paper
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