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Estimating the Welfare Effects of U.S. Distortions in the Ethanol Market Using a Partial Equilibrium Trade Model

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Author Info
Ariadna Martinez-Gonzalez (The Ohio State University)
Ian Sheldon (The Ohio State University)
Stanley Thompson (The Ohio State University)
Abstract

In this paper the impact of distortions on U.S. imports of ethanol from Brazil are calculated. This is achieved by using two-stage least squares to estimate a partial equilibrium trade model based on annual data from 1975 to 2006. From this the derived export supply and import demand elasticities are used to derive "back-of-the-envelope" measures of the static and cumulative deadweight losses, assuming the distortions are not eliminated. The results presented support the hypothesis that the U.S. and Brazil would reap gains from trade if distortions in the U.S. ethanol market were eliminated.

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Publisher Info
Article provided by Berkeley Electronic Press in its journal Journal of Agricultural & Food Industrial Organization.

Volume (Year): 5 (2007)
Issue (Month): 2 ()
Pages: 1204-1204
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Related research
Keywords: ethanol trade distortions deadweight loss

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

  1. Simla Tokgoz & Amani Elobeid, 2006. "Analysis of the Link between Ethanol, Energy, and Crop Markets, An," Food and Agricultural Policy Research Institute (FAPRI) Publications 06-wp435, Food and Agricultural Policy Research Institute (FAPRI) at Iowa State University. [Downloadable!]
    Other versions:
  2. Miranowski, John, 2007. "Biofuel Incentives and the Energy Title of the 2007 Farm Bill," Staff General Research Papers 12821, Iowa State University, Department of Economics. [Downloadable!]
  3. Simla Tokgoz & Amani Elobeid & Jacinto F. Fabiosa & Dermot J. Hayes & Bruce A. Babcock & Tun-Hsiang (Edward) Yu & Fengxia Dong & Chad E. Hart & John C. Beghin, 2007. "Emerging Biofuels: Outlook of Effects on U.S. Grain, Oilseed, and Livestock Markets," Center for Agricultural and Rural Development (CARD) Publications 07-sr101, Center for Agricultural and Rural Development (CARD) at Iowa State University. [Downloadable!]
    Other versions:
  4. Babcock, Bruce A. & Beghin, John & Heffernan, Keith & Kaus, Phillip & Thomas, Katie & Olson, Becky, 2000. "Iowa Ag Review," Staff General Research Papers 1713, Iowa State University, Department of Economics.
    Other versions:
    • Babcock, Bruce A. & Beghin, John & Clarke, Sandra & Heffernan, Keith & Hempe, Betty & Olson, Becky, 2002. "Iowa Ag Review," Staff General Research Papers 2052, Iowa State University, Department of Economics.
    • Babcock, Bruce A. & Beghin, John & Clarke, Sandra & Heffernan, Keith & Hempe, Betty & Clemens, Roxanne & Olson, Becky, 2002. "Iowa Ag Review," Staff General Research Papers 2092, Iowa State University, Department of Economics.
    • Elmore, Steven L. & Smith, Darnell B. & Meyers, William H. & Hart, Chad & Babcock, Bruce A. & Lawrence, John D., 1996. "Iowa Ag Review," Staff General Research Papers 1027, Iowa State University, Department of Economics.
    • Babcock, Bruce A. & Chaherli, Nabil M. & Lakshminarayan, P. G. & Smith, Darnell B. & Elmore, Steven L. & Pautsch, Greg & Meyers, William H. & Hart, Chad, 1999. "Iowa Ag Review," Staff General Research Papers 1527, Iowa State University, Department of Economics.
    • Babcock, Bruce A. & Beghin, John & Thomas, Katie & Heffernan, Keith & Olson, Becky & Kaus, Phillip, 2000. "Iowa Ag Review," Staff General Research Papers 1778, Iowa State University, Department of Economics.
    • Babcock, Bruce A. & Beghin, John C. & Clarke, Sandra & Heffernan, Keith & Hempe, Betty & Kaus, Phillip & Olson, Becky, 2001. "Iowa Ag Review," Staff General Research Papers 1940, Iowa State University, Department of Economics.
    • Babcock, Bruce A. & Beghin, John & Thomas, Katie & Heffernan, Keith & Olson, Becky & Kaus, Phillip, 2000. "Iowa Ag Review," Staff General Research Papers 1819, Iowa State University, Department of Economics.
    • Babcock, Bruce A. & Beghin, John & Heffernan, Keith & Kaus, Phillip & Pim, Judith & Hempe, Betty & Pyle, Janis & Olson, Becky, 2000. "Iowa Ag Review," Staff General Research Papers 1859, Iowa State University, Department of Economics.
    • Babcock, Bruce A. & Beghin, John & Thomas, Katie & Heffernan, Keith & Olson, Becky & Kaus, Phillip, 1999. "Iowa Ag Review," Staff General Research Papers 1667, Iowa State University, Department of Economics.
    • Babcock, Bruce A. & Beghin, John & Clarke, Sandra & Heffernan, Keith & Hart, Chad & Hempe, Betty & Olson, Becky, 2001. "Iowa Ag Review," Staff General Research Papers 2017, Iowa State University, Department of Economics.
    • Babcock, Bruce A. & Beghin, John & Thomas, Katie & Heffernan, Keith & Olson, Becky & Kaus, Phillip, 1999. "Iowa Ag Review," Staff General Research Papers 1560, Iowa State University, Department of Economics.
    • Babcock, Bruce A. & Beghin, John & Heffernan, Keith & Hempe, Betty & Chimenti, Linda & Olson, Becky & Kaus, Phillip, 2000. "Iowa Ag Review," Staff General Research Papers 1900, Iowa State University, Department of Economics.
    • Babcock, Bruce A. & Beghin, John & Clarke, Sandra & Heffernan, Keith & Hempe, Betty & Hart, Chad & Olson, Becky, 2001. "Iowa Ag Review," Staff General Research Papers 1997, Iowa State University, Department of Economics.
    • Lawrence, John D. & Meyer, Seth D. & Kruse, John R. & Hayes, Dermot J. & Babcock, Bruce A. & Hennessy, David & Smith, Darnell B. & Meyers, William H., 1995. "Iowa Ag Review," Staff General Research Papers 864, Iowa State University, Department of Economics.
    • Babcock, Bruce A. & Clarke, Sandra & Hempe, Betty & Olson, Becky & Beghin, John & Heffernan, Keith & Hart, Chad, 2001. "Iowa Ag Review," Staff General Research Papers 1983, Iowa State University, Department of Economics.
    • Barrett, Chad & Kaus, Phil & Smith, Darnell & Hayes, Dermot J. & Babcock, Bruce A. & Meyers, William H., 1999. "Iowa Ag Review," Staff General Research Papers 1414, Iowa State University, Department of Economics.
Full references

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Lihong Lu McPhail & Bruce A. Babcock, 2008. "Short-Run Price and Welfare Impacts of Federal Ethanol Policies," Center for Agricultural and Rural Development (CARD) Publications 08-wp468, Center for Agricultural and Rural Development (CARD) at Iowa State University. [Downloadable!]
    Other versions:
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