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Regime-Dependent Topological Properties of Biofuels Networks

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Author Info

  • Ladislav Kristoufek
  • Karel Janda
  • David Zilberman

Abstract

We analyze the relationships between biodiesel, ethanol and related fuels and agricultural commodities with a use of minimal spanning trees and hierarchical trees and Granger causality. We construct this trees for different frequencies (weekly, monthly and quarterly). We find that in short-term, both ethanol and biodiesel are very weakly connected with the other commodities. In medium and long term, the network structure becomes more interesting. We especially concentrate on the links and comovements between the commodities for different stages of the market based on the level of prices of important commodities or groups of commodities. Such approach in general confirms the separation of network into fuels and food branches for majority of analyzed cases.

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File URL: http://cama.crawford.anu.edu.au/pdf/working-papers/2012/492012.pdf
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Bibliographic Info

Paper provided by Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University in its series CAMA Working Papers with number 2012-49.

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Length: 31 pages
Date of creation: Dec 2012
Date of revision:
Handle: RePEc:een:camaaa:2012-49

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Keywords: Biofuels; Networks; Causality;

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References

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Citations

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Cited by:
  1. Lukas Vacha & Karel Janda & Ladislav Kristoufek & David Zilbermand, 2013. "Time-Frequency Dynamics of Biofuels-Fuels-Food System," CAMA Working Papers 2013-27, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
  2. Bastianin, Andrea & Galeotti, Marzio & Manera, Matteo, 2014. "Causality and predictability in distribution: The ethanol–food price relation revisited," Energy Economics, Elsevier, vol. 42(C), pages 152-160.

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