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Biofuels and Market Power - The Case of Swedish District Heating Plants

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Author Info
Sjöström, Magnus () (Department of Economics, Umeå University)
Abstract

This paper tests for market power on the market for biofuels, employing a statistical model and making use of the idea of Granger causality. We use a panel data set of plant specific input prices and quantities of wood chip covering 91 Swedish district heating plants 1990-1996. If quantity Granger causes price, it is taken as an indication of market power. We find that the Swedish district heating plants to some degree have market power in the market for wood chips.

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Publisher Info
Paper provided by Umeå University, Department of Economics in its series Umeå Economic Studies with number 634.

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Length: 14 pages
Date of creation: 11 May 2004
Date of revision:
Handle: RePEc:hhs:umnees:0634

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Postal: Department of Economics, Umeå University, S-901 87 Umeå, Sweden
Phone: 090 - 786 61 42
Fax: 090 - 77 23 02
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Web page: http://www.econ.umu.se/
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Related research
Keywords: market power; Granger causality; VAR; biofuel; district heating;

Find related papers by JEL classification:
C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data
D21 - Microeconomics - - Production and Organizations - - - Firm Behavior
D43 - Microeconomics - - Market Structure and Pricing - - - Oligopoly and Other Forms of Market Imperfection
L13 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Oligopoly and Other Imperfect Markets
Q40 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - General

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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. Arellano, Manuel & Bond, Stephen, 1991. "Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations," Review of Economic Studies, Blackwell Publishing, vol. 58(2), pages 277-97, April. [Downloadable!] (restricted)
  2. Atkinson, Scott E & Kerkvliet, Joe, 1989. "Dual Measures of Monopoly and Monopsony Power: An Application to Regulated Electric Utilities," The Review of Economics and Statistics, MIT Press, vol. 71(2), pages 250-57, May. [Downloadable!] (restricted)
  3. Chien-Hsun Chen, 1993. "Causality between Defence Spending and Economic Growth: The Case of Mainland China," Journal of Economic Studies, Emerald Group Publishing, vol. 20(6), pages 37-43, October. [Downloadable!] (restricted)
  4. Granger, C W J, 1969. "Investigating Causal Relations by Econometric Models and Cross-Spectral Methods," Econometrica, Econometric Society, vol. 37(3), pages 424-38, July. [Downloadable!] (restricted)
  5. Appelbaum, Elie, 1982. "The estimation of the degree of oligopoly power," Journal of Econometrics, Elsevier, vol. 19(2-3), pages 287-299, August. [Downloadable!] (restricted)
  6. Holtz-Eakin, Douglas & Newey, Whitney & Rosen, Harvey S, 1988. "Estimating Vector Autoregressions with Panel Data," Econometrica, Econometric Society, vol. 56(6), pages 1371-95, November. [Downloadable!] (restricted)
  7. Roberts, Mark J., 1984. "Testing oligopolistic behavior," International Journal of Industrial Organization, Elsevier, vol. 2(4), pages 367-383, December. [Downloadable!] (restricted)
  8. Bresnahan, Timothy F., 1989. "Empirical studies of industries with market power," Handbook of Industrial Organization, in: R. Schmalensee & R. Willig (ed.), Handbook of Industrial Organization, edition 1, volume 2, chapter 17, pages 1011-1057 Elsevier. [Downloadable!] (restricted)
  9. Runar Brännlund & Per-Olov Marklund & Magnus Sjöström, 2004. "Evaluating market efficiency without price data: the Swedish market for wood fuel," Applied Economics, Taylor and Francis Journals, vol. 36(1), pages 31-39, January. [Downloadable!] (restricted)
  10. Atukeren, Erdal, 1994. "A Note on the Tests of Granger-Causality between Exports and Economic Growth," Applied Economics Letters, Taylor and Francis Journals, vol. 1(11), pages 207-09, November. [Downloadable!] (restricted)
  11. Robert H. Porter, 1983. "A Study of Cartel Stability: The Joint Executive Committee, 1880-1886," Bell Journal of Economics, The RAND Corporation, vol. 14(2), pages 301-314, Autumn. [Downloadable!] (restricted)
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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. Ankarhem, Mattias, 2005. "Bioenergy, Pollution, and Economic Growth," UmeÃ¥ Economic Studies 661, Umeå University, Department of Economics. [Downloadable!]
  2. Ankarhem, Mattias, 2005. "Effects of Increased Demand for Biofuels: A Dynamic Model of the Swedish Forest Sector," UmeÃ¥ Economic Studies 658, Umeå University, Department of Economics. [Downloadable!]
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