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

Author

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  • Martinez-Gonzalez Ariadna

    (The Ohio State University)

  • Sheldon Ian M

    (The Ohio State University)

  • Thompson Stanley

    (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.

Suggested Citation

  • Martinez-Gonzalez Ariadna & Sheldon Ian M & Thompson Stanley, 2007. "Estimating the Welfare Effects of U.S. Distortions in the Ethanol Market Using a Partial Equilibrium Trade Model," Journal of Agricultural & Food Industrial Organization, De Gruyter, vol. 5(2), pages 1-19, December.
    • Handle: RePEc:bpj:bjafio:v:5:y:2007:i:2:n:5
    DOI: 10.2202/1542-0485.1204
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    Cited by:

    1. van Tol, M.C.M. & Moncada, J.A. & Lukszo, Z. & Weijnen, M., 2021. "Modelling the interaction between policies and international trade flows for liquid biofuels: an agent-based modelling approach," Energy Policy, Elsevier, vol. 149(C).
    2. Zhang, Dengjun & Asche, Frank & Oglend, Atle, 2014. "Ethanol and trade: An analysis of price transmission in the US market," Energy Economics, Elsevier, vol. 42(C), pages 1-8.
    3. Unknown, 2013. "Journal of International Agricultural Trade and Development, Volume 09, Number 1, 2013," Journal of International Agricultural Trade and Development, Journal of International Agricultural Trade and Development, vol. 9(1), pages 140-140.
    4. Roberto Esposti, 2009. "Biofuels between International Markets, Policies and the Wto," QA - Rivista dell'Associazione Rossi-Doria, Associazione Rossi Doria, issue 4, December.
    5. Dong Hee Suh & Charles B. Moss, 2017. "Dynamic adjustment of ethanol demand to crude oil prices: implications for mandated ethanol usage," Empirical Economics, Springer, vol. 52(4), pages 1587-1607, June.
    6. Yano, Yuki & Blandford, David & Surry, Yves R., 2010. "The Implications of Alternative U.S. Domestic and Trade Policies for Biofuels," 84th Annual Conference, March 29-31, 2010, Edinburgh, Scotland 91832, Agricultural Economics Society.

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