RELATIONSHIP AMONG ENERGY, BIOENERGY, AND AGRICULTURAL COMMODITY PRICES: RE-CONSIDERING STRUCTURAL CHANGES
2018
Mehdi Nemati
This study investigates the relationships among the prices of gasoline, ethanol, andagricultural products that include soybeans and corn. By increasing production of ethanolusing corn, concerns about emerging new relationship between agricultural products priceand energy price increased. The result indicates that, without considering structural breaks,there is no long-run relationship between energy and agricultural products prices. However,after consideration of structural breaks not only, long-run relationship between energy andagricultural products exist, but also this relationship intensified during last decade. Also,energy price can be transmitted to agricultural products prices from the indirect and directchannel.
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