Price Transmission in the US Ethanol Market

Teresa Serra (), David Zilberman, José M. Gil () and Barry Goodwin ()
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Teresa Serra: Centre de Recerca en Economia i Desenvolupament Agroalimentari (CREDA-UPC-IRTA), Parc Mediterrani de la Tecnologia, Edifici ESAB
José M. Gil: Centre de Recerca en Economia i Desenvolupament Agroalimentari (CREDA-UPC-IRTA)

Chapter Chapter 5 in Handbook of Bioenergy Economics and Policy, 2010, pp 55-72 from Springer

Abstract: Abstract We use nonlinear time series models to assess price relationships within the US ethanol industry. Daily ethanol, corn, and crude oil futures prices observed from mid-2005 to mid-2007 are used in the analysis. Our results suggest the existence of an equilibrium relationship between the three prices studied. Only ethanol prices are found to adjust to deviations from this relationship. The evolution of ethanol prices in relation to corn and crude oil prices may have important implications for the long-run competitiveness of the US ethanol industry.

Keywords: Future Price; Cointegration Relationship; Price Transmission; Ethanol Industry; Corn Price (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:spr:nrmchp:978-1-4419-0369-3_5

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DOI: 10.1007/978-1-4419-0369-3_5

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