Regime-Dependent Topological Properties of Biofuels Networks

CAMA Working Paper Series Paper 49/2012

31 Pages Posted: 18 Jul 2013

See all articles by Ladislav Kristoufek

Ladislav Kristoufek

Charles University

Karel Janda

Charles University in Prague - CERGE-EI (Center for Economic Research and Graduate Education - Economics Institute)

David Zilberman

University of California, Berkeley - Department of Agricultural & Resource Economics

Date Written: November 17, 2012

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 co-movements 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.

Keywords: biofuels, networks, causality

JEL Classification: C22, C38, Q42

Suggested Citation

Kristoufek, Ladislav and Janda, Karel and Zilberman, David, Regime-Dependent Topological Properties of Biofuels Networks (November 17, 2012). CAMA Working Paper Series Paper 49/2012. Available at SSRN: https://ssrn.com/abstract=2295172 or http://dx.doi.org/10.2139/ssrn.2295172

Ladislav Kristoufek

Charles University ( email )

Celetná 13
Praha 1, 116 36
Czech Republic

Karel Janda (Contact Author)

Charles University in Prague - CERGE-EI (Center for Economic Research and Graduate Education - Economics Institute) ( email )

P.O. Box 882
7 Politickych veznu
Prague 1, 111 21
Czech Republic
+422 240 05 223 (Phone)
+422 242 11 374 (Fax)

HOME PAGE: http://www.cerge-ei.cz

David Zilberman

University of California, Berkeley - Department of Agricultural & Resource Economics ( email )

Berkeley, CA 94720
United States

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