Biofuel and Food-Commodity Prices

摘要: The paper summarizes key findings of alternative lines research on the relationship between food and fuel markets, identifies gaps two bodies literature: one that investigates prices, another impact introduction biofuels commodity-food prices. former body literature suggests biofuel prices do not affect food-commodity but latter it does. We try to explain this gap, then show although was an important contributor recent food-price inflation 2001–2008, its effect declined after recession 2008/09. also cross-price elasticity is when explaining soybean price, less so corn