Farm Acreage Shocks and Crop Prices: An SVAR Approach to Understanding the Impacts of Biofuels

作者: Catherine Hausman , Maximilian Auffhammer , Peter Berck

DOI: 10.1007/S10640-012-9550-X

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摘要: The last 10 years have seen tremendous expansion in biofuels production, particularly corn ethanol the United States, at same time that commodity prices (e.g., corn) experienced significant spikes. While supporters claim are renewable and carbon-friendly, concerns been raised about their impacts on land use food prices. This paper analyzes how US crop responded to shocks acreage supply; these can be thought of as a shock residual supply for food. Using structural vector auto-regression framework, we examine crop’s own total cropland. allows us estimate effect dedicating cropland or non-crop farmlands feedstock production. A negative leads an increase price soybeans corn. Our calculations show increased production during boom year 2006/2007 explains approximately 27% rise.

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