Dynamics and evolution of the role of biofuels in global commodity and financial markets

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216208%3A11230%2F16%3A10337902" target="_blank" >RIV/00216208:11230/16:10337902 - isvavai.cz</a>

Nalezeny alternativní kódy

RIV/61384399:31110/16:00052267

Výsledek na webu

<a href="http://dx.doi.org/10.1038/NENERGY.2016.169" target="_blank" >http://dx.doi.org/10.1038/NENERGY.2016.169</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.1038/NENERGY.2016.169" target="_blank" >10.1038/NENERGY.2016.169</a>

Jazyk výsledku

angličtina

Název v původním jazyce

Dynamics and evolution of the role of biofuels in global commodity and financial markets

Popis výsledku v původním jazyce

Biofuels form part of a complex system comprising their production factors (usually agricultural commodities) and raw and retail fuels. Recently, it has been suggested that biofuels might affect or be affected by financial assets such as exchange rates, interest rates, stocks, and by other commodities. However, further extensive studies are required to investigate this. Here we present a combination of minimum spanning trees correlation filtration and wavelet analysis uncovering the ties in a wide portfolio of 33 commodities and relevant assets for biofuels between 2003 and 2016. We show that for Brazilian and US ethanol, their respective feedstocks lead biofuels prices, and not vice versa. This dynamic remains qualitatively unchanged when controlling for the influence of crude oil prices. In contrast, European biodiesel exhibits only moderate ties to its production factors. Other financial factors do not interact significantly with biofuel prices in general.

Název v anglickém jazyce

Dynamics and evolution of the role of biofuels in global commodity and financial markets

Popis výsledku anglicky

Biofuels form part of a complex system comprising their production factors (usually agricultural commodities) and raw and retail fuels. Recently, it has been suggested that biofuels might affect or be affected by financial assets such as exchange rates, interest rates, stocks, and by other commodities. However, further extensive studies are required to investigate this. Here we present a combination of minimum spanning trees correlation filtration and wavelet analysis uncovering the ties in a wide portfolio of 33 commodities and relevant assets for biofuels between 2003 and 2016. We show that for Brazilian and US ethanol, their respective feedstocks lead biofuels prices, and not vice versa. This dynamic remains qualitatively unchanged when controlling for the influence of crude oil prices. In contrast, European biodiesel exhibits only moderate ties to its production factors. Other financial factors do not interact significantly with biofuel prices in general.

Druh

J_x - Nezařazeno - Článek v odborném periodiku (Jimp, Jsc a Jost)

CEP obor

AH - Ekonomie

OECD FORD obor

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Projekt

<a href="/cs/project/GA16-00027S" target="_blank" >GA16-00027S: Zkoumání zelených paradoxů: Mikroekonomický, ekonometrický a meta-analytický rámec výzkumu nezamýšlených efektů klimatických a energetických politik</a><br>

Návaznosti

P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)

Rok uplatnění

2016

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název periodika

NATURE ENERGY

ISSN

2058-7546

e-ISSN

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Svazek periodika

1

Číslo periodika v rámci svazku

November

Stát vydavatele periodika

GB - Spojené království Velké Británie a Severního Irska

Počet stran výsledku

9

Strana od-do

1-9

Kód UT WoS článku

000394792900001

EID výsledku v databázi Scopus

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