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Expectations, Asset Prices, and Monetary Policy : The Role of Learning

Gilchrist, Simon - 2006

This paper studies the implications of financial market imperfections represented by a countercyclical external finance premium and the gradual recognition of changes in the drift of technology growth for the design of an interest rate rule. Asset price movements induced by changes in trend...

Persistent link: https://www.econbiz.de/10012466222

The Price of Biodiesel RINs and Economic Fundamentals

Irwin, Scott H. - 2018

The D4 RIN is the tradable compliance certificate for the biomass-based diesel mandate in the Renewable Fuel Standard (RFS). Understanding the price dynamics of the D4 RIN is important for understanding the RFS because its price sets a ceiling on the ethanol RIN (D6) and because some observers...

Persistent link: https://www.econbiz.de/10012480992

How Agricultural Biotechnology Boosts Food Supply and Accomodates Biofuels

Sexton, Steven - 2011

Increased global demand for biofuels is placing increased pressure on agricultural systems at a time when traditional sources of yield improvements have been mostly exhausted, generating concerns about the future of food prices. This paper estimates the impact of global adoption of genetically...

Persistent link: https://www.econbiz.de/10012461958

Meeting the Mandate for Biofuels : Implications for Land Use, Food and Fuel Prices

Chen, Xiaoguang - 2011

Biofuel production is being promoted through various policies such as mandates and tax credits. This paper uses a dynamic, spatial, multi-market equilibrium model, Biofuel and Environmental Policy Analysis Model (BEPAM), to estimate the effects of these policies on cropland allocation, food and...

Persistent link: https://www.econbiz.de/10012461960

The Demand for Ethanol as a Gasoline Substitute

Anderson, Soren T. - 2010

This paper estimates household preferences for ethanol as a gasoline substitute. I develop a theoretical model linking the shape of the ethanol demand curve to the distribution of price ratios at which individual households switch fuels. I estimate the model using data from many retail fueling...

Persistent link: https://www.econbiz.de/10012462285

Identifying Supply and Demand Elasticities of Agricultural Commodities : Implications for the US Ethanol Mandate

Roberts, Michael J. - 2010

We present a new framework to identify demand and supply elasticities of agricultural commodities using yield shocks - deviations from a time trend of output per area, which are predominantly caused by weather fluctuations. Demand is identified using current-period shocks that give rise to...

Persistent link: https://www.econbiz.de/10012462730

Implications for Energy Innovation from the chemical industry

Arora, Ashish - 2010

The history of innovation in the chemical industry offers many insights for accelerating energy innovation. In this chapter, we begin by laying out the early history of the chemical industry for an overview of the role innovation has played in its development. We then explore three noteworthy...

Persistent link: https://www.econbiz.de/10012462976

Using Tax Expenditures to Achieve Energy Policy Goals

Metcalf, Gilbert E. - 2008

Tax expenditures are a major source of support for energy related activities in the federal budget exceeding direct budget support for energy by a factor of nearly six. Focusing on the policy goals of reducing greenhouse gas emissions and petroleum consumption, I find these tax expenditures...

Persistent link: https://www.econbiz.de/10012464894

Did the Renewable Fuel Standard Shift Market Expectations of the Price of Ethanol?

Baumeister, Christiane J.S. - 2017

biofuel policies operates in part through market expectations and shifts in storage demand, yet to date it has proved … difficult to measure these expectations and to empirically evaluate this view. We quantify the extent to which price changes … evolved. We show that the Renewable Fuel Standard (RFS) increased ethanol price expectations by as much $1.50 initially …

Persistent link: https://www.econbiz.de/10012453959

Who Did the Ethanol Tax Credit Benefit? An Event Analysis of Subsidy Incidence

Bielen, David A. - 2016

Using commodity futures contract and spot prices, we estimate the incidence of the US ethanol subsidy accruing to corn farmers, ethanol producers, gasoline blenders, and gasoline consumers at expiration in 2011. We find compelling evidence that ethanol producers captured two-thirds of the...

Persistent link: https://www.econbiz.de/10012456706

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