Yang, Juan; Leatham, David J. - Agricultural and Applied Economics Association - AAEA - 2012
among these six variables: rice, wheat, corn, coal, crude oil and ethanol. Our major contribution to the existing literature … innovation accounting analysis of the ECM shocks. 2) We uncover a recent price transmission among major food-energy markets in … energy prices. We also find that ethanol price is neither in the long-run equilibrium nor responding to deviation from long …