Baier, Scott; Clements, Mark; Griffiths, Charles; … - Federal Reserve Board (Board of Governors of the … - 2009
This paper examines the effect that biofuels production has had on commodity and global food prices. The innovative … explicitly illustrate the sensitivity of the estimated effect of biofuels production on prices. Our best estimates suggest that … prices, but a much smaller impact on global food prices. ; Over the past two years (ending June 2008), we estimate that the …