About: Time-frequency dynamics of biofuel-fuel-food system

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rdf:type	skos:Concept http://linked.opendata.cz/ontology/domain/vavai/Vysledek
Description	For the first time, we apply the wavelet coherence methodology on biofuels (ethanol and biodiesel) and a wide range of related commodities (gasoline, diesel, crude oil, corn, wheat, soybeans, sugarcane and rapeseed oil). This way, we are able to investigate dynamics of correlations in time and across scales (frequencies) with a model-free approach. We show that correlations indeed vary in time and across frequencies. We find two highly correlated pairs which are strongly connected at low frequencies - ethanol with corn and biodiesel with German diesel - during almost the whole analyzed period (2003-2011). Structure of correlations remarkably changes during the food crisis - higher frequencies become important for both mentioned pairs. This implies that during stable periods, ethanol is correlated with corn and biodiesel is correlated with German diesel mainly at low frequencies so that they follow a common long-term trend. However, in the crisis periods, ethanol (biodiesel) is led by corn (German diesel) even at high frequencies (low scales), which implies that the biofuels prices react more rapidly to the changes in their producing factors. For the first time, we apply the wavelet coherence methodology on biofuels (ethanol and biodiesel) and a wide range of related commodities (gasoline, diesel, crude oil, corn, wheat, soybeans, sugarcane and rapeseed oil). This way, we are able to investigate dynamics of correlations in time and across scales (frequencies) with a model-free approach. We show that correlations indeed vary in time and across frequencies. We find two highly correlated pairs which are strongly connected at low frequencies - ethanol with corn and biodiesel with German diesel - during almost the whole analyzed period (2003-2011). Structure of correlations remarkably changes during the food crisis - higher frequencies become important for both mentioned pairs. This implies that during stable periods, ethanol is correlated with corn and biodiesel is correlated with German diesel mainly at low frequencies so that they follow a common long-term trend. However, in the crisis periods, ethanol (biodiesel) is led by corn (German diesel) even at high frequencies (low scales), which implies that the biofuels prices react more rapidly to the changes in their producing factors. (en)
Title	Time-frequency dynamics of biofuel-fuel-food system Time-frequency dynamics of biofuel-fuel-food system (en)
skos:prefLabel	Time-frequency dynamics of biofuel-fuel-food system Time-frequency dynamics of biofuel-fuel-food system (en)
skos:notation	RIV/00216208:11230/13:10173279!RIV14-GA0-11230___
http://linked.open...avai/predkladatel	Fakulta sociálních věd
http://linked.open...avai/riv/aktivita	I P
http://linked.open...avai/riv/aktivity	I, P(GAP402/11/0948), P(GBP402/12/G097)
http://linked.open...iv/cisloPeriodika	November
http://linked.open...vai/riv/dodaniDat	2014
http://linked.open...aciTvurceVysledku	Janda, Karel Krištoufek, Ladislav Vácha, Lukáš
http://linked.open.../riv/druhVysledku	J - Článek v odborném periodiku
http://linked.open...iv/duvernostUdaju	S - Úplné a pravdivé údaje nepodléhající ochraně podle zvláštních právních předpisů
http://linked.open...titaPredkladatele	Univerzita Karlova v Praze / Fakulta sociálních věd
http://linked.open...dnocenehoVysledku	111114
http://linked.open...ai/riv/idVysledku	RIV/00216208:11230/13:10173279
http://linked.open...riv/jazykVysledku	eng - angličtina
http://linked.open.../riv/klicovaSlova	wavelet coherence; correlations; prices; biofuels (en)
http://linked.open.../riv/klicoveSlovo	biofuels correlations prices wavelet coherence
http://linked.open...odStatuVydavatele	NL - Nizozemsko
http://linked.open...ontrolniKodProRIV	[35724DA6D593]
http://linked.open...i/riv/nazevZdroje	Energy Economics
http://linked.open...in/vavai/riv/obor	AH
http://linked.open...ichTvurcuVysledku	3 (xsd:int)
http://linked.open...cetTvurcuVysledku	4 (xsd:int)
http://linked.open...vavai/riv/projekt	DYME-Dynamic Models in Economics Developing Analytical Framework for Energy Security: Time-Series Econometrics, Game Theory, Meta-Analysis and Theory of Regulation
http://linked.open...UplatneniVysledku	2013
http://linked.open...v/svazekPeriodika	40
http://linked.open...iv/tvurceVysledku	Janda, Karel Krištoufek, Ladislav Vácha, Lukáš Zilberman, David
http://linked.open...ain/vavai/riv/wos	000329081300022
issn	0140-9883
number of pages	9 (xsd:int)
http://bibframe.org/vocab/doi	10.1016/j.eneco.2013.06.015
http://localhost/t...ganizacniJednotka	11230

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