The growing expansion of biofuel production in the European Union is a direct consequence of the political framework specifically implemented to reduce the impact of oil price rises and to achieve fuel security and environmental goals. These policies have activated a new relationship between fossil fuel and vegetable oil prices. Combining a multiple structural change approach with rolling cointegration, the article identifies four structural breaks in the relationships between the price of mineral and vegetable oils. Results show that policy instruments are responsible for these structural changes in the long-run relationships between prices. The analysis also shows that from the implementation of the directive 2003/30/EC the price dynamic of rapeseed oil has shifted from its own market to the diesel market, making it subject to interactions with the more complex reality of mineral oil.

The effect of biofuel policies on feedstock market : empirical evidence for rapeseed oil prices in EU / M. Peri, L. Baldi. - In: RESOURCE AND ENERGY ECONOMICS. - ISSN 0928-7655. - 35:1(2013 Jan), pp. 18-37.

The effect of biofuel policies on feedstock market : empirical evidence for rapeseed oil prices in EU

M. Peri
;
L. Baldi
Secondo
2013

Abstract

The growing expansion of biofuel production in the European Union is a direct consequence of the political framework specifically implemented to reduce the impact of oil price rises and to achieve fuel security and environmental goals. These policies have activated a new relationship between fossil fuel and vegetable oil prices. Combining a multiple structural change approach with rolling cointegration, the article identifies four structural breaks in the relationships between the price of mineral and vegetable oils. Results show that policy instruments are responsible for these structural changes in the long-run relationships between prices. The analysis also shows that from the implementation of the directive 2003/30/EC the price dynamic of rapeseed oil has shifted from its own market to the diesel market, making it subject to interactions with the more complex reality of mineral oil.
Rapeseed oil market; Biofuel policy; Diesel price; Multiple structural changes; Rolling cointegration
Settore AGR/01 - Economia ed Estimo Rurale
gen-2013
Article (author)
File in questo prodotto:
File Dimensione Formato  
PeriBaldi.pdf

accesso riservato

Descrizione: articolo principale
Tipologia: Post-print, accepted manuscript ecc. (versione accettata dall'editore)
Dimensione 504.7 kB
Formato Adobe PDF
504.7 kB Adobe PDF   Visualizza/Apri   Richiedi una copia
1-s2.0-S0928765512000656-main.pdf

accesso riservato

Tipologia: Publisher's version/PDF
Dimensione 504.26 kB
Formato Adobe PDF
504.26 kB Adobe PDF   Visualizza/Apri   Richiedi una copia
Pubblicazioni consigliate

I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.

Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/2434/232094
Citazioni
  • ???jsp.display-item.citation.pmc??? ND
  • Scopus 20
  • ???jsp.display-item.citation.isi??? 20
social impact