Abstract
AbstractTime-series data for the USA and Europe representing prices of agricultural commodities, biofuels and fossil fuels are used for a comparative analysis of long-run price relationships. There is some evidence for cointegration between ethanol and gasoline, especially for the USA, and in the case of biodiesel, stronger evidence of cointegration between biodiesel, diesel and soya oil for both the USA and the Europe. Finally, biofuel prices do not seem to influence agricultural commodity prices or fossil fuel prices.
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