Abstract
The linear relationships between energy prices and prices for agricultural commodities such as corn and soybeans may have been affected, over the last several years, by policy legislations in the farm sector, the Energy Independence and Security Act of 2007, and the Renewable Fuel Standard Program for 2014. Using high-frequency data and newer methodology, this study investigates dependence between agricultural commodity futures prices and energy futures prices. Results reveal that agricultural commodity and energy future prices are highly correlated and exhibit positive and significant relationship. Findings from this study highlight that an increase in energy price increases the price of agricultural commodities.
| Original language | English (US) |
|---|---|
| Pages (from-to) | 430-436 |
| Number of pages | 7 |
| Journal | Energy |
| Volume | 81 |
| DOIs | |
| State | Published - Mar 1 2015 |
| Externally published | Yes |
Keywords
- Agricultural commodity prices
- Clayton copula
- Copula
- Dependency
- Energy prices
ASJC Scopus subject areas
- Mechanical Engineering
- General Energy
- Pollution
- Energy Engineering and Power Technology
- Electrical and Electronic Engineering
- Management, Monitoring, Policy and Law
- Industrial and Manufacturing Engineering
- Building and Construction
- Fuel Technology
- Renewable Energy, Sustainability and the Environment
- Civil and Structural Engineering
- Modeling and Simulation
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