Regime-dependent topological properties of biofuels networks

  • Ladislav Kristoufek
  • Karel Janda
  • David Zilberman
Regular Article

DOI: 10.1140/epjb/e2012-30871-9

Cite this article as:
Kristoufek, L., Janda, K. & Zilberman, D. Eur. Phys. J. B (2013) 86: 40. doi:10.1140/epjb/e2012-30871-9

Abstract

In this paper, we analyze the relationships between biodiesel, ethanol and related fuels and agricultural commodities with a use of minimal spanning trees and hierarchical trees. To distinguish between short term and long term effects, we construct the trees for different frequencies (weekly, monthly and quarterly). At lower frequencies, the system splits into two well separated branches – a fuels part and a food part. Biodiesel tends to the fuels branch and ethanol to the food branch. We especially concentrate on the links and comovements between the commodities for different stages of the market based on the level of prices of important commodities or groups of commodities. Such approach uncovers some more interesting results and, in general, confirms the separation of network into fuels and food for majority of analyzed cases.

Keywords

Statistical and Nonlinear Physics 

Copyright information

© EDP Sciences, SIF, Springer-Verlag Berlin Heidelberg 2013

Authors and Affiliations

  • Ladislav Kristoufek
    • 1
    • 2
  • Karel Janda
    • 2
    • 3
  • David Zilberman
    • 4
  1. 1.Institute of Information Theory and AutomationAcademy of Sciences of the Czech RepublicPragueCzech Republic
  2. 2.Institute of Economic Studies, Faculty of Social SciencesCharles University in PraguePragueCzech Republic
  3. 3.Department of Banking and InsuranceFaculty of Finance and Accounting, University of EconomicsPragueCzech Republic
  4. 4.Department of Agricultural and Resource EconomicsUniversity of CaliforniaBerkeleyUSA

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