Politická ekonomie 2018, 66(2):218-239 | DOI: 10.18267/j.polek.1185

Ceny biopaliv a souvisejících komodit: analýza s použitím metod minimální kostry grafu a hierarchických stromů

Ondřej Filip1, Karel Janda2, Ladislav Krištoufek3
1 Ondřej Filip (ofilip38@gmail.com), Univerzita Karlova, Fakulta sociálních věd, Institut ekonomických studií
2 Karel Janda (Karel-Janda@seznam.cz), Univerzita Karlova, Fakulta sociálních věd, Institut ekonomických studií, Vysoká škola ekonomická v Praze, Fakulta financí a účetnictví
3 Ladislav Krištoufek (ladislav.kristoufek@fsv.cuni.cz), Univerzita Karlova, Fakulta sociálních věd, Institut ekonomických studií

Prices of Biofuels and Related Commodities: an Analysis Using Methods of Minimum Spanning Tree and Hierarchical Tree

The article investigates the connections between the prices of biofuels and many traded commodities and other relevant assets in Europe, USA and Brazil. The analysis uses a comprehensive dataset covering price data for 32 relevant traded titles over the period 2003-2015. Main contribution of this article is a combination of minimum spanning tree and hierarchical tree approaches with expert economic understanding of biofuels market leading to identification of price connections in a complex trading system. Our analysis of mutual price connections discovers the major defining features of world leading biofuels markest over the last decade. We provide characteristics of main bioethanol and biodiesel markets with respect to technical and local features of the production and consumption of particular biofuels.

Keywords: biofuels, networks, minimal spanning tree, hierarchical tree
JEL classification: C38, Q16, Q42

Published: April 1, 2018  Show citation

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Filip, O., Janda, K., & Krištoufek, L. (2018). Prices of Biofuels and Related Commodities: an Analysis Using Methods of Minimum Spanning Tree and Hierarchical Tree. Politická ekonomie66(2), 218-239. doi: 10.18267/j.polek.1185
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