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Článek našich kolegů v Nature Energy


Článek našich kolegů Ondřeje Filipa, Karla Jandy a Ladislava Krištoufka společně s Davidem Zilbermanem z University of California Berkeley „Dynamics and evolution of the role of biofuels in global commodity and financial markets“ byl publikován v časopise Nature Energy, který získal pro rok 2018 (JCR 20117) impakt faktor 47 a article influence score 16, tedy na úrovni špičkových časopisů Nature a Science.

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Biofuels form part of a complex system comprising their production factors (usually agricultural commodities) and raw and retail fuels. Recently, it has been suggested that biofuels might affect or be affected by financial assets such as exchange rates, interest rates, stocks, and by other commodities. However, further extensive studies are required to investigate this. Here we present a combination of minimum spanning trees correlation filtration and wavelet analysis uncovering the ties in a wide portfolio of 33 commodities and relevant assets for biofuels between 2003 and 2016. We show that for Brazilian and US ethanol, their respective feedstocks lead biofuels prices, and not vice versa. This dynamic remains qualitatively unchanged when controlling for the influence of crude oil prices. In contrast, European biodiesel exhibits only moderate ties to its production factors. Other financial factors do not interact significantly with biofuel prices in general.

Článek vznikl díky financování z projektů 

  • Beyond Green Paradoxes: Microeconomic, Econometric and Meta-Analysis Framework for Investigation of Unintended Effects of Climate and Energy Policies. Grant Agency of the Czech Republic. Grant number 16-00027S.
  • GEMCLIME (European Union’s Horizon 2020 Research and Innovation Staff Exchange programme under the Marie Sklodowska-Curie grant agreement No 681228.) 


Autor - Mgr. Lucie Křížová M.A.


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