The Economics of Alternative Energy Sources and Globalization

Food Before Fuel: Issues and Price Effect

Author(s): Zibin Zhang and Michael Wetzstein

Pp: 109-113 (5)

DOI: 10.2174/978160805233211101010109

* (Excluding Mailing and Handling)

Abstract

Fuel-ethanol expansion contributed to the recent volatility in agricultural commodity prices, causing a price bubble. Results indicate decentralized competitive markets will mitigate any persistent price volatility. Policies should then be directed toward preventing the occurrence of price bubbles and, if they do occur, diminishing their magnitude.

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