Biofuels-economical and ecological impact
|Author:||Bc. Václav Kalous|
|Year:||2019 - summer|
|Leaders:|| prof. Ing. Karel Janda M.A., Dr., Ph.D.
|Work type:|| Bachelors
|Awards and prizes:|
|Abstract:||This thesis analyses the price transmission between biodiesel and its major
feedstocks. In the beginning of the text, previous findings regarding the field
of biodiesel are summarized and the feedstocks are described. The following
research consist of studying weekly prices of biodiesel, diesel, palm oil, rapeseed, soybeans, sunflower seed and cotton with the use of econometric methods
dedicated to time series analysis, namely Johansen cointegration test, impulse
response function and vector error correction model. Our dataset covers the
time period from 2003 until 2019 and includes the two biggest biodiesel marketsEuropean Union and United States. Results of our computations suggest that
the prices studied exhibited both a short and long-run co movement, whose
nature changes as time passes.