Energy substitutability in transition agriculture: estimates and implications for Hungary

Subsidised energy prices in pre-transition Hungary had led to excessive energy intensity in the agricultural sector. Transition has resulted in steep input price increases. In this study, Allen and Morishima elasticities of substitution are estimated to study the effects of these price changes on energy use, chemical input use, capital formation and employment. Panel data methods, Generalised Method of Moments (GMM) and instrument exogeneity tests are used to specify and estimate technology and substitution elasticities. Results indicate that indirect price policy may be effective in controlling energy consumption. The sustained increases in energy and chemical input prices have worked together to restrict energy and chemical input use, and the substitutability between energy, capital and labour has prevented the capital shrinkage and agricultural unemployment situations from being worse. The Hungarian push towards lower energy intensity may be best pursued through sustained energy price increases rather than capital subsidies. (C) 2003 Elsevier B.V. All rights reserved.

Crisis de la energía y la agricultura: evaluación de los antecedentes = Energy crisis and agriculture: a background assessment

Incluye Bibliografía

Indicators to the consumption of electric energy and agriculture cattle farming production for the elaboration of clusters with cities of the state of São Paulo, Brazil

The issue in this matter is that rules for use of electricity in rural areas are limited to the provision of inputs. Adopting guidelines to consider managed sub regions can generate poor results. The focus of this study was to present parameters for indicators of electric energy and agricultural production to allow the formation of city groups in Sao Paulo State, Brazil, with similar electric energy consumption and rural agricultural production. The methodology was the development of indicators that characterize the electric energy consumption/agricultural production and the preparation of groups using indicators with ward of statistical method of groups. The main conclusions were the formation of six homogeneous groups with similar characteristics regarding agricultural production/consumption of electricity. The application of these groups in cities with similar characteristics would produce more satisfactory results than the division of administrative Rural Development Offices (RDO).

Volatility spillovers for spot, futures, and ETF prices in energy and agriculture

The agricultural and energy industries are closely related, both biologically and financially. The paper discusses the relationship and the interactions on price and volatility, with special focus on the covolatility spillover effects for these two industries. The interaction and covolatility spillovers or the delayed effect of a returns shock in one asset on the subsequent volatility or covolatility in another asset, between the energy and agricultural industries is the primary emphasis of the paper. Although there has already been significant research on biofuel and biofuel-related crops, much of the previous research has sought to find a relationship among commodity prices. Only a few published papers have been concerned with volatility spillovers. However, it must be emphasized that there have been numerous technical errors in the theoretical and empirical research, which needs to be corrected. The paper not only considers futures prices as a widely-used hedging instrument, but also takes an interesting new hedging instrument, ETF, into account. ETF is regarded as index futures when investors manage their portfolios, so it is possible to calculate an optimal dynamic hedging ratio. This is a very useful and interesting application for the estimation and testing of volatility spillovers. In the empirical analysis, multivariate conditional volatility diagonal BEKK models are estimated for comparing patterns of covolatility spillovers. The paper provides a new way of analyzing and describing the patterns of covolatility spillovers, which should be useful for the future empirical analysis of estimating and testing covolatility spillover effects.

Management of the Tongass National Forest [microform] : hearings before the Subcommittee on Forests, Family Farms, and Energy of the Committee on Agriculture, House of Representatives, One Hundredth Congress, second session, on H.R. 1516, May 25 and 26, 1988.

"Serial no. 100-86."

Timber sales on national forests [microform] : hearings before the Subcommittee on Forests, Family Farms, and Energy of the Committee on Agriculture, House of Representatives, One Hundredth Congress, first session, June 17 and 18, 1987.

"Serial no. 100-47."

Exchange certain national forest system lands in the Targhee National Forest [microform] : hearing before the Subcommittee on Forests, Family Farms, and Energy of the Committee on Agriculture, House of Representatives, One Hundredth Congress, second session, on H.R. 4028, April 16, 1988; Driggs, ID and April 27, 1988.

"Serial no. 100-88."

Middle Atlantic Interstate Forest Fire Protection Compact to include the state of Ohio; land conveyance in Henderson, TN; and release a revisionary interest of the United States in certain land located in Oktibbeha County, MS [microform] : hearings before the Subcommittee on Forests, Family Farms, and Energy of the Committee on Agriculture, House of Representatives, One Hundredth Congress, second session, on H.R. 2756, H.R. 2835, and H.R. 4724, May 4, 1988 ... September 22, 1988 ....

"Serial no. 100-89."