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de Gorter, Harry; Just, David R.; Tan, Qinwen. |
We determine how the U.S. ethanol tax credit and import tariff affect the corn-ethanol-gasoline markets and how farm subsidies interact with these policies. We show how the ethanol tax credit and import tariff each uniquely affect the ethanol and gasoline prices. The ethanol import tariff alone increases the terms of trade in ethanol imports and corn exports, but decreases the terms of trade in gasoline imports and the tax costs of farm price supports. With price-contingent farm subsidies in place, the optimal tariff and tax credit will depend on the price level. When farm subsidy expenditures are high, import subsidies for ethanol may increase social welfare due to the substantial size of the fuel market relative to the corn market. |
Tipo: Journal Article |
Palavras-chave: Biofuels; Ethanol; Tariffs; Tax credit; Welfare; Agricultural and Food Policy. |
Ano: 2009 |
URL: http://purl.umn.edu/49865 |
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Hayes, Dermot J.; Babcock, Bruce A.; Fabiosa, Jacinto F.; Tokgoz, Simla; Elobeid, Amani E.; Yu, Tun-Hsiang (Edward); Dong, Fengxia; Hart, Chad E.; Chavez, Eddie C.; Pan, Suwen; Carriquiry, Miguel A.; Dumortier, Jerome. |
We examined four evolution paths of the biofuel sector using a partial equilibrium world agricultural sector model in CARD that includes the new RFS in the 2007 EISA, a two-way relationship between fossil energy and biofuel markets, and a new trend toward corn oil extraction in ethanol plants. At one extreme, one scenario eliminates all support to the biofuel sector when the energy price is low, while the other extreme assumes no distribution bottleneck in ethanol demand growth when the energy price is high. The third scenario considers a pure market force driving ethanol demand growth because of the high energy price, while the last is a policy-induced shock with removal of the biofuel tax credit when the energy price is high. Standard results hold where... |
Tipo: Journal Article |
Palavras-chave: Biofuel; EISA; Ethanol; Tax credit; World agricultural sector model; Agribusiness; Consumer/Household Economics; Crop Production/Industries; Demand and Price Analysis; International Relations/Trade; Livestock Production/Industries; Political Economy; Production Economics; Resource /Energy Economics and Policy; Q13; Q18; Q38. |
Ano: 2009 |
URL: http://purl.umn.edu/53093 |
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Devadoss, Stephen; Kuffel, Martin. |
The United States has used tax credit and mandate to promote ethanol production. To offset the tax credit availed by the imported ethanol, the United States instituted an import tariff. This study ascertains the appropriate U.S. ethanol import tariff corresponding to the U.S. domestic policies by setting the policy-induced ethanol price equal to the free market price. The theoretical results from a horizontally-related ethanol-gasoline partial equilibrium model of three countries (the United States, Brazil, and the Rest of the World) show that the United States should provide an import subsidy rather than impose a tariff. The empirical results quantify that this import subsidy is $0.10, instead of a $0.57 import tariff, per gallon of ethanol. |
Tipo: Conference Paper or Presentation |
Palavras-chave: Ethanol imports; Mandate; Subsidy; Tariff; Tax credit; International Relations/Trade; F13. |
Ano: 2010 |
URL: http://purl.umn.edu/60889 |
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Hayes, Dermot J.; Babcock, Bruce A.; Fabiosa, Jacinto F.; Tokgoz, Simla; Elobeid, Amani E.; Yu, Tun-Hsiang (Edward); Dong, Fengxia; Hart, Chad E.; Chavez, Eddie C.; Pan, Suwen; Carriquiry, Miguel A.; Dumortier, Jerome. |
We examine four scenarios for the evolution of the biofuel sector using a partial equilibrium model of the world agricultural sector. The model includes the new Renewable Fuels Standard in the 2007 energy act, the two-way relationship between fossil energy and biofuel markets, and a new trend toward corn oil extraction in ethanol plants. At one extreme, one scenario eliminates all support to the biofuel sector when the energy price is low, while the other extreme assumes no distribution bottleneck in ethanol demand growth when the energy price is high. Of the remaining two scenarios, one considers a pure market force driving ethanol demand growth because of the high energy price while the other is a policy-induced shock with removal of the biofuel tax... |
Tipo: Working or Discussion Paper |
Palavras-chave: Biofuels; EISA; Ethanol; Tax credit; World agricultural sector model.; Agricultural and Food Policy. |
Ano: 2009 |
URL: http://purl.umn.edu/48597 |
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