Disentangling Short-Run COVID-19 Price Impact Pathways in the US Corn Market

被引：2

作者：

Gao, Yixuan ^{[1
]}

Malone, Trey ^{[2
]}

Schaefer, K. Aleks ^{[3
]}

Myers, Robert J. ^{[1
]}

机构：

[1] Michigan State Univ, Dept Agr Food & Resource Econ, Lansing, MI 48912 USA

[2] Univ Arkansas, Dept Agr Econ & Agribusiness, Fayetteville, AR 72701 USA

[3] Oklahoma State Univ, Dept Agr Econ, Stillwater, OK 74078 USA

来源：

JOURNAL OF AGRICULTURAL AND RESOURCE ECONOMICS | 2023年 / 48卷 / 02期

关键词：

corn prices; COVID-19; ethanol; stay-at-home order; relative price of a substitute; FOOD-PRICES; METAANALYSIS; LABOR;

D O I：

10.22004/ag.econ.322846

中图分类号：

F3 [农业经济];

学科分类号：

0202 ; 020205 ; 1203 ;

摘要：

Using a data-modified version of the relative-price-of-a-substitute method, we distinguish the consequences of the sharp decline in US automotive fuel demand from the consequences of nonethanol demand changes in the US corn market. Our results suggest that-due to the renewable fuel standard , ethanol-gas price linkages-the COVID-19 pandemic affected corn markets more than it affected other agricultural commodities. The onset of the pandemic reduced Illinois cash prices for corn by approximately 18%. The majority of this impact (approximately 16%) was driven by pandemic-induced reductions in ethanol demand. Ethanol-driven and total impacts were greater in locations farther from terminal markets.

引用

页码：361 / +

页数：19

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