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A Dynamic General Equilibrium Model of Food and Energy Crop

Applied Economics Journal

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Field Value
 
Title A Dynamic General Equilibrium Model of Food and Energy Crop
 
Creator Premashthira, Aerwadee
Lyon, Kenneth S.
 
Description Abstract This essay develops a dynamic general equilibrium model of an energy crop. The model can guide policy to resolve the ‘food or fuel’ dilemma. Data from Thailand were employed in calibrating the model, with cassava as the energy crop. The stationary state solution gave the set of optimal consumption, production, and allocation of resources in the economy. An approximation of optimal policy function and optimal time paths was derived by using the linear approximation method and the Runke-Kutta reverse shooting method.The results of the model provide the basic information for decision makers in optimal allocation of resources for the production of crops for food and biofuel. Keywords : energy crop, optimal control, sustainable developmentJEL Classification : C61, Q40
 
Publisher The Center for Applied Economics Research (CAER)
 
Date 2013-07-25
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
 
Format application/pdf
 
Identifier //tci-thaijo.org/index.php/AEJ/article/view/10281
 
Source Applied Economics Journal; Vol 19 No 2 (2012): December; 18-36
2586-9132
2586-9124
 
Language eng
 
Relation //tci-thaijo.org/index.php/AEJ/article/view/10281/9287
 
Rights Copyright (c) 2014 Applied Economics Journal
http://creativecommons.org/licenses/by-nc-nd/4.0