Since 2014
A Dynamic General Equilibrium Model of Food and Energy Crop
Applied Economics Journal
View Archive Info| Field | Value | |
| Title |
A Dynamic General Equilibrium Model of Food and Energy Crop
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| Creator |
Premashthira, Aerwadee
Lyon, Kenneth S. |
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| 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
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| Publisher |
The Center for Applied Economics Research (CAER)
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| Date |
2013-07-25
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| Type |
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion Peer-reviewed Article |
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| Format |
application/pdf
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| Identifier |
//tci-thaijo.org/index.php/AEJ/article/view/10281
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| Source |
Applied Economics Journal; Vol 19 No 2 (2012): December; 18-36
2586-9132 2586-9124 |
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| Language |
eng
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| Relation |
//tci-thaijo.org/index.php/AEJ/article/view/10281/9287
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| Rights |
Copyright (c) 2014 Applied Economics Journal
http://creativecommons.org/licenses/by-nc-nd/4.0 |
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