Biofuel-related price transmission literature: A review

In this article, an extensive review of the rapidly growing biofuel-related time-series literature is carried out. The data used, the modeling techniques and the main findings of this literature are discussed. Providing a review of this flourishing research area is relevant as a guidepost for future research. This literature concludes that energy prices drive long-run agricultural price levels and that instability in energy markets is transferred to food markets. (C) 2013 Elsevier B.V. All rights reserved.