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A Dynamic General Equilibrium Model of Food and Energy Crop |
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| รหัสดีโอไอ | |
| Creator | Aerwadee Premashthira and Kenneth S. Lyon |
| Title | A Dynamic General Equilibrium Model of Food and Energy Crop |
| Publisher | Center for Applied Economics Research (CAER), Faculty of Economics, Kasetsart University |
| Publication Year | 2555 |
| Journal Title | Applied Economics Journal |
| Journal Vol. | 2 |
| Journal No. | 19 |
| Page no. | p:18-36 |
| Keyword | energy crop, optimal control, sustainable development |
| ISSN | 0858-9291 |
| 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 |
