year t vc,t = vehicle fuel efficiency in country c and year t k0, and k1, k2, k3, k4 = the intercepts and slope coefficients eq,c,t = the corresponding error terms. the endogenous fuel equations play an important role in the aglink-cosimo model when the latter is used to simulate different (extreme) crude...
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impact on corn prices. the us government heavily subsidizes corn farmers to boost ethanol production, and farmers make decisions about which crops to grow based on subsidies. if ethanol demand were to dissipate, then markets would have an excess supply of corn, and prices would likely head lower. crude...
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