Scandinavian Working Papers in Economics

Umeå Economic Studies,
Umeå University, Department of Economics

No 634: Biofuels and Market Power - The Case of Swedish District Heating Plants

Magnus Sjöström ()
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Magnus Sjöström: Department of Economics, Umeå University, Postal: S 901 87 Umeå, Sweden

Abstract: This paper tests for market power on the market for biofuels, employing a statistical model and making use of the idea of Granger causality. We use a panel data set of plant specific input prices and quantities of wood chip covering 91 Swedish district heating plants 1990-1996. If quantity Granger causes price, it is taken as an indication of market power. We find that the Swedish district heating plants to some degree have market power in the market for wood chips.

Keywords: market power; Granger causality; VAR; biofuel; district heating

JEL-codes: C33; D21; D43; L13; Q40

14 pages, May 11, 2004

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