The large-scale diversion of crops into mandates-driven biofuels since early 2000s, has raised concerns about impacts of biofuel policies on food prices. This study examines crude oil-corn-livestock dynamic linkages from January 1987 until December 2019 in Ontario, Canada. A significant structural break is identified in March 2011 as biofuel policy impacts become fully implemented and splits the three-decade period into pre- and post-break sub-periods. A nonlinear autoregressive distributed lag (NARDL) approach is employed since it allows price...
