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Subsidies! The Other Incentive-Based Instrument: The Case of the Conservation Reserve Program

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Author Info
Hongli Feng
Catherine L. Kling () (Center for Agricultural and Rural Development (CARD))
Lyubov A. Kurkalova
Silvia Secchi

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Abstract

In this paper, we examine command-and-control (CAC) policies and market-based instruments (MBI) in the context of the Conservation Reserve Program (CRP). The CRP, an MBI in the form of subsidies, is by far the largest agro-environmental policy implemented to date. We compare the environmental performance of the CRP as implemented to a few counterfactual CAC polices using EPIC (Environmental Policy Integrated Climate), a bio-physical simulation model. In the context of multiple environmental indicators, no policy alternative emerges as a clear winner. The importance of the choice and design of CAC policies is emphasized.

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Publisher Info
Paper provided by Center for Agricultural and Rural Development (CARD) at Iowa State University in its series Center for Agricultural and Rural Development (CARD) Publications with number 03-wp345.

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Date of creation: Oct 2003
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Handle: RePEc:ias:cpaper:03-wp345

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Related research
Keywords: command-and-control policy Conservation Reserve Program market-based instrument.

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  1. Schmalensee, Richard, et al, 1998. "An Interim Evaluation of Sulfur Dioxide Emissions Trading," Journal of Economic Perspectives, American Economic Association, vol. 12(3), pages 53-68, Summer. [Downloadable!] (restricted)
  2. Oates, Wallace E & Portney, Paul R & McGartland, Albert M, 1989. "The Net Benefits of Incentive-Based Regulation: A Case Study of Environmental Standard Setting," American Economic Review, American Economic Association, vol. 79(5), pages 1233-42, December. [Downloadable!] (restricted)
  3. Babcock, Bruce A. & Lakshminarayan, P. G. & Wu, JunJie & Zilberman, David, 1997. "Economics of a Public Fund for Environmental Amenities (The)," Staff General Research Papers 1065, Iowa State University, Department of Economics.
  4. Wu, Junjie, 2000. " Slippage Effects of the Conservation Reserve Program," American Journal of Agricultural Economics, American Agricultural Economics Association, vol. 82(4), pages 979-92, November. [Downloadable!] (restricted)
  5. Curtis Carlson & Dallas Burtraw & Maureen Cropper & Karen L. Palmer, 2000. "Sulfur Dioxide Control by Electric Utilities: What Are the Gains from Trade?," Journal of Political Economy, University of Chicago Press, vol. 108(6), pages 1292-1326, December. [Downloadable!] (restricted)
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  6. Hahn, Robert W, 1989. "Economic Prescriptions for Environmental Problems: How the Patient Followed the Doctor's Orders," Journal of Economic Perspectives, American Economic Association, vol. 3(2), pages 95-114, Spring. [Downloadable!] (restricted)
  7. Arimura, Toshi H., 2002. "An Empirical Study of the SO2 Allowance Market: Effects of PUC Regulations," Journal of Environmental Economics and Management, Elsevier, vol. 44(2), pages 271-289, September. [Downloadable!] (restricted)
  8. Holderness, Clifford G, 1989. "The Assignment of Rights, Entry Effects, and the Allocation of Resources," Journal of Legal Studies, University of Chicago Press, vol. 18(1), pages 181-89, January.
  9. WU, JunJie & Babcock., Bruce A., 1996. "Relative Efficiency of Voluntary Versus Mandatory Environmental Regulations (The)," Staff General Research Papers 1014, Iowa State University, Department of Economics. [Downloadable!]
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  10. Kling, Catherine L., 2005. "Emission Trading vs. Rigid Regulations in the Control of Vehicle Emissions," Staff General Research Papers 12333, Iowa State University, Department of Economics.
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