Agricultural Land Elasticities in the United States and Brazil
AbstractThe elasticity of aggregate supply of cropland is one key to understandingthe degree to which policy-induced increases in demand for biofuel feedstocksor agricultural CO2 offsets will result in higher prices or expanded cropproduction. We report land supply elasticities for the United States and Brazilestimated directly from recent changes in planted crop acreage and estimatedchanges in expected returns. The resulting aggregate implied land-use elasticitieswith respect to price are quite inelastic in the United States and Brazil elasticitieshave declined sharply in recent years. The estimated elasticities imply that currentestimates of land-based CO2 emissions from biofuels expansion may be overstated
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Bibliographic InfoPaper provided by Iowa State University, Department of Economics in its series Staff General Research Papers with number 34893.
Date of creation: 08 Nov 2011
Date of revision:
Publication status: Published in Applied Economic Perspectives and Policy 2011, vol. 33 no. 3, pp. 449-462
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Postal: Iowa State University, Dept. of Economics, 260 Heady Hall, Ames, IA 50011-1070
Phone: +1 515.294.6741
Fax: +1 515.294.0221
Web page: http://www.econ.iastate.edu
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agricultural land elasticity; Brazil crop production; U.S. aggregate land supply elasticity;
Find related papers by JEL classification:
- Q10 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - General
- Q15 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Land Ownership and Tenure; Land Reform; Land Use; Irrigation; Agriculture and Environment
- Q18 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Policy; Food Policy
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