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Agricultural Land Elasticities in the United States and Brazil

  • Kanlaya J. Barr
  • Bruce A. Babcock
  • Miguel A. Carriquiry
  • Andre M. Nassar
  • Leila Harfuch

The elasticity of aggregate supply of cropland is one key to understanding the degree to which policy-induced increases in demand for biofuel feedstocks or agricultural CO 2 offsets will result in higher prices or expanded crop production. We report land supply elasticities for the United States and Brazil estimated directly from recent changes in planted crop acreage and estimated changes in expected returns. The resulting aggregate implied land-use elasticities with respect to price are quite inelastic in the United States and Brazil elasticities have declined sharply in recent years. The estimated elasticities imply that current estimates of land-based CO 2 emissions from biofuels expansion may be overstated Copyright 2011, Oxford University Press.

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Article provided by Agricultural and Applied Economics Association in its journal Applied Economic Perspectives and Policy.

Volume (Year): 33 (2011)
Issue (Month): 3 ()
Pages: 449-462

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Handle: RePEc:oup:apecpp:v:33:y:2011:i:3:p:449-462
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  1. Davison, Cecil W. & Crowder, Bradley M., 1991. "Northeast Soybean Acreage Response Using Expected Net Returns," Northeastern Journal of Agricultural and Resource Economics, Northeastern Agricultural and Resource Economics Association, vol. 20(1), April.
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  5. Tristan Brown & Amani Elobeid & Jerome Dumortier & Dermot J. Hayes, 2010. "Market Impact of Domestic Offset Programs," Food and Agricultural Policy Research Institute (FAPRI) Publications 10-wp502, Food and Agricultural Policy Research Institute (FAPRI) at Iowa State University.
  6. Chad E. Hart & Bruce A. Babcock, 2005. "Loan Deficiency Payments versus Countercyclical Payments: Do We Need Both for a Price Safety Net?," Center for Agricultural and Rural Development (CARD) Publications 05-bp44, Center for Agricultural and Rural Development (CARD) at Iowa State University.
  7. Tweeten, Luther G & Quance, C Leroy, 1969. "Positivistic Measures of Aggregate Supply Elasticities: Some New Approaches," American Economic Review, American Economic Association, vol. 59(2), pages 175-83, May.
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  9. Houck, James P. & Ryan, Mary E., 1972. "Supply Analysis For Corn In The United States: The Impact Of Changing Government Programs," Staff Papers 13554, University of Minnesota, Department of Applied Economics.
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