Carbon sequestration in agricultural soils: A dynamic assessment
We examine the spatial and dynamic implications of policies aimed at encouraging carbon sequestration in agricultural soils. We consider incentive mechanisms to encourage the planting of energy multi-annual crops that allow higher carbon sequestration rates for a longer period of time. By using a dynamic micro-economic model, we simulate the sequence of crop plantings over a given time horizon and investigate different payment mechanisms (per-ton or per-hectare). We discuss their implications in terms of regulation policy and efficiency. This model is then applied to the Central Plains of Thessaly, Greece to assess the marginal costs of carbon sequestration and the optimal timing of switching to multi-annual energy crops. To do so, we couple the dynamic microeconomic model with a carbon accounting model and a geophysical database. We provide an assessment of the potential loss of efficiency related to the use of constant per-hectare payments. We also discuss the dynamic implications of these mechanisms, as well as their results in terms of spatial distribution.
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- Feng, Hongli & Zhao, Jinhua & Kling, Catherine L., 2002. "Time Path and Implementation of Carbon Sequestration (The)," Staff General Research Papers 5068, Iowa State University, Department of Economics.
- Antle, John & Capalbo, Susan & Mooney, Sian & Elliott, Edward & Paustian, Keith, 2003. "Spatial heterogeneity, contract design, and the efficiency of carbon sequestration policies for agriculture," Journal of Environmental Economics and Management, Elsevier, vol. 46(2), pages 231-250, September.
- Hongli Feng, 2002. "Dynamics of Carbon Sequestration and Measures of Cost-Effectiveness, The," Center for Agricultural and Rural Development (CARD) Publications 02-wp320, Center for Agricultural and Rural Development (CARD) at Iowa State University.
- Bruce A. McCarl & Brian C. Murray & Uwe A. Schneider, 2001. "Influences of Permanence on the Comparative Value of Biological Sequestration versus Emissions Offsets," Center for Agricultural and Rural Development (CARD) Publications 01-wp282, Center for Agricultural and Rural Development (CARD) at Iowa State University.
- de Cara, Stephane & Jayet, Pierre-Alain, 2001. "Agriculture And Climate Change In The Eu: Greenhouse Gas Emissions And Abatement Costs," 2001 Annual meeting, August 5-8, Chicago, IL 20577, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
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