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The optimal carbon sequestration in agricultural soils: Do the dynamics of the physical process matter?

Author

Listed:
  • Lionel Ragot

    (CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique)

  • Katheline Schubert

    (CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique, PSE - Paris School of Economics - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - ENPC - École nationale des ponts et chaussées - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement)

Abstract

The Kyoto Protocol, which came into force in February 2005, allows countries to resort to ‘supplementary activities', consisting particularly in carbon sequestration in agricultural soils. Existing papers studying the optimal carbon sequestration recognize the importance of the temporality of sequestration, but overlook the fact that it is an asymmetric dynamic process. This paper takes explicitly into account the temporality of sequestration. Its first contribution lies in the modelling of the asymmetry of the sequestration/de-sequestration process at a micro level, and of its consequences at a macro level. Its second contribution is empirical. We compute numerically the optimal path of sequestration/de-sequestration for specific damage and cost functions, and a calibration that mimics roughly the world conditions. We show that with these assumptions sequestration must be permanent, and that the error made when sequestration is supposed immediate can be very significant.

Suggested Citation

  • Lionel Ragot & Katheline Schubert, 2008. "The optimal carbon sequestration in agricultural soils: Do the dynamics of the physical process matter?," Post-Print halshs-00308806, HAL.
    • Handle: RePEc:hal:journl:halshs-00308806
    DOI: 10.1016/j.jedc.2008.03.007
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    Cited by:

    1. Carmen Camacho & Agustín Pérez-Barahona, 2012. "Land use dynamics and the environment," Post-Print halshs-00674020, HAL.
    2. Camacho, Carmen & Pérez-Barahona, Agustín, 2015. "Land use dynamics and the environment," Journal of Economic Dynamics and Control, Elsevier, vol. 52(C), pages 96-118.
    3. Madhu Khanna & Amy Ando, 2009. "Science, economics and the design of agricultural conservation programmes in the US," Journal of Environmental Planning and Management, Taylor & Francis Journals, vol. 52(5), pages 575-592.
    4. Ayong Le Kama, Alain & Fodha, Mouez & Lafforgue, Gilles, 2009. "Optimal Carbon Capture and Storage Policies," TSE Working Papers 09-095, Toulouse School of Economics (TSE).
    5. Mireille Chiroleu-Assouline & Sebastien Roussel, 2014. "Payments for Carbon Sequestration in Agricultural Soils: Incentives for the Future and Rewards for the Past," CEEES Paper Series CE3S-01/14, European University at St. Petersburg, Department of Economics.
    6. Yusuke Kuwayama & Nicholas Brozović, 2017. "Optimal Management of Environmental Externalities with Time Lags and Uncertainty," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 68(3), pages 473-499, November.
    7. Sharma, Bijay P. & Khanna, Madhu & Miao, Ruiqing, 2022. "Designing Efficient Payments to Incentivize GHG Mitigation Using Energy Crops," 2022 Annual Meeting, July 31-August 2, Anaheim, California 322361, Agricultural and Applied Economics Association.
    8. Alejandro Caparrós & David Zilberman, 2010. "Optimal carbon sequestration path when different biological or physical sequestration," Working Papers 1018, Instituto de Políticas y Bienes Públicos (IPP), CSIC.
    9. Mireille Chiroleu-Assouline & Sébastien Roussel, 2010. "Contract Design to Sequester Carbon in Agricultural Soils," Documents de travail du Centre d'Economie de la Sorbonne 10060, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
    10. Fernández-Getino, A.P. & Alonso-Prados, J.L. & Santín-Montanyá, M.I., 2018. "Challenges and prospects in connectivity analysis in agricultural systems: Actions to implement policies on land management and carbon storage at EU level," Land Use Policy, Elsevier, vol. 71(C), pages 146-159.

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    JEL classification:

    • C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
    • H23 - Public Economics - - Taxation, Subsidies, and Revenue - - - Externalities; Redistributive Effects; Environmental Taxes and Subsidies
    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development
    • Q15 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Land Ownership and Tenure; Land Reform; Land Use; Irrigation; Agriculture and Environment

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