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Time Path and Implementation of Carbon Sequestration (The)

Author

Listed:
  • Feng, Hongli
  • Zhao, Jinhua
  • Kling, Catherine L.

Abstract

We develop a dynamic model to investigate the optimal time paths of carbon emissions, sequestration, and the carbon stock. We show that carbon sinks should be utilized as early as possible, and carbon flow into sinks should last until the atmospheric carbon concentration is stabilized. We rule out any cyclical patterns of carbon sequestration and release. We propose and assess three mechanisms to efficiently introduce sequestration into a carbon permit trading market: a pay-as-you-go system, a variable-length-contract system and a carbon annuity account system. Although the three mechanisms may not be equally feasible to implement, they are all efficient.

Suggested Citation

  • Feng, Hongli & Zhao, Jinhua & Kling, Catherine L., 2002. "Time Path and Implementation of Carbon Sequestration (The)," Staff General Research Papers Archive 5068, Iowa State University, Department of Economics.
  • Handle: RePEc:isu:genres:5068
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    Citations

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    Cited by:

    1. de Cara, Stephane & Rozakis, Stelios, 2004. "Carbon sequestration through the planting of multi-annual energy crops: A dynamic and spatial assessment," Agricultural Economics Review, Greek Association of Agricultural Economists, vol. 5(1), January.
    2. Hongli Feng & Catherine L. Kling, 2005. "The Consequences of Cobenefits for the Efficient Design of Carbon Sequestration Programs," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 53(4), pages 461-476, December.
    3. Xabadia, Angels & Goetz, Renan-Ulrich & Zilberman, David, 2005. "Technology Adoption by Heterogeneous Producers to Regulate a Stock Externality," 2005 Annual meeting, July 24-27, Providence, RI 19538, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    4. 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.
    5. Ragot, Lionel & Schubert, Katheline, 2008. "The optimal carbon sequestration in agricultural soils: Do the dynamics of the physical process matter?," Journal of Economic Dynamics and Control, Elsevier, vol. 32(12), pages 3847-3865, December.
    6. Alejandro Caparrós & Emilio Cerdá & Paola Ovando & Pablo Campos, 2010. "Carbon Sequestration with Reforestations and Biodiversity-scenic Values," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 45(1), pages 49-72, January.
    7. Dumortier, Jerome Robert Florian, 2011. "The impact of forest offset credits under a stochastic carbon price on agriculture using a rational expectations and real options framework," ISU General Staff Papers 201101010800001160, Iowa State University, Department of Economics.
    8. Xabadia, Angels & Goetz, Renan U. & Zilberman, David, 2006. "Control of accumulating stock pollution by heterogeneous producers," Journal of Economic Dynamics and Control, Elsevier, vol. 30(7), pages 1105-1130, July.
    9. Hediger, Werner, 2009. "The non-permanence of optimal soil carbon sequestration," 83rd Annual Conference, March 30-April 1, 2009, Dublin, Ireland 51057, Agricultural Economics Society.
    10. Gulati, Sumeet & Vercammen, James, 2006. "Time inconsistent resource conservation contracts," Journal of Environmental Economics and Management, Elsevier, vol. 52(1), pages 454-468, July.
    11. de Cara, Stephane & Rozakis, Stelios, 2003. "Carbon sequestration in agricultural soils: A dynamic assessment," 2003 Annual meeting, July 27-30, Montreal, Canada 21913, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    12. Haim, David & Plantinga, Andrew J. & Thomann, Enrique, 2014. "The optimal time path for carbon abatement and carbon sequestration under uncertainty: The case of stochastic targeted stock," Resource and Energy Economics, Elsevier, vol. 36(1), pages 151-165.
    13. Gren, Ing-Marie & Zeleke, Abenezer Aklilu, 2016. "Policy design for forest carbon sequestration: A review of the literature," Forest Policy and Economics, Elsevier, vol. 70(C), pages 128-136.
    14. Feng, Hongli & Kling, Catherine L., 2005. "Consequences of Co-Benefits for the Efficient Design of Carbon Sequestration Programs, The," Staff General Research Papers Archive 12269, Iowa State University, Department of Economics.
    15. Stéphane De Cara & Martin Houzé & Pierre-Alain Jayet, 2004. "Greenhouse gas emissions from agriculture in the EU: A spatial assessment of sources and abatement costs," Working Papers 2004/04, INRA, Economie Publique.
    16. 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.
    17. Feng, Hongli & Kling, Catherine L., 2005. "Carbon Sequestration in Agriculture: an Offset Program versus Other Conservation Programs," 2005 Annual meeting, July 24-27, Providence, RI 19177, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    18. Ervola, Asta & Lankoski, Jussi E. & Ollikainen, Markku, 2010. "Mitigation options and policies in agricultural sector: a theoretical model and application," 120th Seminar, September 2-4, 2010, Chania, Crete 109320, European Association of Agricultural Economists.
    19. Timothy Capon & Michael Harris & Andrew Reeson, 2013. "The Design of Markets for Soil Carbon Sequestration," Economic Papers, The Economic Society of Australia, vol. 32(2), pages 161-173, June.
    20. repec:hal:journl:halshs-00115685 is not listed on IDEAS
    21. van 't Veld, Klaas & Plantinga, Andrew, 2005. "Carbon sequestration or abatement? The effect of rising carbon prices on the optimal portfolio of greenhouse-gas mitigation strategies," Journal of Environmental Economics and Management, Elsevier, vol. 50(1), pages 59-81, July.
    22. Man, Cosmin D. & Lyons, Kevin C. & Nelson, John D. & Bull, Gary Q., 2015. "Cost to produce Carbon credits by reducing the harvest level in British Columbia, Canada," Forest Policy and Economics, Elsevier, vol. 52(C), pages 9-17.

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