16,163,502 Works

Climate-Smart Agriculture, a Mitigation Framework, and the ETS

James Shirley & James Shirley
This paper explores the potential contribution to climate change mitigation resulting from the adoption of the Climate-Smart Agriculture (CSA) mitigation scheme methodologies. CSA is an internationally recognized approach that helps guide the actions needed to transform and reorient agricultural systems, to effectively support sustainable development and ensure food security in a changing climate. CSA is based on principles developed in conjunction with the Intergovernmental Panel on Climate Change (IPCC), so its Mitigation Scheme framework of...

Welfare Effects of Minimum Wage and Other Government Policies

Amos Golan, Jeffrey M. Perloff, Ximing Wu, Amos Golan, Jeffrey M. Perloff & Ximing Wu
The minimum wage, unlike most government transfer programs, lowered welfare in the 1980s and 1990s as measured by all commonly used welfare or inequality measures, including various Atkinson indexes, the Gini index, standard deviation of logarithms, and others. The effects of most government programs, macroeconomic variables, and aggregate demographic characteristics were qualitatively the same for all the inequality measures.

Friction and the Multiplicity of Equilibria

Larry S. Karp, Thierry Paul, Larry S. Karp & Thierry Paul
In familiar models, a decrease in the friction facing mobile factors (e.g., lowering their adjustment costs) increases a coordination problem, leading to more circumstances where there are multiple equilibria. We show that a decrease in friction can decrease coordination problems if, for example, a production externality arises from a changing stock of knowledge or a changing environmental stock. In general, the relation between the amount of friction that mobile factors face and the likelihood of...

HOUSEHOLD MODELING FOR THE DESIGN OF POVERTY ALLEVIATION STRATEGIES

Alain De Janvry, Elisabeth Sadoulet, Alain De Janvry & Elisabeth Sadoulet
Insufficient access to assets is the main determinant of poverty. We analyze the role of access to assets in explaining household labor allocation strategies, sources of income, levels of income achieved, and poverty headcount ratios among classes of Mexican rural households. To assess the gains from asset redistribution, we both measure the direct income effects from redistribution and simulate the general equilibrium effects of redistribution in a computable non-separable household model. Results show that land...

Will U.S. Agriculture Really Benefit from Global Warming? Accounting for Irrigation in the Hedonic Approach

Wolfram Schlenker, W. Michael Hanemann, Anthony C. Fisher, Wolfram Schlenker, W. Michael Hanemann & Anthony C. Fisher

Optimal Share Contracts under Theft

Alain De Janvry, Elisabeth Sadoulet, Alain De Janvry & Elisabeth Sadoulet
Temptation for tenants to under-report output levels under share contracts is undoubtedly high. There is evidence that theft of product occurs and that this affects the design of share contracts. In this case, the optimal output share is chosen to not only induce effort but also to reduce theft of product, while meeting the landlord's limited liability obligation. The tenant's share thus rises with his desire and ability to steal. The optimal contract allows both...

Fishery Management Under Multiple Uncertainty

Gautam Sethi, Christopher Costello, Anthony C. Fisher, W. Michael Hanemann, Larry S. Karp, Gautam Sethi, Christopher Costello, Anthony C. Fisher, W. Michael Hanemann & Larry S. Karp
Among others who point to environmental variability and managerial uncertainty as causes of fishery collapse, Roughgarden and Smith (1996) argue that three sources of uncertainty are important for fisheries management: variability in fish dynamics, inaccurate stock size estimates, and inaccurate implementation of harvest quotas. We develop a bioeconomic model with these three sources of uncertainty, and solve for optimal escapement based on measurements of fish stock in a discrete-time model. Among other results we find:...

High rates of regular soil testing by Irish dairy farmers but nationally soil fertility is declining: Factors influencing national and voluntary adoption

E. Kelly, K. Heanue, C. O'Gorman, C. Buckley, E. Kelly, K. Heanue, C. O'Gorman & C. Buckley
Paradoxically, high rates of soil testing by Irish dairy farmers coexist with declining national soil fertility levels. This study investigates the anomaly further through identifying the characteristics of farms and farmers who regularly test soil in terms of policy, education, financial capacity, networks, and landmanagement practices. The study draws on data from a nationally representative sample of 231 specialist Irish dairy holdings. As policy mandates the use of soil tests for some farmers, a sub-sample...

Intersectoral Adjustment and Policy Intervention: the Importance of General Equilibrium Effects

Larry S. Karp, Thierry Paul, Larry S. Karp & Thierry Paul
We model adjustment costs in a general equilibrium setting using a "transport sector". This sector provides services needed to re-allocate a factor of production across two other sectors. A market imperfection in the transport sector causes adjustment to occur too slowly in the absence of government intervention. The government has a restricted menu of second best policies to remedy this imperfection. Given this restricted menu, the optimal policy choice depends on the government's ability to...

The Effect of Pollution Permit Allocations on Firm-Level Emissions

Meredith Fowlie, Jeffrey M. Perloff, Meredith Fowlie & Jeffrey M. Perloff
According to the Coase theorem, if property rights to pollute are clearly established and emissions markets nearly eliminate transaction costs, the market equilibrium will be independent of how the permits are initially allocated across firms. Using panel data from Southern California's RECLAIM program, we find that initial allocations are a statistically significant determinant of firm-level emissions. This relationship between allocation and emissions is stronger among firms with relatively high transaction costs. Thus, care must be...

Targeting and Calibrating Educational Grants for Greater Efficiency

Elisabeth Sadoulet, Alain De Janvry, Elisabeth Sadoulet & Alain De Janvry
Using grants programs to induce poor parents to send their children to school has received considerable attention as an instrument to break the inheritance of poverty. Yet, the cost of these programs tends to be quite high so that increasing their efficiency is an important issue that needs to be researched. We use the educational component of Progresa in Mexico to explore alternative targeting and calibrating schemes to achieve this purpose. We show that targeting...

Property Rights, Mobile Capital, and Comparative Advantage

Larry S. Karp & Larry S. Karp
Recent papers use sector-specific factor models with mobile labor to show that imperfect property rights can be a source of comparative advantage. In these model, weaker property rights to the specific factor in a sector attract the mobile factor and increase the country's comparative advantage for that sector. If capital in addition to labor is mobile, and if the benefits of capital are non-excludable or if the degree of property rights is endogenous, a deterioration...

Corn and Soybeans in the Central Black Soil Region of Russia: A fundamental shift in cropping patterns ahead of us?

Sergey Chetvertakov, Yelto Zimmer, Sergey Chetvertakov & Yelto Zimmer
Recent statistics show an increase in corn and soy production in the Voronezh region, one of Russia’s most important agricultural regions. This paper analyses the background of and the reasons for this development. To achieve this goal, the authors used data from agri benchmark typical farms and focus group discussions with farmers in Russia. The resulting analysis discloses the economic drivers of these changes in cropping patterns which clearly indicate a lasting shift in the...

Measuring Transactions Costs from Observed Behavior: Market Choice in Peru

Renos Vakis, Elisabeth Sadoulet, Alain De Janvry, Renos Vakis, Elisabeth Sadoulet & Alain De Janvry
Farmers incur proportional and fixed transactions costs in selling their crops on markets. Using data for Peruvian potato farmers, we propose a method to measure these transactions costs. When opportunities exist to sell a crop on alternative markets, the observed choice of market can be used to infer a monetary measure of transactions costs in market participation. The market choice model is first estimated at the reduced form level with a conditional logit, as a...

Learning-by-Doing and the Choice of Technology: The Role of Patience

Larry S. Karp, In Ho Lee, Larry S. Karp & In Ho Lee
If agents learn-by-doing and are myopic, less advanced firms might adopt new technologies while more advanced firms stick with the old technology. This kind of overtaking can also occur if agents are forward looking and have high discount rates. However, overtaking never occurs if agents are sufficiently patient. A finite discount rate increases the set of states at which agents adopt new technologies, so more patient agents tend to upgrade their technology more frequently.

Forecasting China's Carbon Dioxide Emissions: A Provincial Approach

Maximilian Auffhammer, Richard T. Carson, Teresa Garin-Munoz, Maximilian Auffhammer, Richard T. Carson & Teresa Garin-Munoz
Forecasts of Chinese carbon dioxide (CO2) emissions are critical to any global agreement on mitigating possible global climate change. We provide such forecasts through 2050 using a reduced form model selected using a general to simple search strategy. These estimates are the first based upon provincial-level data (1985-2000). The model chosen by the information criterion is one that melds the standard approach taken in the science and engineering literature with the environmental Kuznets curve approach...

Global Warming, Endogenous Risk and Irreversibility

Anthony C. Fisher, Urvashi Narain, Anthony C. Fisher & Urvashi Narain
This paper develops two-period analytical and numerical models to study the question: given a stock of greenhouse gases that poses a risk of future damages of unknown magnitude, and the possibility of learning about damages, how do sunk abatement capital and a nondegradable stock of greenhouse gases affect optimal first-period investment? We show that both affect investment, the former negatively and the latter positively. Additionally, endogenous risk--the risk of damages dependent on the stock of...

U.S. Demand for Food and Nutrition in the 20th Century

Timothy K.M. Beatty, Jeffrey T. LaFrance, Timothy K.M. Beatty & Jeffrey T. LaFrance
A great deal of research on farm and food policy and consumer choice focuses on the link between food consumption and nutrition. This paper presents and applies a new method to analyze the demand for food and nutrients, and consumer welfare. The foundation for this method is the recent extension of the Gorman class of exactly aggregable demand models to incomplete demand systems. The purposes of this approach are to derive and implement coherent, flexible...

Dynamic Bargaining in Households (with application to Bangladesh)

Ethan Ligon & Ethan Ligon
Much recent empirical work on intra-household allocation uses the axiomatic Nash Bargaining model to make predictions about how the distribution of consumption within the household will respond to individuals' income shocks. However, one of the basic axioms underlying this approach is that allocations will be Pareto optimal, so forward-looking, risk adverse household members ought to be expected to smooth away any such response to income shocks-Pareto optimality seems to be too strong in a dynamic...

A Semi-Parametric Basis for Combining Estimation Problems Under Quadratic Loss

George G. Judge, Ronald C. Mittelhammer, George G. Judge & Ronald C. Mittelhammer
When there is uncertainty concerning the appropriate statistical model to use in representing the data sampling process and corresponding estimators, we consider a basis for optimally combining estimation problems. In the context of the multivariate linear statistical model, we consider a semi-parametric Stein-like (SPSL) estimator, ...that shrinks to a random data-dependent vector and, under quadratic loss, has superior performance relative to the conventional least squares estimator. The relationship of the SPSL estimator to the family...

HIGHER PRICES FROM ENTRY: PRICING OF BRAND-NAME DRUGS

Jeffrey M. Perloff, Valerie Y. Suslow, Paul J. Seguin, Jeffrey M. Perloff, Valerie Y. Suslow & Paul J. Seguin
When a new firm enters a market and starts selling a spatially-differentiated product, the prices of existing products may rise due to a better match between consumers and products. Entry may have three unusual effects. First, the new price is above the monopoly price if the two firms collude and may be above the monopoly price even if the firms play Bertrand. Second, the Bertrand and collusive price may be identical. Third, prices, combined profits,...

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