The social costs of second-best policies: Evidence from agricultural GHG mitigation |
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| Institution: | 1. Michigan State University, 446 West Circle Dr., East Lansing, MI 48824-1039, USA;2. University of California, Davis 1 Shields Ave, Davis, CA 95616, USA;3. ETH Zurich, Tannenstrasse 1, 8092 Zurich, Switzerland;1. Department of Economics, Michigan State University, United States;2. Lamont-Doherty Earth Observatory, Columbia University, United States;3. World Bank, United States;4. Department of Energy and Environment, TERI University, India;1. University of Warwick, UK;2. Newcastle University, UK;1. Resources for the Future, Gothenburg University, FEEM, CESifo Research Network;2. Statistics Norway, CREE and CESifo Research Network;3. Norwegian University of Life Sciences, CREE and CESifo Research Network;1. Toulouse School of Economics (LERNA, UT1C, CNRS), 21 Allée de Brienne, 31015 Toulouse Cedex 6, France;2. University of Sheffield, United Kingdom;3. Karlstad University, Sweden;4. Health Metrics, The Sahlgrenska Academy, University of Gothenburg, Sweden;1. DaCHE, Department of Public Health, University of Southern Denmark, J.B. Winsløwsvej 9B, 1., DK-5000, Odense C, Denmark;2. Newcastle University Business School, UK;3. Department of Economics, University of Sheffield, UK |
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| Abstract: | This paper investigates the social costs of second-best agricultural greenhouse gas (GHG) mitigation policies. Adjustments along the land use and input intensity margins are represented within a regionalized optimization model of California crop production calibrated to economic and agronomic information. Second-best policies relying on spatially aggregated GHG emission factors lead to small abatement efficiency losses, while policies targeting a single GHG lead to moderate losses. In contrast, policies targeting a single input entail large abatement efficiency losses, which nonetheless can be reduced by combining instruments. |
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| Keywords: | Greenhouse gases Climate policy Second best Abatement efficiency |
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