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| Registros recuperados: 31 | |
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| Karp, Larry S.; Zhao, Jinhua. |
| A reform to the Kyoto Protocol that allows signatories to pay a fine instead of meeting the target level of abatement would achieve three goals. First, it would defuse one U.S. objection to the agreement: the concern that the cost of achieving the target might turn out to be extremely high. Second, unlike other cost-reducing measures (such as trade in pollution permits) it would increase the equilibrium number of signatories in a non-cooperative participation game. Third, it would make it easier to force signatories to comply with their obligations. We study the participation game under an escape clause using both a Nash Equilibrium and the concept of a stable set when nations are “farsighted”. We compare our results to a prominent model of International... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Environmental Economics and Policy. |
| Ano: 2007 |
URL: http://purl.umn.edu/6857 |
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| Weninger, Quinn; Zhao, Jinhua. |
| This paper develops a dynamic model of crop production under uncertainty with intraseasonal input choices. Crop production involves multiple stages, including at least seeding, post emergence fertilizer/pesticide application and harvesting. If the farmer receives new information about the output and/or price during the stages, he may wish to adjust the input use at each stage in response to the future possible information. Whether future information leads to higher or lower input use at earlier stages depends on the production function, in particular whether inputs at different stages are substitutes or complements in the production function. |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Farm Management. |
| Ano: 2002 |
URL: http://purl.umn.edu/19639 |
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| Zhao, Jinhua; Kurkalova, Lyubov A.; Kling, Catherine L.. |
| This study investigates the environmental impacts of several forms of policies that offer farmers subsides in return for the adoption of conservation tillage. The policies differ as to whether the tillage practice or one of several environmental benefits is targeted. We develop an Environmental Lorenz Curve which fully represents the performance of the targeting policies, and show that this curve can be directly used to help select the optimal targeting strategy for special classes of social welfare functions. The model is applied to the state of Iowa. |
| Tipo: Journal Article |
Palavras-chave: Environmental Economics and Policy. |
| Ano: 2004 |
URL: http://purl.umn.edu/31378 |
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| Feng, Hongli; Zhao, Jinhua. |
| We examine the social efficiency of alternative intertemporal permit trading regimes. Banking with a 1-to-1 ratio and with a non-unitary intertemporal trading ratio (ITR) are compared with each other and with the no-banking permit trading regime. The more industry-wide shocks vary, and/or the more they are negatively correlated across time, the more efficient is a bankable permit regime. When the slope of the benefit function is greater than the slope of the damage function, banking with ITR=1+r is more efficient than a no-banking regime. Banking with ITR=1 can be more efficient than a no-banking regime. However, whether ITR=1 or ITR=1+r is better depends on the covariance structure of the shocks and the benefit and damage functions. |
| Tipo: Working or Discussion Paper |
Palavras-chave: Bankable permits; Permit banking; Borrowing; Environmental Economics and Policy. |
| Ano: 2002 |
URL: http://purl.umn.edu/18543 |
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| Feng, Hongli; Zhao, Jinhua; Kling, Catherine L.. |
| We investigate the value of carbon sequestration in a dynamic model, demonstrating that it is only a fraction of the value of emission abatement unless the sequestration, the natural decay rate of carbon and the discount rate. We also show that to optimally reduce the carbon stock, sinks should be utilized as early as possible. Further, we propose and assess three mechanisms to efficiently introduce sequestration into a carbon permit trading market, a pay-as-you-go system. We show that, although the three mechanisms may not be equally feasible to implement, they are all efficient. |
| Tipo: Working or Discussion Paper |
Palavras-chave: Environmental Economics and Policy. |
| Ano: 2000 |
URL: http://purl.umn.edu/18380 |
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| Karp, Larry S.; Sacheti, Sandeep; Zhao, Jinhua. |
| We use a North-South model with property right differences and resource dynamics to study the effects of trade on resource use and welfare. Autarky is likely to Pareto-dominate free trade in the long run when the environment is quite fragile, and the result is reversed when the environment is quite resilient. Trade may cause an environmentally poor country to drag down" its richer trading partner; in this case, both countries degrade their stocks when these would be preserved under autarky. Alternatively, trade may enable the environmentally richer country to pull up" its partner; in this case both countries preserve their stocks when these would be degraded under autarky. These results rationalize the positions of environmentalists and free-traders. The... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Environmental Economics and Policy; D5; F1; O2; Q2. |
| Ano: 1999 |
URL: http://purl.umn.edu/25042 |
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| Babcock, Bruce A.; Beghin, John C.; Duffy, Michael D.; Feng, Hongli; Hueth, Brent; Kling, Catherine L.; Kurkalova, Lyubov A.; Schneider, Uwe A.; Secchi, Silvia; Weninger, Quinn; Zhao, Jinhua. |
| As Congress develops new farm legislation, some are lobbying for a new partnership between U.S. taxpayers and farmers. In exchange for an annual transfer of $10 to $20 billion from taxpayers to agriculture, farmers would do much more to enhance environmental quality. An attractive feature of a new partnership is that paying for an improved environment provides a clear and justifiable rationale for farm program payments, something that is lacking under current farm programs. By changing management practices and land use, farmers can provide cleaner water, cleaner air, better wildlife habitat, lower net greenhouse gas emissions, and improved long-run soil quality. Private profit maximizers largely ignore the value of these environmental goods. Hence, the... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Land Economics/Use; Resource /Energy Economics and Policy. |
| Ano: 2001 |
URL: http://purl.umn.edu/36920 |
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| Zhao, Jinhua; Kling, Catherine L.. |
| The paper presents two simple models of dynamic consumer behavior, both taking into consideration the implications for welfare measurement when agents can delay transactions while obtaining additional information. One model studies the effect when a purchased good is non-perishable and can be consumed in the future, while the other model introduces a perishable good, implying that the quantity of consumption can vary in each period. Even in the case of the perishable item, the availability of information at the time of the consumption decision has important implications for welfare measurement. Agents who must make a decision at the present but know that additional information will be available later may change their income allocation to take advantage of... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Environmental Economics and Policy. |
| Ano: 2002 |
URL: http://purl.umn.edu/18621 |
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| Ran, Tao; Zhao, Jinhua. |
| The paper studies the impacts of livestock facilities on property values, and extends the hedonic housing price models by explicitly modeling the way odor is dispersed in the atmosphere. Using a Gaussian dispersion model of odor, our estimation allows us to separately estimate the environmental effects and other effects, and to evaluate the marginal contributions of livestock facilities depending on their location. |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Land Economics/Use. |
| Ano: 2005 |
URL: http://purl.umn.edu/19116 |
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| Zhao, Jinhua. |
| A major concern with TEPs is that stochastic permit prices may discourage abatement investment relative to other policies such as a fixed emissions charge. However, the price uncertainty is fundamentally caused by abatement cost uncertainties, which affect investment under both policies. We develop a rational expectations general equilibrium model of permit trading to show how uncertainty reduces investment. Differences between the two policies can be decomposed into a general equilibrium effect and a price-vs-quantity effect. Except for the curvature of the payoff functions, uncertainties reduce both effects: tradable permits in fact helps maintain firms' investment incentives under uncertainty. |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Environmental Economics and Policy; Q20. |
| Ano: 2000 |
URL: http://purl.umn.edu/21816 |
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| Zhao, Jinhua. |
| A major concern with TEPs is that stochastic permit prices may reduce firm incentive to invest in abatement capital or technologies relative to other policies such as a fixed emissions charge. However, under effcient permit trading, the price uncertainty is caused by abatement cost uncertainties which affect investment under both permit and charge policies. We develop a rational expectations general equilibrium model of permit trading to show how cost uncertainty affects investment. Differences between the two policies can be decomposed into a general equilibrium effect and a price-vs-quantity effect. Except for the curvature of the payoff functions, uncertainties reduce both effects so that tradable permits in fact help maintain firms' investment... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Environmental Economics and Policy; Q20. |
| Ano: 2000 |
URL: http://purl.umn.edu/18342 |
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| Kling, Catherine L.; Kurkalova, Lyubov A.; Zhao, Jinhua. |
| In this study, we estimate empirically the multiple benefits of a subsidy policy that would offer payments to farmers in return for the adoption of conservation tillage and compare the outcomes of alternative targeting designs for such a policy. Using data for roughly 12,000 National Resource Inventory (NRI) points, we simulate for the state of Iowa the least-cost policy schemes for offering payment incentives. We use an economic model of conservation tillage adoption to evaluate the costs of adoption, and we use a model that simulates physical processes (Environmental Policy Integrated Climate, or EPIC) to estimate the environmental benefits of adoption at each of the NRI points. We assess the costs and environmental consequences of two targeting... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Conservation tillage; Multiple benefits; Subsidy policy; Targeting; Environmental Economics and Policy. |
| Ano: 2003 |
URL: http://purl.umn.edu/18470 |
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| Turvey, Calum G.; Zhao, Jinhua. |
| Normal, gamma and beta distributions are applied to 609 crop yield histories of Ontario farmers to determine which, if any, best describe crop yields. In addition, a distribution free non-parametric kernel estimator was applied to the same data to determine its efficiency in premium estimation relative to the three parametric forms. Results showed that crop yields are most likely to be described by a beta distribution but only for 50% of those tested. In terms of efficiency in premium estimation, minimum error criteria supports use of a kernel estimator for premium setting. However, this gain in efficiency comes at the expense of added complexity. |
| Tipo: Working or Discussion Paper |
Palavras-chave: Crop insurance; Crop yield distributions; Kernel; Crop Production/Industries; Risk and Uncertainty. |
| Ano: 1999 |
URL: http://purl.umn.edu/34129 |
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| Zhao, Jinhua; Kling, Catherine L.. |
| We study the optimal emission standards under uncertain pollution damages and transaction costs associated with policy changes. We show that in many situations, the authority should avoid or reduce the scale of a policy change in the presence of future transaction costs. Then policy persistence is a rational response of forward-looking policy makers to future transaction costs, rather than a passive outcome of the current political process. |
| Tipo: Working or Discussion Paper |
Palavras-chave: Environmental Economics and Policy. |
| Ano: 2000 |
URL: http://purl.umn.edu/18629 |
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| Registros recuperados: 31 | |
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