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An Econometric Analysis of the Costs of Sequestering Carbon in Forests
Author(s) -
Plantinga Andrew J.,
Mauldin Thomas,
Miller Douglas J.
Publication year - 1999
Publication title -
american journal of agricultural economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.949
H-Index - 111
eISSN - 1467-8276
pISSN - 0002-9092
DOI - 10.2307/1244326
Subject(s) - afforestation , carbon sequestration , natural resource economics , econometric model , marginal cost , computable general equilibrium , south carolina , carbon fibers , environmental science , economics , agroforestry , ecology , carbon dioxide , econometrics , mathematics , algorithm , composite number , macroeconomics , public administration , political science , biology , microeconomics
The Kyoto Protocol and the U.S. Climate Change Plan recognize afforestation as a potential means of reducing atmospheric CO 2 concentrations. To examine the cost‐effectiveness of afforestation, we use econometric land use models to estimate the marginal costs of carbon sequestration in Maine, South Carolina, and Wisconsin. Our findings include the following: ( a ) earlier studies of afforestation programs tend to underestimate carbon sequestration costs, ( b ) afforestation still appears to be a relatively low‐cost approach to reducing CO 2 concentrations, ( c ) Wisconsin offers the lowest‐cost opportunties for carbon sequestration, and ( d ) projected population changes have the largest effect on costs in South Carolina.