Agricultural Land Elasticities in the United States and Brazil
估计了美国和巴西的耕地供给弹性，发现两国弹性都很低且巴西近年大幅下降，表明生物燃料扩张导致的土地碳排放可能被高估。
Abstract The elasticity of aggregate supply of cropland is one key to understanding the degree to which policy‐induced increases in demand for biofuel feedstocks or agricultural CO 2 offsets will result in higher prices or expanded crop production. We report land supply elasticities for the United States and Brazil estimated directly from recent changes in planted crop acreage and estimated changes in expected returns. The resulting aggregate implied land‐use elasticities with respect to price are quite inelastic in the United States and Brazil elasticities have declined sharply in recent years. The estimated elasticities imply that current estimates of land‐based CO 2 emissions from biofuels expansion may be overstated