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Journal Cover Land Economics
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   Full-text available via subscription Subscription journal
     ISSN (Print) 0023-7639 - ISSN (Online) 1543-8325
     Published by University of Wisconsin Press Homepage  [11 journals]   [SJR: 1.032]   [H-I: 49]
  • Scrap Prices, Waste, and Recycling Policy
    • Abstract: <p>By Daniel T. Kaffine</p> The world has long engaged in private recycling activities, driven by the trade-off between the value of scrap materials and the costs associated with recycling. Only recently, in the past several decades, has recycling become a matter of public policy, due to concerns of declining landfill availability and upstream and downstream externalities in production and disposal processes. Efforts to increase recycling rates above private levels reflect a desire to internalize these costs. Importantly, however, these policy interventions may in turn affect equilibrium scrap prices, which could have important consequences for the cost of policy interventions in both waste and recycling markets. Thus, as international scrap ... <a href="">Read More</a>
      Keywords: Recycling (Waste, etc.)
      PubDate: 2014-01-06T00:00:00-05:00
  • The Macroeconomic Impacts of Natural Disasters: The Case of Floods
    • Abstract: <p>By Juncal Cunado, Susana Ferreira</p> In addition to the immediate costs of natural disasters in terms of mortality, number of displaced people, and infrastructure damage, and partly due to these immediate costs, natural disasters may have a lasting effect on economic output and growth. However, recent attempts to evaluate the short- and long-run impact of natural disasters on GDP offer an inconclusive picture regarding the sign of the impacts of disasters on GDP growth and whether these impacts are transitory or permanent. For example, Skidmore and Toya (2002) estimate a number of growth regressions for a cross section of developing and developed countries and find that climatic events have a positive relationship with long-run growth (which they ... <a href="">Read More</a>
      Keywords: Floods
      PubDate: 2014-01-06T00:00:00-05:00
  • Electricity Prices, River Temperatures, and Cooling Water Scarcity
    • Abstract: <p>By Grant R. McDermott, Øivind A. Nilsen</p> Thermal-based power facilities, such as nuclear and coal-fired plants, are critically dependent on water for cooling purposes. This enables them to maintain high production efficiencies but also means that they use tremendous volumes of water every day. To give an indication of scale, the thermal industry accounts for roughly 40% of all freshwater withdrawals in the United States—a figure that places it alongside the agricultural sector (USDOE 2006). Unlike agriculture, the majority of these withdrawals are actually returned to their natural source. Discharging used cooling water back into the environment nevertheless presents problems of its own. The excess thermal energy absorbed by cooling water during the heat ... <a href="">Read More</a>
      Keywords: Water-supply
      PubDate: 2014-01-06T00:00:00-05:00
  • Decentralization and Environmental Quality: An International Analysis of
           Water Pollution Levels and Variation
    • Abstract: <p>By Hilary Sigman</p> Many countries are actively considering the appropriate level of government to conduct environmental policy. In the United States, recent Supreme Court decisions limit the federal government’s authority to undertake environmental regulation. In the European Union, the trend has been the reverse, with increased reliance on common or harmonized environmental policies. An extensive literature discusses the desirability of decentralization in provision of public goods and environmental quality.Several arguments from this literature would suggest an effect of decentralization on the level of pollution and on the amount of variation in pollution across jurisdictions within a country. The traditional model of Oates ... <a href="">Read More</a>
      Keywords: Water
      PubDate: 2014-01-06T00:00:00-05:00
  • Housing Bubbles and Busts: The Role of Supply Elasticity
    • Abstract: <p>By Keith Ihlanfeldt, Tom Mayock</p> In recent years there has been considerable interest in the role that housing supply has played in explaining differences in housing prices and their changes across U.S. housing markets. Unfortunately, research on this issue has been limited by the nonavailability of estimates of local areas’ supply price elasticities. In the absence of supply price elasticities, studies have resorted to using two proxy variables; these proxies have been used by Glaeser, Gyourko, and Saiz (2008), Huang and Tang (2012), and Davidoff (forthcoming). Cox (2011) provides a detailed critique of these proxies and finds that both have important limitations that may result in biased estimates. 1 This may help explain why studies that have ... <a href="">Read More</a>
      Keywords: Housing
      PubDate: 2014-01-06T00:00:00-05:00
  • Measuring Price Elasticities for Residential Water Demand With Limited
    • Abstract: <p>By H. Allen Klaiber, V. Kerry Smith, Michael Kaminsky, Aaron Strong</p> There is a growing recognition in both the professional and popular literatures that water scarcity is a key policy issue that is essential to address in evaluating the effects of climate change and long-term sustainability of economic growth. 1 Glennon’s (2009) observations in his book, Unquenchable: America’s Water Crisis and What to Do about It, describe the problem well:Water presents a surprising riddle. We can neither make nor destroy it, so our supply is fixed yet it’s exhaustible because, as a shared resource used repeatedly, some uses preclude future reuse. Water policy suffers from a profound discontinuity between science and law.… The result epitomizes the tragedy of the commons: limitless access to a ... <a href="">Read More</a>
      Keywords: Residential water consumption
      PubDate: 2014-01-06T00:00:00-05:00
  • Amenity Values versus Land Constraints: The Spatial Effects of Natural
           Landscape Features on Housing Values
    • Abstract: <p>By Elena G. Irwin, P. Wilner Jeanty, Mark D. Partridge</p> The hedonic housing price model is the workhorse of natural amenity valuation studies. Given spatial equilibrium in land and housing markets, the hedonic model reveals the marginal implicit prices of heterogeneous attributes associated with houses and land parcels, including local natural amenities. If amenities are continuously distributed, households are fully mobile, and regional housing supply is fixed, then it is possible to ignore supply-side considerations and equate the marginal implicit price of an amenity with the household’s marginal willingness to pay for the amenity (Palmquist 2004). However, if locations are not readily substitutable for each other, for example, due to discrete differences in ... <a href="">Read More</a>
      Keywords: Natural landscaping
      PubDate: 2014-01-06T00:00:00-05:00
  • Forest Valuation under the New Zealand Emissions Trading Scheme: A Real
           Options Binomial Tree with Stochastic Carbon and Timber Prices
    • Abstract: <p>By James Tee, Riccardo Scarpa, Dan Marsh, Graeme Guthrie</p> In order to meet New Zealand’s Kyoto Protocol commitments, its government passed cap-and-trade legislation, called the New Zealand Emissions Trading Scheme (NZETS), to create a carbon price and put in place incentives for businesses and consumers to engage in more desirable and sustainable behavior. It is designed to reflect international climate change rules (New Zealand Government 2010). It allows for a transition period between July 1, 2010, and December 31, 2012, during which emitters from the nonforestry sector (such as the energy sector) have the option to buy emission units (carbon credits) either at market prices from the carbon market or at a fixed price of NZ$ 25 per unit (in July 2012 NZ$ 1 was about ... <a href="">Read More</a>
      Keywords: Timber
      PubDate: 2014-01-06T00:00:00-05:00
  • The Adoption and Impact of Soil and Water Conservation Technology: An
           Endogenous Switching Regression Application
    • Abstract: <p>By Awudu Abdulai, Wallace Huffman</p> Farmers in the Sahel zone of Sub-Saharan Africa normally face unpredictable weather that often results in production uncertainty and unforeseen hardships for farm households. The low and erratic rainfall in many parts of the region often leads to water shortages for optimal crop growth. Lower yields or complete harvest failure resulting from droughts remains a serious problem for farm households in the region, since it often leads to severe food shortages and welfare losses. Water scarcity in the region has therefore remained a major concern for both policy makers and international organizations, with several attempts to address the problem through the development of irrigation systems and improved cultivation ... <a href="">Read More</a>
      Keywords: Soil conservation
      PubDate: 2014-01-06T00:00:00-05:00
  • The Effect of Conservation Priority Areas on Bidding Behavior in the
           Conservation Reserve Program
    • Abstract: <p>By Keri L. Jacobs, Walter N. Thurman, Michele C. Marra</p> The Conservation Reserve Program (CRP) constitutes the largest-scale experiment to date in government payments for ecosystem services. Begun in 1985, the CRP currently idles approximately 30 million acres—a land mass about the size of Mississippi—at an annual cost near $1.7 billion. CRP participants are owners or operators of agricultural land that contract with the U.S. Department of Agriculture (USDA) to idle their cropland from production and agree to install conservation-type covers for a period of 10 to 15 years. Participants receive an annual payment, and for funding these payments, U.S. taxpayers receive ecosystem services that include enhancements to wildlife habitat, carbon sequestration, and benefits ... <a href="">Read More</a>
      Keywords: Agriculture
      PubDate: 2014-01-06T00:00:00-05:00
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