Wildfires during the 2019–2020 Australian fire season killed 33 people and more than 1 billion animals, destroying almost 40 million acres of bushland and more than 3,500 homes. The objective of this analysis is to identify regional forestry management weaknesses that may have exacerbated these losses, focusing on economic components of existing Regional Forestry Agreements (RFAs). I accomplish this objective by reviewing the RFA development process, mapping RFA content to international climate change frameworks, and comparing RFA contents with pertinent economic literature findings. I find that RFAs’ development and implementation relied on market valuation of forest products while excluding nonmarket environmental values. The connections from RFAs to international climate and domestic wildfire policy were weak. Furthermore, RFAs disregarded moral hazard around plantation forest management and wildfire mitigation risk. Future RFA development needs to include nonmarket valuation of a suite of environmental resources, recognition of dynamic wildfire risks in the midst of climate change, precise descriptions of private and federal plantation forest wildfire prevention responsibilities, and explicit connections between RFAs and state and federal policy to mitigate wildfire risk.
{"title":"The Role of Natural Resource Valuation in Australian Regional Forestry Management","authors":"M. Ehmke","doi":"10.1086/722755","DOIUrl":"https://doi.org/10.1086/722755","url":null,"abstract":"Wildfires during the 2019–2020 Australian fire season killed 33 people and more than 1 billion animals, destroying almost 40 million acres of bushland and more than 3,500 homes. The objective of this analysis is to identify regional forestry management weaknesses that may have exacerbated these losses, focusing on economic components of existing Regional Forestry Agreements (RFAs). I accomplish this objective by reviewing the RFA development process, mapping RFA content to international climate change frameworks, and comparing RFA contents with pertinent economic literature findings. I find that RFAs’ development and implementation relied on market valuation of forest products while excluding nonmarket environmental values. The connections from RFAs to international climate and domestic wildfire policy were weak. Furthermore, RFAs disregarded moral hazard around plantation forest management and wildfire mitigation risk. Future RFA development needs to include nonmarket valuation of a suite of environmental resources, recognition of dynamic wildfire risks in the midst of climate change, precise descriptions of private and federal plantation forest wildfire prevention responsibilities, and explicit connections between RFAs and state and federal policy to mitigate wildfire risk.","PeriodicalId":47676,"journal":{"name":"Review of Environmental Economics and Policy","volume":null,"pages":null},"PeriodicalIF":5.4,"publicationDate":"2022-12-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44486214","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
F. Asche, H. Eggert, Atle Oglend, C. Roheim, Martin D. Smith
Global seafood supply is increasing and seafood prices are stable, despite the plateauing of global wild-caught fishery harvests and reports of collapsing fish stocks. This trend is largely due to rapid growth in aquaculture (farmed seafood), which now accounts for roughly half of the global seafood supply. Although aquaculture is a key contributor to food security, fish farming interacts closely with the surrounding ecosystem, and its rapid global growth raises many environmental concerns. Potential negative externalities include decreases in water quality, disease spillovers, genetic interactions between wild and domesticated fish, overuse of antibiotics, and pressures on fish stocks from reliance on wild-caught fish for feed. We show that the environmental externalities of aquaculture can be positive or negative, that some externalities are not true externalities because firms have incentives to internalize them, that some perceived externalities do not exist, and that the remaining externalities can be addressed primarily through spatial management. Because outcomes are strongly influenced by the management of spatial issues such as the siting of production facilities, management challenges include both commons and anticommons problems. We conclude that management should focus on spatial approaches, adaptation to climate change, and facilitating technological innovation to address externalities and encourage sustainable development of the aquaculture sector.
{"title":"Aquaculture: Externalities and Policy Options","authors":"F. Asche, H. Eggert, Atle Oglend, C. Roheim, Martin D. Smith","doi":"10.1086/721055","DOIUrl":"https://doi.org/10.1086/721055","url":null,"abstract":"Global seafood supply is increasing and seafood prices are stable, despite the plateauing of global wild-caught fishery harvests and reports of collapsing fish stocks. This trend is largely due to rapid growth in aquaculture (farmed seafood), which now accounts for roughly half of the global seafood supply. Although aquaculture is a key contributor to food security, fish farming interacts closely with the surrounding ecosystem, and its rapid global growth raises many environmental concerns. Potential negative externalities include decreases in water quality, disease spillovers, genetic interactions between wild and domesticated fish, overuse of antibiotics, and pressures on fish stocks from reliance on wild-caught fish for feed. We show that the environmental externalities of aquaculture can be positive or negative, that some externalities are not true externalities because firms have incentives to internalize them, that some perceived externalities do not exist, and that the remaining externalities can be addressed primarily through spatial management. Because outcomes are strongly influenced by the management of spatial issues such as the siting of production facilities, management challenges include both commons and anticommons problems. We conclude that management should focus on spatial approaches, adaptation to climate change, and facilitating technological innovation to address externalities and encourage sustainable development of the aquaculture sector.","PeriodicalId":47676,"journal":{"name":"Review of Environmental Economics and Policy","volume":null,"pages":null},"PeriodicalIF":5.4,"publicationDate":"2022-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46242513","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This article is a comment on Shapiro’s “Pollution Trends and US Environmental Policy: Lessons from the Past Half Century.” It first provides some historical perspective by comparing Shapiro’s analysis and conclusions to an article published 20 years ago by A. Myrick Freeman III. It then discusses (and slightly reframes) Shapiro’s four hypotheses and highlights the importance of understanding the counterfactuals implied by each hypothesis. Finally, it suggests at least one key lesson that emerges from Shapiro’s analysis and its implications for future work—namely, the need not only to improve methods and data for analyzing existing regulations but also to increase efforts to reduce currently unregulated sources of pollution, such as agricultural pollution and greenhouse gas emissions.
{"title":"Evaluating US Regulations: A Comment on Joseph S. Shapiro’s “Pollution Trends and US Environmental Policy: Lessons from the Past Half Century”","authors":"K. Segerson","doi":"10.1086/721099","DOIUrl":"https://doi.org/10.1086/721099","url":null,"abstract":"This article is a comment on Shapiro’s “Pollution Trends and US Environmental Policy: Lessons from the Past Half Century.” It first provides some historical perspective by comparing Shapiro’s analysis and conclusions to an article published 20 years ago by A. Myrick Freeman III. It then discusses (and slightly reframes) Shapiro’s four hypotheses and highlights the importance of understanding the counterfactuals implied by each hypothesis. Finally, it suggests at least one key lesson that emerges from Shapiro’s analysis and its implications for future work—namely, the need not only to improve methods and data for analyzing existing regulations but also to increase efforts to reduce currently unregulated sources of pollution, such as agricultural pollution and greenhouse gas emissions.","PeriodicalId":47676,"journal":{"name":"Review of Environmental Economics and Policy","volume":null,"pages":null},"PeriodicalIF":5.4,"publicationDate":"2022-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46943032","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
There is growing interest in using text as data in social science research, particularly in economics. The availability of large amounts of digitized text material such as social media posts, newspapers, firms’ annual reports, and patents, combined with new computer techniques, makes it increasingly possible for researchers to use this type of information. The aim of this article is to discuss the potential of these techniques for the field of environmental economics and policy.
{"title":"Text as Data in Environmental Economics and Policy","authors":"Eugenie Dugoua, M. Dumas, J. Noailly","doi":"10.1086/721079","DOIUrl":"https://doi.org/10.1086/721079","url":null,"abstract":"There is growing interest in using text as data in social science research, particularly in economics. The availability of large amounts of digitized text material such as social media posts, newspapers, firms’ annual reports, and patents, combined with new computer techniques, makes it increasingly possible for researchers to use this type of information. The aim of this article is to discuss the potential of these techniques for the field of environmental economics and policy.","PeriodicalId":47676,"journal":{"name":"Review of Environmental Economics and Policy","volume":null,"pages":null},"PeriodicalIF":5.4,"publicationDate":"2022-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42965365","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Grischa Perino, Maximilian Willner, Simon Quemin, M. Pahle
The Market Stability Reserve (MSR) was introduced into the European Union Emissions Trading System to address a historical surplus of emission allowances and to improve the system’s resilience to major shocks through automatic adjustments to the supply of allowances. We summarize the main strengths and weaknesses of the MSR and identify when it stabilizes the market as intended, as well as when it is destabilizing. We argue that recently proposed design changes strengthen both its stabilizing and destabilizing effects. We conclude that a price-based supply adjustment mechanism would help to address the main shortcomings rooted in the banking-based approach of the current MSR design.
{"title":"The European Union Emissions Trading System Market Stability Reserve: Does It Stabilize or Destabilize the Market?","authors":"Grischa Perino, Maximilian Willner, Simon Quemin, M. Pahle","doi":"10.1086/721015","DOIUrl":"https://doi.org/10.1086/721015","url":null,"abstract":"The Market Stability Reserve (MSR) was introduced into the European Union Emissions Trading System to address a historical surplus of emission allowances and to improve the system’s resilience to major shocks through automatic adjustments to the supply of allowances. We summarize the main strengths and weaknesses of the MSR and identify when it stabilizes the market as intended, as well as when it is destabilizing. We argue that recently proposed design changes strengthen both its stabilizing and destabilizing effects. We conclude that a price-based supply adjustment mechanism would help to address the main shortcomings rooted in the banking-based approach of the current MSR design.","PeriodicalId":47676,"journal":{"name":"Review of Environmental Economics and Policy","volume":null,"pages":null},"PeriodicalIF":5.4,"publicationDate":"2022-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42610481","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Progress on air pollution and water pollution in the United States has improved our quality of life and our health. In recent decades, there has been a “greening” of our economy as pollution from power plants, transportation, and industry has sharply declined. Our exposure to pollution depends on where production takes place relative to where we choose to live. This comment explores how economic geography influences our exposure to pollution and determines who gains and who loses from effective regulation.
{"title":"Economic Geography and Pollution: A Comment on Joseph S. Shapiro’s “Pollution Trends and US Environmental Policy: Lessons from the Past Half Century”","authors":"Matthew E. Kahn","doi":"10.1086/721098","DOIUrl":"https://doi.org/10.1086/721098","url":null,"abstract":"Progress on air pollution and water pollution in the United States has improved our quality of life and our health. In recent decades, there has been a “greening” of our economy as pollution from power plants, transportation, and industry has sharply declined. Our exposure to pollution depends on where production takes place relative to where we choose to live. This comment explores how economic geography influences our exposure to pollution and determines who gains and who loses from effective regulation.","PeriodicalId":47676,"journal":{"name":"Review of Environmental Economics and Policy","volume":null,"pages":null},"PeriodicalIF":5.4,"publicationDate":"2022-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45402496","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
J. Abbott, Daniel K. Lew, J. Whitehead, R. Woodward
The management of recreational fisheries has received relatively little research attention from economists. Nevertheless, recreational fisheries generate substantial economic benefits and ecological impacts in many freshwater and marine systems, although they frequently face a range of management challenges. In this article we consider the endogenous feedbacks and exogenous stressors within the coupled human-natural system of recreational fisheries that threaten their efficient and sustainable management, and we review the potential role of economics in addressing these challenges. We discuss key similarities and differences between commercial and recreational fisheries and the implications of the differences for the theory and practice of managing recreational fisheries. Finally, we identify important research gaps that must be addressed to enable policy makers to more accurately weigh the costs and benefits of changes to recreational fishery policies.
{"title":"The Future of Fishing for Fun: The Economics and Sustainable Management of Recreational Fisheries","authors":"J. Abbott, Daniel K. Lew, J. Whitehead, R. Woodward","doi":"10.1086/720987","DOIUrl":"https://doi.org/10.1086/720987","url":null,"abstract":"The management of recreational fisheries has received relatively little research attention from economists. Nevertheless, recreational fisheries generate substantial economic benefits and ecological impacts in many freshwater and marine systems, although they frequently face a range of management challenges. In this article we consider the endogenous feedbacks and exogenous stressors within the coupled human-natural system of recreational fisheries that threaten their efficient and sustainable management, and we review the potential role of economics in addressing these challenges. We discuss key similarities and differences between commercial and recreational fisheries and the implications of the differences for the theory and practice of managing recreational fisheries. Finally, we identify important research gaps that must be addressed to enable policy makers to more accurately weigh the costs and benefits of changes to recreational fishery policies.","PeriodicalId":47676,"journal":{"name":"Review of Environmental Economics and Policy","volume":null,"pages":null},"PeriodicalIF":5.4,"publicationDate":"2022-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42183745","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
During the COVID-19 pandemic, the US Environmental Protection Agency and numerous states offered regulated facilities flexibility in adhering to some monitoring and compliance requirements of environmental regulations. These temporary enforcement discretion (TED) policies provide a recent example of how environmental federalism works in practice in the United States. We examine the relationship between state sociodemographic and political characteristics and the timing and similarity of state-level TED policies. To analyze policy similarity, we use natural language processing tools. Thus, this policy brief illustrates how such techniques can be meaningfully applied to answer questions of relevance to environmental policy.
{"title":"Enforcement Discretion Policies in the United States during the COVID-19 Public Health Crisis","authors":"Mary F. Evans, L. Grant, Vasu Rai, Allison So","doi":"10.1086/721086","DOIUrl":"https://doi.org/10.1086/721086","url":null,"abstract":"During the COVID-19 pandemic, the US Environmental Protection Agency and numerous states offered regulated facilities flexibility in adhering to some monitoring and compliance requirements of environmental regulations. These temporary enforcement discretion (TED) policies provide a recent example of how environmental federalism works in practice in the United States. We examine the relationship between state sociodemographic and political characteristics and the timing and similarity of state-level TED policies. To analyze policy similarity, we use natural language processing tools. Thus, this policy brief illustrates how such techniques can be meaningfully applied to answer questions of relevance to environmental policy.","PeriodicalId":47676,"journal":{"name":"Review of Environmental Economics and Policy","volume":null,"pages":null},"PeriodicalIF":5.4,"publicationDate":"2022-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43414028","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
In recent years, the approach to wild-caught fisheries management has expanded beyond traditional single-fishery management. This article examines potential market failures within the fisheries sector that may arise because of a failure to account for key features of wild-caught fisheries and that can be addressed by an expanded scope. These market failures include multiple species caught together, multiple fisheries targeting the same stock, and other ecological and socioeconomic interconnections within ecosystems. We also examine market failures that may arise when external factors such as climate change and species invasions are not considered in fisheries management policy or if policies do not consider multisector use of seascapes, linkages between water pollution and fisheries, and market failures that cut across fisheries and nonfishery sectors and involve the underprovision of publicly available data and a lack of information sharing along the supply chain. We find that policies that address these market failures typically have distributional effects; that is, there will be winners and losers, even if aggregate efficiency increases. We conclude that research and policy design need to explicitly consider equity-efficiency trade-offs when seeking to address market failures, and we propose policy and research priorities that support the sustainability of wild-caught seafood.
{"title":"The Future of Wild-Caught Fisheries: Expanding the Scope of Management","authors":"Kailin Kroetz, Linda Nøstbakken, M. Quaas","doi":"10.1086/721097","DOIUrl":"https://doi.org/10.1086/721097","url":null,"abstract":"In recent years, the approach to wild-caught fisheries management has expanded beyond traditional single-fishery management. This article examines potential market failures within the fisheries sector that may arise because of a failure to account for key features of wild-caught fisheries and that can be addressed by an expanded scope. These market failures include multiple species caught together, multiple fisheries targeting the same stock, and other ecological and socioeconomic interconnections within ecosystems. We also examine market failures that may arise when external factors such as climate change and species invasions are not considered in fisheries management policy or if policies do not consider multisector use of seascapes, linkages between water pollution and fisheries, and market failures that cut across fisheries and nonfishery sectors and involve the underprovision of publicly available data and a lack of information sharing along the supply chain. We find that policies that address these market failures typically have distributional effects; that is, there will be winners and losers, even if aggregate efficiency increases. We conclude that research and policy design need to explicitly consider equity-efficiency trade-offs when seeking to address market failures, and we propose policy and research priorities that support the sustainability of wild-caught seafood.","PeriodicalId":47676,"journal":{"name":"Review of Environmental Economics and Policy","volume":null,"pages":null},"PeriodicalIF":5.4,"publicationDate":"2022-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45126971","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
A. Cojocaru, Yaqin Liu, Martin D. Smith, Wisdom Akpalu, Carlos Chávez, M. Dey, J. Dresdner, V. Kahui, R. Pincinato, N. Tran
The global seafood system includes three interconnected sectors: commercial capture (or wild-caught) fisheries, recreational and subsistence fisheries, and aquaculture (or farmed seafood). The three sector-focused articles in this symposium review production externalities within and between sectors and between the seafood system and the broader natural environment. Building on the insights from these articles, we discuss seafood as part of an integrated food system and examine both seafood supply and demand. We assess possible tensions between environmental sustainability and food security with an emphasis on the Global South. We examine the inconsistent application of market mechanisms to allocate resources across user groups; highlight governance challenges that are especially pronounced in the Global South; discuss the role of subsistence and poverty alleviation in seafood production; identify sources of demand heterogeneity that are critical to understanding the future of seafood, including the impact of culture; and evaluate concerns about the international seafood trade through an economic lens. We discuss nutritional security in detail, focusing on how product attributes such as micro- and macronutrients that are intrinsically bundled (not purchasable separately) could exacerbate inequality and/or lead to nutritional externalities. We conclude by identifying needs for future research, technological innovation, and governance innovation.
{"title":"The “Seafood” System: Aquatic Foods, Food Security, and the Global South","authors":"A. Cojocaru, Yaqin Liu, Martin D. Smith, Wisdom Akpalu, Carlos Chávez, M. Dey, J. Dresdner, V. Kahui, R. Pincinato, N. Tran","doi":"10.1086/721032","DOIUrl":"https://doi.org/10.1086/721032","url":null,"abstract":"The global seafood system includes three interconnected sectors: commercial capture (or wild-caught) fisheries, recreational and subsistence fisheries, and aquaculture (or farmed seafood). The three sector-focused articles in this symposium review production externalities within and between sectors and between the seafood system and the broader natural environment. Building on the insights from these articles, we discuss seafood as part of an integrated food system and examine both seafood supply and demand. We assess possible tensions between environmental sustainability and food security with an emphasis on the Global South. We examine the inconsistent application of market mechanisms to allocate resources across user groups; highlight governance challenges that are especially pronounced in the Global South; discuss the role of subsistence and poverty alleviation in seafood production; identify sources of demand heterogeneity that are critical to understanding the future of seafood, including the impact of culture; and evaluate concerns about the international seafood trade through an economic lens. We discuss nutritional security in detail, focusing on how product attributes such as micro- and macronutrients that are intrinsically bundled (not purchasable separately) could exacerbate inequality and/or lead to nutritional externalities. We conclude by identifying needs for future research, technological innovation, and governance innovation.","PeriodicalId":47676,"journal":{"name":"Review of Environmental Economics and Policy","volume":null,"pages":null},"PeriodicalIF":5.4,"publicationDate":"2022-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42221933","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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