Pub Date : 2021-06-25DOI: 10.1146/annurev-resource-102020-094143
M. Conte, David L. Kelly
We survey the growing literature on fat-tailed distributions in environmental economics. We then examine the theoretical and statistical properties of such distributions, focusing especially on when these properties are likely to arise in environmental problems. We find that a number of variables are fat tailed in environmental economics, including the climate sensitivity, natural disaster impacts, spread of infectious diseases, and stated willingness to pay. We argue that different fat-tailed distributions arise from common pathways. Finally, we review the literature on the policy implications of fat-tailed distributions and controversies over their interpretation. We conclude that the literature has made great strides in demonstrating when fat tails matter for optimal environmental policy. Yet, much is less well understood, including how alternative policies affect fat-tailed distributions, the optimal policy in a computational economy with many fat-tailed problems, and how to account for imprecision in empirical tests for fat tails. Expected final online publication date for the Annual Review of Resource Economics, Volume 13 is October 2021. Please see http://www.annualreviews.org/page/journal/pubdates for revised estimates.
{"title":"Understanding the Improbable: A Survey of Fat Tails in Environmental Economics","authors":"M. Conte, David L. Kelly","doi":"10.1146/annurev-resource-102020-094143","DOIUrl":"https://doi.org/10.1146/annurev-resource-102020-094143","url":null,"abstract":"We survey the growing literature on fat-tailed distributions in environmental economics. We then examine the theoretical and statistical properties of such distributions, focusing especially on when these properties are likely to arise in environmental problems. We find that a number of variables are fat tailed in environmental economics, including the climate sensitivity, natural disaster impacts, spread of infectious diseases, and stated willingness to pay. We argue that different fat-tailed distributions arise from common pathways. Finally, we review the literature on the policy implications of fat-tailed distributions and controversies over their interpretation. We conclude that the literature has made great strides in demonstrating when fat tails matter for optimal environmental policy. Yet, much is less well understood, including how alternative policies affect fat-tailed distributions, the optimal policy in a computational economy with many fat-tailed problems, and how to account for imprecision in empirical tests for fat tails. Expected final online publication date for the Annual Review of Resource Economics, Volume 13 is October 2021. Please see http://www.annualreviews.org/page/journal/pubdates for revised estimates.","PeriodicalId":48856,"journal":{"name":"Annual Review of Resource Economics","volume":"12 6 1","pages":""},"PeriodicalIF":5.8,"publicationDate":"2021-06-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75183652","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-06-25DOI: 10.1146/annurev-resource-101420-090453
K. Baylis, T. Heckelei, T. Hertel
Global agriculture consumes substantial resources and produces significant pollution. By shifting its production to new locations, and inducing changes in technology and input use, trade has a substantial impact on environmental sustainability of the world's food systems, but due to suboptimal environmental policy, the exact nature of these impacts is in dispute. We review the literature on agricultural trade and environmental sustainability, highlighting the different approaches taken in ecology versus economics. While useful in identifying environmental costs, much of the ecological literature does not compare these costs to a trade-free counterfactual and can therefore be misleading. Further, by moving production to places with more resources and increasing production efficiency, trade can reduce the environmental impact of food production. On the other hand, trade can also limit the effectiveness of domestic environmental policy because production can be shifted to countries with less stringent regulations. However, recently, consumers are leveraging trade policy to induce exporters to improve environmental sustainability. While such policies are gaining traction in wealthy countries, evidence suggests that such measures will not reach their potential without buy-in from decision makers in the countries where the environmental damages are occurring. Expected final online publication date for the Annual Review of Resource Economics, Volume 13 is October 2021. Please see http://www.annualreviews.org/page/journal/pubdates for revised estimates.
{"title":"Agricultural Trade and Environmental Sustainability","authors":"K. Baylis, T. Heckelei, T. Hertel","doi":"10.1146/annurev-resource-101420-090453","DOIUrl":"https://doi.org/10.1146/annurev-resource-101420-090453","url":null,"abstract":"Global agriculture consumes substantial resources and produces significant pollution. By shifting its production to new locations, and inducing changes in technology and input use, trade has a substantial impact on environmental sustainability of the world's food systems, but due to suboptimal environmental policy, the exact nature of these impacts is in dispute. We review the literature on agricultural trade and environmental sustainability, highlighting the different approaches taken in ecology versus economics. While useful in identifying environmental costs, much of the ecological literature does not compare these costs to a trade-free counterfactual and can therefore be misleading. Further, by moving production to places with more resources and increasing production efficiency, trade can reduce the environmental impact of food production. On the other hand, trade can also limit the effectiveness of domestic environmental policy because production can be shifted to countries with less stringent regulations. However, recently, consumers are leveraging trade policy to induce exporters to improve environmental sustainability. While such policies are gaining traction in wealthy countries, evidence suggests that such measures will not reach their potential without buy-in from decision makers in the countries where the environmental damages are occurring. Expected final online publication date for the Annual Review of Resource Economics, Volume 13 is October 2021. Please see http://www.annualreviews.org/page/journal/pubdates for revised estimates.","PeriodicalId":48856,"journal":{"name":"Annual Review of Resource Economics","volume":"47 1","pages":""},"PeriodicalIF":5.8,"publicationDate":"2021-06-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78707950","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-06-25DOI: 10.1146/annurev-resource-101520-081337
S. Fan, D. Headey, Christopher Rue, T. Thomas
Food systems are currently facing unprecedented challenges. More than 690 million people still suffer hunger while climate change, rapid depletion of natural resources, and loss of biodiversity further threaten future food systems. Influential global reports emphasize the need for fundamental transformations of food systems for human and planetary health, but few incorporate economic considerations. This review adopts an economic lens to assessing potential transitions to ideal food systems that are productive, sustainable, nutritious, resilient, and inclusive. Our findings show that new technologies, policies, institutions, and behavior changes can leverage synergies for achieving multiple food system targets, but rigorous economic analysis is needed to further analyze trade-offs and to overcome complex behavioral, institutional, and political barriers. This review also points to important knowledge gaps that economists and other social scientists must address to contribute to the radical transformation of food systems. Expected final online publication date for the Annual Review of Resource Economics, Volume 13 is October 2021. Please see http://www.annualreviews.org/page/journal/pubdates for revised estimates.
{"title":"Food Systems for Human and Planetary Health: Economic Perspectives and Challenges","authors":"S. Fan, D. Headey, Christopher Rue, T. Thomas","doi":"10.1146/annurev-resource-101520-081337","DOIUrl":"https://doi.org/10.1146/annurev-resource-101520-081337","url":null,"abstract":"Food systems are currently facing unprecedented challenges. More than 690 million people still suffer hunger while climate change, rapid depletion of natural resources, and loss of biodiversity further threaten future food systems. Influential global reports emphasize the need for fundamental transformations of food systems for human and planetary health, but few incorporate economic considerations. This review adopts an economic lens to assessing potential transitions to ideal food systems that are productive, sustainable, nutritious, resilient, and inclusive. Our findings show that new technologies, policies, institutions, and behavior changes can leverage synergies for achieving multiple food system targets, but rigorous economic analysis is needed to further analyze trade-offs and to overcome complex behavioral, institutional, and political barriers. This review also points to important knowledge gaps that economists and other social scientists must address to contribute to the radical transformation of food systems. Expected final online publication date for the Annual Review of Resource Economics, Volume 13 is October 2021. Please see http://www.annualreviews.org/page/journal/pubdates for revised estimates.","PeriodicalId":48856,"journal":{"name":"Annual Review of Resource Economics","volume":"51 1","pages":""},"PeriodicalIF":5.8,"publicationDate":"2021-06-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88047277","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-06-15DOI: 10.1146/ANNUREV-RESOURCE-100518-093938
S. Cramon-Taubadel, B. Goodwin
We review recent developments in the analysis of price transmission in agricultural markets. Markets may be separated in time, form, and space (as well as in combinations of such factors). Transact...
{"title":"Price Transmission in Agricultural Markets","authors":"S. Cramon-Taubadel, B. Goodwin","doi":"10.1146/ANNUREV-RESOURCE-100518-093938","DOIUrl":"https://doi.org/10.1146/ANNUREV-RESOURCE-100518-093938","url":null,"abstract":"We review recent developments in the analysis of price transmission in agricultural markets. Markets may be separated in time, form, and space (as well as in combinations of such factors). Transact...","PeriodicalId":48856,"journal":{"name":"Annual Review of Resource Economics","volume":"1 1","pages":""},"PeriodicalIF":5.8,"publicationDate":"2021-06-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76575632","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-06-08DOI: 10.1146/ANNUREV-RESOURCE-100620-045839
A. Plantinga
Data sets providing repeated observations of land use at fine spatial scales have enabled a new generation of land-use studies. In the past decade, these analyses have put increasing emphasis on em...
{"title":"Recent Advances in Empirical Land-Use Modeling","authors":"A. Plantinga","doi":"10.1146/ANNUREV-RESOURCE-100620-045839","DOIUrl":"https://doi.org/10.1146/ANNUREV-RESOURCE-100620-045839","url":null,"abstract":"Data sets providing repeated observations of land use at fine spatial scales have enabled a new generation of land-use studies. In the past decade, these analyses have put increasing emphasis on em...","PeriodicalId":48856,"journal":{"name":"Annual Review of Resource Economics","volume":"13 1","pages":""},"PeriodicalIF":5.8,"publicationDate":"2021-06-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83901141","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-06-08DOI: 10.1146/ANNUREV-RESOURCE-102020-100625
P. Ciaian, E. Baldoni, d'Artis Kancs, D. Drabik
We review the recent theoretical and empirical literature on the capitalization of agricultural subsidies into land prices. The theoretical literature predicts that agricultural subsidies are capit...
我们回顾了最近关于农业补贴资本化到土地价格的理论和实证文献。理论文献预测农业补贴是资本…
{"title":"The Capitalization of Agricultural Subsidies into Land Prices","authors":"P. Ciaian, E. Baldoni, d'Artis Kancs, D. Drabik","doi":"10.1146/ANNUREV-RESOURCE-102020-100625","DOIUrl":"https://doi.org/10.1146/ANNUREV-RESOURCE-102020-100625","url":null,"abstract":"We review the recent theoretical and empirical literature on the capitalization of agricultural subsidies into land prices. The theoretical literature predicts that agricultural subsidies are capit...","PeriodicalId":48856,"journal":{"name":"Annual Review of Resource Economics","volume":"43 1","pages":""},"PeriodicalIF":5.8,"publicationDate":"2021-06-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84137259","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-06-03DOI: 10.1146/ANNUREV-RESOURCE-100920-034117
Matthew Harding, Carlos Lamarche
This article reviews recent endeavors to incorporate big data and machine learning techniques into energy and environmental economics research. We find that novel datasets, from high frequency smar...
{"title":"Small Steps with Big Data: Using Machine Learning in Energy and Environmental Economics","authors":"Matthew Harding, Carlos Lamarche","doi":"10.1146/ANNUREV-RESOURCE-100920-034117","DOIUrl":"https://doi.org/10.1146/ANNUREV-RESOURCE-100920-034117","url":null,"abstract":"This article reviews recent endeavors to incorporate big data and machine learning techniques into energy and environmental economics research. We find that novel datasets, from high frequency smar...","PeriodicalId":48856,"journal":{"name":"Annual Review of Resource Economics","volume":"43 1","pages":""},"PeriodicalIF":5.8,"publicationDate":"2021-06-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88485298","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-06-02DOI: 10.1146/ANNUREV-RESOURCE-102519-113630
G. Metcalf
As of 2020, carbon taxes were in effect in 30 jurisdictions around the world. This article provides a theoretical overview of carbon taxes along with some empirical evidence on the macroeconomic im...
{"title":"Carbon Taxes in Theory and Practice","authors":"G. Metcalf","doi":"10.1146/ANNUREV-RESOURCE-102519-113630","DOIUrl":"https://doi.org/10.1146/ANNUREV-RESOURCE-102519-113630","url":null,"abstract":"As of 2020, carbon taxes were in effect in 30 jurisdictions around the world. This article provides a theoretical overview of carbon taxes along with some empirical evidence on the macroeconomic im...","PeriodicalId":48856,"journal":{"name":"Annual Review of Resource Economics","volume":"85 1","pages":""},"PeriodicalIF":5.8,"publicationDate":"2021-06-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88113281","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-06-02DOI: 10.1146/ANNUREV-RESOURCE-100920-020522
Y. Tsur, A. Zemel
We survey the rapidly growing economic literature on environmental catastrophes and the various approaches developed to address the hovering threats. Various theoretical descriptions of catastrophi...
{"title":"Resource Management Under Catastrophic Threats","authors":"Y. Tsur, A. Zemel","doi":"10.1146/ANNUREV-RESOURCE-100920-020522","DOIUrl":"https://doi.org/10.1146/ANNUREV-RESOURCE-100920-020522","url":null,"abstract":"We survey the rapidly growing economic literature on environmental catastrophes and the various approaches developed to address the hovering threats. Various theoretical descriptions of catastrophi...","PeriodicalId":48856,"journal":{"name":"Annual Review of Resource Economics","volume":"16 1","pages":""},"PeriodicalIF":5.8,"publicationDate":"2021-06-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74449578","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-06-02DOI: 10.1146/ANNUREV-RESOURCE-101520-080657
D. Spielman, Els Lecoutere, Simrin Makhija, B. V. Campenhout
With new possibilities offered by information and communications technology (ICT), an abundance of products, services, and projects has emerged with the promise of revitalizing agricultural extension in developing countries. However, a growing body of evidence suggests that not all ICT-enabled extension approaches are equally effective in improving adoption, productivity, income, or welfare outcomes. In this review, we explore various conceptual and methodological threads in the literature on ICT-enabled extension in developing countries. We examine the role of multiple impact pathways, highlighting how ICTs influence behaviors and preferences, gender and intrahousehold dynamics, spillovers, and public worker incentives. We also explore the opportunities presented by ICT-enabled extension for increasing the methodological rigor with which extension outcomes are identified. These conceptual and methodological insights—coupled with empirical evidence from prior studies—offer direction for several lines of policy-relevant research on ICT-enabled extension. Expected final online publication date for the Annual Review of Resource Economics, Volume 13 is October 2021. Please see http://www.annualreviews.org/page/journal/pubdates for revised estimates.
{"title":"Information and Communications Technology (ICT) and Agricultural Extension in Developing Countries","authors":"D. Spielman, Els Lecoutere, Simrin Makhija, B. V. Campenhout","doi":"10.1146/ANNUREV-RESOURCE-101520-080657","DOIUrl":"https://doi.org/10.1146/ANNUREV-RESOURCE-101520-080657","url":null,"abstract":"With new possibilities offered by information and communications technology (ICT), an abundance of products, services, and projects has emerged with the promise of revitalizing agricultural extension in developing countries. However, a growing body of evidence suggests that not all ICT-enabled extension approaches are equally effective in improving adoption, productivity, income, or welfare outcomes. In this review, we explore various conceptual and methodological threads in the literature on ICT-enabled extension in developing countries. We examine the role of multiple impact pathways, highlighting how ICTs influence behaviors and preferences, gender and intrahousehold dynamics, spillovers, and public worker incentives. We also explore the opportunities presented by ICT-enabled extension for increasing the methodological rigor with which extension outcomes are identified. These conceptual and methodological insights—coupled with empirical evidence from prior studies—offer direction for several lines of policy-relevant research on ICT-enabled extension. Expected final online publication date for the Annual Review of Resource Economics, Volume 13 is October 2021. Please see http://www.annualreviews.org/page/journal/pubdates for revised estimates.","PeriodicalId":48856,"journal":{"name":"Annual Review of Resource Economics","volume":"1 1","pages":""},"PeriodicalIF":5.8,"publicationDate":"2021-06-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89822618","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"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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