干旱、洪水和(河流)改道:评估基于市场的水资源再分配

IF 10.5 1区 经济学 Q1 ECONOMICS American Economic Review Pub Date : 2023-02-01 DOI:10.1257/aer.20201434
Will Rafey
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引用次数: 9

摘要

本文提出并应用了一种河网水交易价值评估方法。该框架依靠调水上限的监管变化来确定灌溉农场的生产功能,然后使用估计的影子值来评估市场的再分配。我将这个框架应用于人类历史上最大的水市场,它位于澳大利亚东南部。从2007年到2015年,观察到的水资源交易使产出增加了4 - 6%,相当于避免了水资源8 - 12%的均匀下降。再分配和平均盈余在干旱期间都大幅增加,这意味着当气候变化最严重时,水市场可能最有价值。(jel d23, d24, q12, q15, q25, q54)
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Droughts, Deluges, and (River) Diversions: Valuing Market-Based Water Reallocation
This paper develops and applies a method to value water trading on a river network. The framework relies on regulatory variation in diversion caps to identify production functions for irrigated farms, then uses the estimated shadow values to assess the market’s reallocation. I apply this framework to the largest water market in human history, located in southeastern Australia. Observed water trading increased output by 4–6 percent from 2007 to 2015, equivalent to avoiding an 8–12 percent uniform decline in water resources. Reallocation and average surplus both increase substantially during drought, implying that water markets can be most valuable when climatic variability is most severe. (JEL D23, D24, Q12, Q15, Q25, Q54)
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来源期刊
CiteScore
18.60
自引率
2.80%
发文量
122
期刊介绍: The American Economic Review (AER) stands as a prestigious general-interest economics journal. Founded in 1911, it holds the distinction of being one of the nation's oldest and most esteemed scholarly journals in economics. With a commitment to academic excellence, the AER releases 12 issues annually, featuring articles that span a wide spectrum of economic topics.
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