Agricultural Land Elasticities in the United States and Brazil

Kanlaya J. Barr, Bruce Alan Babcock, Miguel A. Carriquiry, Andre M. Nassar and Leila Harfuch

Applied Economic Perspectives and Policy, 2011, vol. 33, issue 3, pages 449-462

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 CO₂ 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 CO₂ emissions from biofuels expansion may be overstated Copyright 2011, Oxford University Press.

Date: 2011
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Related works:
Working Paper: Agricultural Land Elasticities in the United States and Brazil (2012)
Working Paper: Agricultural Land Elasticities in the United States and Brazil (2012)
Working Paper: Agricultural Land Elasticities in the United States and Brazil (2010)
Working Paper: Agricultural Land Elasticities in the United States and Brazil (2010)
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