SUBSIDIES! THE OTHER INCENTIVE-BASED INSTRUMENT: THE CASE OF THE CONSERVATION RESERVE PROGRAM

Hongli Feng, Catherine L. Kling, Lyubov A. Kurkalova and Silvia Secchi

No 18589, Hebrew University of Jerusalem Archive from Hebrew University of Jerusalem

Abstract: In this paper, we examine command-and-control (CAC) policies and market-based instruments (MBI) in the context of the Conservation Reserve Program (CRP). The CRP, an MBI in the form of subsidies, is by far the largest agro-environmental policy implemented to date. We compare the environmental performance of the CRP as implemented to a few counterfactual CAC polices using EPIC (Environmental Policy Integrated Climate), a bio-physical simulation model. In the context of multiple environmental indicators, no policy alternative emerges as a clear winner. The importance of the choice and design of CAC policies is emphasized.

Keywords: Land; Economics/Use (search for similar items in EconPapers)
Pages: 29
Date: 2003
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Persistent link: https://EconPapers.repec.org/RePEc:ags:hebarc:18589

DOI: 10.22004/ag.econ.18589

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