The optimal carbon sequestration in agricultural soils: does the dynamics of the physical process matter?

Lionel Ragot () and Katheline Schubert

Cahiers de la Maison des Sciences Economiques from Université Panthéon-Sorbonne (Paris 1)

Abstract: The Kyoto Protocol, which came in force in February 2005, allows countries to resort to "supplementary activities" consisting particularly in carbon sequestration in agricultural soils. Existing papers studying the optimal carbon sequestration recognize the importance of the temporality of sequestration, but overlook the fact that it is a dissymmetric dynamic process. This paper takes explicitly into account the temporality of sequestration. Its first contribution is technical: we solve an optimal control problem with two stages and a dissymmetric dynamic process. The second contribution is empirical: we show that the error made when sequestration is supposed immediate can be very significant, and we exhibit numerically the optimal path of sequestration /de-sequestration for specific benefit, damage and cost functions, and a calibration that mimics roughly the world conditions

Keywords: Environment; agriculture; carbon sequestration; Kyoto Protocol; optimal control (search for similar items in EconPapers)
JEL-codes: C61 H23 Q01 Q15 (search for similar items in EconPapers)
Pages: 27 pages
Date: 2006-03
New Economics Papers: this item is included in nep-agr, nep-ene and nep-env
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Published in Journal of Economic Dynamics and Control, Elsevier, 2008, 32 (12), pp.3847-3865

Downloads: (external link)
https://halshs.archives-ouvertes.fr/halshs-00115685 (application/pdf)
https://doi.org/10.1016/j.jedc.2008.03.007

Related works:
Journal Article: The optimal carbon sequestration in agricultural soils: Do the dynamics of the physical process matter? (2008)
Working Paper: The optimal carbon sequestration in agricultural soils: Do the dynamics of the physical process matter? (2008)
Working Paper: The optimal carbon sequestration in agricultural soils: Do the dynamics of the physical process matter? (2008)
Working Paper: The optimal carbon sequestration in agricultural soils: Do the dynamics of the physical process matter? (2008)
Working Paper: The optimal carbon sequestration in agricultural soils: does the dynamics of the physical process matter? (2006)
Working Paper: The optimal carbon sequestration in agricultural soils: does the dynamics of the physical process matter? (2006)
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Persistent link: https://EconPapers.repec.org/RePEc:mse:wpsorb:v06040

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