Abstract
Available estimates of the land use changes and greenhouse gas emissions of biofuels differ significantly across economic models. This paper focuses on the impacts of price-induced yield assumptions on U.S. corn ethanol results. These assumptions have dramatic impacts within the FAPRI modeling framework, but limited ones within the GTAP-BIO model. I show that these sensitivity to yield assumption results are not comparable because the ex ante land and production elasticities assumed in these two models are not comparable. The analysis reveals that the current focus solely on the value of the price-induced yield elasticity can be misleading. (JEL Q11, Q28)
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In this issue
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- Article
- Abstract
- I. The Issue
- II. On the Calibration of Production, Land, and Yield Responses in the Gtap-Bio and Fapri Models
- The Specification of Agricultural Supplies
- The Calibration Results
- III. Impacts of Alternative Calibrations of Crop Yield Responses With The Gtap-Bio Model
- The Alternative Calibrations
- Results
- Sensitivity Analysis to the Length of Run
- IV. Concluding Comments
- Acknowledgments
- Footnotes
- References
- Figures & Data
- Info & Metrics
- References