This paper examines biofuels from an economic perspective and evaluates the merits of promoting biofuel production in the context of the policies' multiple objectives, life-cycle implications, pecuniary externalities, and other unintended consequences. The policy goals most often cited are to...

This paper examines biofuels from an economic perspective and evaluates the merits of promoting biofuel production in the context of the policies’ multiple objectives, life-cycle implications, pecuniary externalities, and other unintended consequences. The policy goals most often cited are to...

With the increasing research interests in biofuels, global implications of biofuels production have been generally examined either in a partial equilibrium (PE) or general equilibrium (GE) frameworks. Though both of these approaches have unique strengths, they also suffer from many limitations...

The contribution of biofuels to the saving of greenhouse gas (GHG) emissions has recently been questioned because of emissions resulting from land use change (LUC) for the bioenergy feedstock production. We investigate how an expanding biofuel feedstock production impacts on land use dynamics if...

The elasticity of aggregate supply 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 supply. In this paper we report land supply elasticities for the United States and...