, the forestry industry and forest profitability; discussion of land-use decision making, including the central question of … what influences conversion of farmland to forestry; and forest carbon ecology. Part II moves on to normative analysis of …

, and evaluate the importance of the forestry component of the ETS relative to the agricultural component. We also examine … the effect of land-use change on the time profile of net emissions from the forestry sector. Our projections for the mid … approach 20 percent of national inventory agricultural emissions in 2008. Most of this is driven by the reward for forestry …