Chakravorty, Ujjayant; Hubert, Marie-Helene; Moreaux, Michel - In: Frontiers of Economics in China 9 (2014) 1, pp. 52-69
Many countries are promoting biofuels as a substitute for scarce oil. This paper develops a dynamic model of land allocation between food and energy and shows how the model can be calibrated using standard optimization techniques. Some possible implications of the trade-offs between food and...