Galinato, Gregmar I.; Olanie, Aaron; Uchida, Shinsuke; … - Agricultural and Applied Economics Association - AAEA - 2010
Under the Clean Development Mechanism (CDM) of the Kyoto Protocol, forest projects can receive returns for carbon sequestration via two credit instruments: temporary (tCERs) or long-term certified emission reductions (lCERs). This article develops a theoretical model of optimal harvesting...