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英文文献：Long Term Versus Temporary Certified Emission Reductions in Forest Carbon-Sequestration Programs-森林碳封存计划的长期减排量与临时减排量
英文文献作者：Galinato, Gregmar I.,Olanie, Aaron,Uchida, Shinsuke,Yoder, Jonathan K.
英文文献摘要：
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 strategies that compares private optimal harvest decision under these two instruments. We find that risk neutral landowners are likely to prefer instituting lCERs over tCERs to maximize surplus. A particular type of early harvest penalty implemented under the lCERs is critical in determining the length of rotation intervals and the carbon credit supply. When this penalty is an increasing function of the difference in biomass before and after harvesting across verification periods, the landowner may choose longer or shorter rotation intervals compared to the Faustmann rotation. The resulting supply curve may have a backward bending region over a range of carbon prices.
根据《京都议定书》的清洁发展机制(CDM)，森林项目可以通过两种信贷工具获得碳封存的回报:临时(tcer)或长期认证减排(lCERs)。本文建立了最优收获策略的理论模型，比较了这两种工具下的私人最优收获决策。我们发现，风险中立的土地所有者更倾向于设立lCERs而不是tCERs来最大化剩余。在lCERs下实施的一种特殊类型的早期收获惩罚对于确定轮作间隔的长度和碳信贷供应至关重要。当这种惩罚是在验证期间收获前后生物量差异的递增函数时，土地所有者可以选择比佛斯特曼轮作更长或更短的轮作间隔。由此产生的供给曲线在一定的碳价格范围内可能有一个向后弯曲的区域。
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