Three Chapters In Applied Economics

Abstract

This dissertation comprises three chapters that address significant issues in applied economics, focusing on energy, agricultural trade, and environmental conservation. The first chapter, "The Impact of Small Refinery Exemptions on Renewable Fuel Market Factors in the United States" investigates the effects of regulatory exemptions on the renewable fuel industry. Small refinery exemptions (SREs) have been a contentious topic, as they allow certain refineries to bypass Renewable Fuel Standard (RFS) obligations. This chapter employs econometric models to analyze the influence of SREs on biofuel production, prices, and agricultural feedstock markets. The second chapter, "China’s Changing Demand for U.S. Agricultural Commodities: Structural Change in China’s Import Demand for Meat, Grains, and Oilseed Crops," explores the evolving trade dynamics between China and the United States. With China's rapid economic growth and shifting dietary preferences, there has been a notable increase in its demand for imported agricultural commodities. This chapter utilizes a structural change framework to assess how China's import patterns for meat, grains, and oilseeds have transformed in recent times. The third chapter, "Mitigating Climate Change with the Conservation Reserve Program (CRP): The Role of Carbon Credits and CRP Redesign," examines the potential of the CRP in contributing to climate change mitigation. This chapter evaluates the effectiveness of CRP in sequestering carbon and proposes redesigns to enhance its climate benefits. The study also explores the integration of carbon credits into the CRP, providing a market-based mechanism to incentivize greater participation and maximize environmental gain.