Valuing Ecosystem Services for Agricultural TFP
31 Pages Posted: 29 Sep 2020
Date Written: June 3, 2020
This paper provides a brief overview of methods to incorporate ecosystem service values into measures of agricultural total factor productivity, both in theory and in practice. This includes a review of the academic literature, summary of related economic index theory, and comparison of agency guidelines. We consider areas of consensus between the agencies and research literature, as well as open debates surrounding implementation of a standardized ecosystem accounting framework to integrate with existing TFP measures.
Keywords: Ecosystem services, valuation, agricultural TFP
JEL Classification: D24, Q57
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