\section{Fallow Program Estimates}
\label{A:FALPROG}
This appendix presents event study estimates for the \ac{SBD1} four-year fallowing program, comparable to the results provided in \cref{FIG:EVENTCREP} and \cref{FIG:EVENTNEAR} for the \ac{CREP} policy outcomes.

\cref{FIG:EVENTFAL} provides the coefficient plot of the four-year fallowing program for wells enrolled in the program. Pre-trend cannot be rejected, although there is a strong response to the policy initiation\footnote{Year=0}. It is not clear why pumping rates increase in the year following entrance into the program. The most likely explanation is that the farmers rotate fallowed fields. The program allows farmers to rotate which fields are fallowed. After a well is enrolled in the contract that well may be permitted to reactivate in the following year, so long as a new well is enrolled. This would explain the large confidence intervals in year one.
\FloatBarrier
\begin{figure}[h]
    \centering
    \includegraphics[width=\textwidth]{FALLOW_EVENT_STUDY.pdf}
    \caption{Fallow program event study}
    \label{FIG:EVENTFAL}
\end{figure}

\cref{FIG:FALPROGNEAR} provides the coefficient plot for the neighborhood spillover effects of the four-year fallowing program. These results are not significant, and the hypotheses that there is not a neighborhood spillover effect cannot be rejected. This can be explained by the shorter contract term. Neighboring wells should not adjust long-run expectations of neighboring pumping based on the entrance into this temporary program.

\FloatBarrier
\begin{figure}
    \centering
    \includegraphics[width=\textwidth]{CLOSE_FAL_EVENT_STUDY.pdf}
    \caption{Fallow program neighbor well event study}
    \label{FIG:FALPROGNEAR}
\end{figure}
\FloatBarrier
