Details

Autor(en) / Beteiligte

• Deschênes, Olivier
• Greenstone, Michael

Titel

The Economic Impacts of Climate Change: Evidence from Agricultural Output and Random Fluctuations in Weather

Ist Teil von

• The American economic review, 2007-03, Vol.97 (1), p.354-385

Ort / Verlag

American Economic Association

Erscheinungsjahr

2007

Link zum Volltext

Quelle

EBSCOhost Business Source Ultimate

Beschreibungen/Notizen

• This paper measures the economic impact of climate change on US agricultural land by estimating the effect of random year-to-year variation in temperature and precipitation on agricultural profits. The preferred estimates indicate that climate change will increase annual profits by $1.3 billion in 2002 dollars (2002$) or 4 percent. This estimate is robust to numerous specification checks and relatively precise, so large negative or positive effects are unlikely. We also find the hedonic approach-which is the standard in the previous literature-to be unreliable because it produces estimates that are extremely sensitive to seemingly minor choices about control variables, sample, and weighting.