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

  title={The Economic Impacts of Climate Change: Evidence from Agricultural Profits and Random Fluctuations in Weather},
  author={Olivier Deschenes and Michael Greenstone},
  journal={Agricultural \& Natural Resource Economics},
This paper measures the economic impact of climate change on US agricultural land. We replicate the previous literature's implementation of the hedonic approach and find that it produces estimates of the effect of climate change that are very sensitive to decisions about the appropriate control variables, sample and weighting. We find estimates of the benchmark doubling of greenhouse gases on agricultural land values that range from a decline of $420 billion (1997$) to an increase of $265… 

An essay on the impact of climate change on US agriculture: weather fluctuations, climatic shifts, and adaptation strategies

  • S. Seo
  • Environmental Science
    Climatic Change
  • 2013
The impact of climate change on US agriculture has been debated for more than two decades, but the estimates ranged from no damage at the lower end to 80 % losses of grain yields at the higher end.

The Impact of Climate Change on U.S. Agriculture: The Roles of Adaptation Techniques and Emissions Reductions

We investigate the impact of climate change on U.S. agricultural productivity using county-level yield and weather data from 1950 to 2015. We present two new methods of modelling how producers adapt

Determining climate effects on US total agricultural productivity

This work analyzes correlations between regional climate variations and national TFP changes, identifies key climate indices, and builds a multivariate regression model predicting the growth of agricultural TFP based on a physical understanding of its historical relationship with climate.

Economic impacts of climate change on California agriculture

Using county-level data from the United States Department of Agriculture’s Census of Agriculture, this study evaluates the effect of weather and climate on agricultural profits in the State of

Estimating the Economic Impacts of Climate Change Using Weather Observations

  • C. KolstadF. Moore
  • Economics, Environmental Science
    Review of Environmental Economics and Policy
  • 2020
This article reviews methods that use historical data on weather, climate, economic activity, and other variables to statistically measure the effect of climate on economic outcomes. This has been an

Working Paper Series Climate Change , Mortality and Adaptation : Evidence from Annual Fluctuations in Weather in the U

This paper produces the first large-scale estimates of the US health related welfare costs due to climate change. The full welfare impact will be reflected in health outcomes and increased

The Real Effects of Climate Change in the Poorest Countries: Evidence from the Permanent Shrinking of Lake Chad

Due to identification concerns, empirical studies of the economic effects of climate change typically rely on “climate shocks” for their analysis, hence year-to-year climate variations. The economic


This study relies on the Ricardian method to estimate the damages of climate change to US agriculture. The study uses repeated cross sectional analyses of US Census data collected at the county level

The Food Problem and the Aggregate Productivity Consequences of Climate Change

This paper integrates local temperature treatment effects and a quantitative macroeconomic model to evaluate the impact of climate change on sectoral reallocation and aggregate productivity. First, I

Climate Change, Mortality, and Adaptation: Evidence from Annual Fluctuations in Weather in the Us

This paper produces the first large-scale estimates of the US health related welfare costs due to climate change. Using the presumably random year-to-year variation in temperature and two state of



The Impact of Climate Change on the United States Economy: The impact of climate variation on US agriculture

This chapter explores the effect of climate on the value of US agricultural land using a Ricardian model. The research extends previous analyses by including both interseasonal and diurnal climate

The Impact of Global Warming on U.S. Agriculture: An Econometric Analysis of Optimal Growing Conditions

We link farmland values to climatic, soil, and socioeconomic variables for U.S. counties east of the 100th meridian, the historical boundary of agriculture not primarily dependent on irrigation.

The Impact of Global Warming on Agriculture: A Ricardian Analysis: Reply

The authors measure the economic impact of climate on land prices. Using cross-sectional data on climate, farmland prices, and other economic and geophysical data for almost 3,000 counties in the

The Effects of Potential Land Development on Agricultural Land Prices

We conduct a national-scale study of the determinants of agricultural land values to better understand how current farmland prices are influenced by the potential for future land development. The

Uncertainty in future carbon emissions : a preliminary exploration

In order to analyze competing policy approaches for addressing global climate change, a wide variety of economic-energy models are used to project future carbon emissions under various policy

Climate change 1995: the science of climate change.

This extensive report entitled “Climate Change 1995: The Science of Climate Change” is the most comprehensive and up-to-date assessment available for scientific understanding of human influences on

Stabilisation Targets, Technical Change and the Macroeconomic Costs of Climate Change Control

The issue of greenhouse gas (GHG) stabilization stands on three critical open questions. Namely, what are the impacts deriving from different levels of climate change and their distribution. What are

Comment on "Climate and Management Contributions to Recent Trends in U.S. Agricultural Yields"

  • L. Gu
  • Environmental Science
  • 2003
A randomly constructed artificial data set of crop yields and air temperatures for 1500 hypothetical locations over a 17-year period found that yield trends were not significantly influenced by precipitation or solar radiation trends, but they drew that conclusion by analyzing the selected subset of the data that had previously been filtered according to correlations between yield anomalies and temperature anomalies.

On the Behaviour of Commodity Prices

This paper applies the standard rational expectations competitive storage model to the study of thirteen commodities. It explains the skewness, and the existence of rare but violent explosions in