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Climate, Grapevine Phenology, Wine Production, and Prices: Pauillac (1800-2009)

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Author Info

  • Jean-Michel Chevet
  • Sebastien Lecocq
  • Michael Visser

Abstract

This paper analyzes 19th and 20th century data from a well-known chateau in Bordeaux. The dataset includes information on weather conditions, starting dates of three phenological stages of grapevine, prices, and yields. We discuss how these variables have evolved over the last two centuries. We also study to what extent the impact of climate on yields and prices has changed over time. Our regression analysis suggests that the effect of temperature on yields has become weaker since the 19th century. The influence on prices has, on the contrary, become stronger.

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File URL: http://www.aeaweb.org/articles.php?doi=10.1257/aer.101.3.142
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Bibliographic Info

Article provided by American Economic Association in its journal American Economic Review.

Volume (Year): 101 (2011)
Issue (Month): 3 (May)
Pages: 142-46

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Handle: RePEc:aea:aecrev:v:101:y:2011:i:3:p:142-46

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  1. Orley Ashenfelter, 2008. "Predicting the Quality and Prices of Bordeaux Wine," Economic Journal, Royal Economic Society, vol. 118(529), pages F174-F184, 06.
  2. Jones, Gregory V. & Storchmann, Karl-Heinz, 2001. "Wine market prices and investment under uncertainty: an econometric model for Bordeaux Crus Classes," Agricultural Economics, Blackwell, vol. 26(2), pages 115-133, November.
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Cited by:
  1. Vincent Bignon & Eve Caroli & Roberto Galbiati, 2011. "Stealing to Survive: Crime and Income Shocks in 19th Century France," PSE Working Papers halshs-00623804, HAL.
  2. Dimson, Elroy & Rousseau, Peter L. & Spaenjers, Christophe, 2013. "The Price of Wine," Les Cahiers de Recherche 1019, HEC Paris.
  3. Morgan Kelly & Cormac Ó Gráda, 2012. "The Waning of the Little Ice Age," Working Papers 201211, School Of Economics, University College Dublin.
  4. Ashenfelter, Orley & Storchmann, Karl, 2014. "Wine and Climate Change," Working Papers 164854, American Association of Wine Economists.
  5. repec:hal:wpaper:halshs-00623804 is not listed on IDEAS

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