Assessing Relative Performance of Econometric Models in Measuring the Impact of Climate Change on Agriculture Using Spatial Autoregression
AbstractAlthough econometric models have been widely used to measure the impact of climate change on agriculture, there exist differences among the modelers on which specification should be preferred. To help explain the discrepancies, this paper assesses four different econometric models, i.e., OLS, panel, and two spatial models using a South American agricultural household data. The relationship among the econometric specifications is examined in terms of the freedom given to a spatial autoregressive parameter. In spatial models, the spatial parameter is free within the model, but is fixed a priori in the aspatial models. Empirical results show a high correlation of the land values across South America. Spatial models result in somewhat lower climate change impact estimates than those from the aspatial models.
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Bibliographic InfoArticle provided by Southern Regional Science Association in its journal Review of Regional Studies.
Volume (Year): 38 (2008)
Issue (Month): 2 ()
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Agriculture; Climate; Econometrics; OLS; Spatial; Spatial Models;
Find related papers by JEL classification:
- C21 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models
- C52 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Evaluation, Validation, and Selection
- Q12 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Micro Analysis of Farm Firms, Farm Households, and Farm Input Markets
- Q15 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Land Ownership and Tenure; Land Reform; Land Use; Irrigation; Agriculture and Environment
- Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters
- R12 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Size and Spatial Distributions of Regional Economic Activity; Interregional Trade (economic geography)
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