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Economic impacts of climate change on agrifood markets: A bio-economic approach with a focus on the EU

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  • Blanco, Maria
  • Ramos, Fabien
  • Van Doorslaer, Benjamin

Abstract

Projections for world food production and prices play a crucial role to evaluate and tackle future food security challenges. Understanding how these projections will be affected by climate change is the main objective of this study. By means of a bio-economic approach we assess the economic impacts of climate change on agrifood markets, providing both a global analysis and a regionalised evaluation within the EU. To account for uncertainty, we analyse the IPCC emission scenario A1B for the 2030 horizon under several simulation scenarios that differ in (1) the climate projection, from HadleyCM3 (warm) or ECHAM5 (mild) global circulation models; and (2) the influence of CO2 effects. Results of this study indicate that agrifood market projections to 2030 are very sensitive to climate change uncertainties and, in particular to the magnitude of the carbon fertilization effect.

Suggested Citation

  • Blanco, Maria & Ramos, Fabien & Van Doorslaer, Benjamin, 2014. "Economic impacts of climate change on agrifood markets: A bio-economic approach with a focus on the EU," 2014 International Congress, August 26-29, 2014, Ljubljana, Slovenia 182826, European Association of Agricultural Economists.
    • Handle: RePEc:ags:eaae14:182826
    DOI: 10.22004/ag.econ.182826
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    References listed on IDEAS

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    Cited by:

    1. Martinez, Pilar & Blanco, Maria & Van Doorslaer, Benjamin & Ramos, Fabien & Stanca, Lucian, 2015. "What role does climate change play in agricultural market uncertainty? An integrated assessment taking into account market-driven adjustments," 2015 Conference, August 9-14, 2015, Milan, Italy 212230, International Association of Agricultural Economists.
    2. Fernández, Francisco J. & Blanco, Maria, 2014. "Integration of biophysical and agro-economic models to assess the economic effects of climate change on agriculture: A review of global and EU regional approaches," Economics Discussion Papers 2014-48, Kiel Institute for the World Economy (IfW Kiel).
    3. Fernández, Francisco J. & Blanco, Maria, 2015. "Modelling the economic impacts of climate change on global and European agriculture: Review of economic structural approaches," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy (IfW Kiel), vol. 9, pages 1-53.

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    Environmental Economics and Policy; International Relations/Trade;

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