Climate, Grapevine Phenology, Wine Production, and Prices: Pauillac (1800-2009)
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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Volume (Year): 101 (2011)
Issue (Month): 3 (May)
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- Jones, Gregory V. & Storchmann, Karl-Heinz, 2001.
"Wine market prices and investment under uncertainty: an econometric model for Bordeaux Crus Classes,"
Agricultural Economics of Agricultural Economists,
International Association of Agricultural Economists, vol. 26(2), November.
- 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.
- Orley Ashenfelter, 2008. "Predicting the Quality and Prices of Bordeaux Wine," Economic Journal, Royal Economic Society, vol. 118(529), pages 174-184, 06.
- Ashenfelter, Orley, 2007. "Predicting the quality and prices of Bordeaux wines," Working Papers 37297, American Association of Wine Economists.