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The economic relevance of climate variables in agriculture: The case of Spain

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  • Garcia, Maria
  • Viladrich-Grau, Montserrat

Abstract

We estimate how climate variables affect price and acreage of productive farmland using the Ricardian approach. Furthermore, we use our estimations to evaluate the joint effects of possible climate changes within the time horizon of 2010 and 2050. Our results show that the price of rainfed land in Spain tends to increase but rainfed acreage decreases. On the other hand, the effect on irrigated farmland price and acreage presents some mixed results, however, in the long run the dominant pattern is clearly increasing for both prices and acreage.

Suggested Citation

  • Garcia, Maria & Viladrich-Grau, Montserrat, 2009. "The economic relevance of climate variables in agriculture: The case of Spain," Economia Agraria y Recursos Naturales, Spanish Association of Agricultural Economists, vol. 9(2).
  • Handle: RePEc:ags:earnsa:57291
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    File URL: http://purl.umn.edu/57291
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    References listed on IDEAS

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    1. William D. Nordhaus & Robert Mendelsohn, 1999. "The Impact of Global Warming on Agriculture: A Ricardian Analysis: Reply," American Economic Review, American Economic Association, vol. 89(4), pages 1046-1048, September.
    2. Cline, William R, 1996. "The Impact of Global Warming on Agriculture: Comment," American Economic Review, American Economic Association, vol. 86(5), pages 1309-1311, December.
    3. Mendelsohn, Robert & Nordhaus, William D & Shaw, Daigee, 1994. "The Impact of Global Warming on Agriculture: A Ricardian Analysis," American Economic Review, American Economic Association, vol. 84(4), pages 753-771, September.
    4. Dinar, A. & Mendelsohn, R. & Evenson, R. & Parikh, J. & Sanghi, A. & Kumar, K. & McKinsey, J. & Lonergen, S., 1998. "Measuring the Impact of CLimate Change on Indian Agriculture," Papers 402, World Bank - Technical Papers.
    5. Dixon, Bruce L. & Segerson, Kathleen, 1999. "Impacts of Increased Climate Variability on the Profitability of Midwest Agriculture," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 31(03), pages 537-549, December.
    6. Wolfram Schlenker & W. Michael Hanemann & Anthony C. Fisher, 2005. "Will U.S. Agriculture Really Benefit from Global Warming? Accounting for Irrigation in the Hedonic Approach," American Economic Review, American Economic Association, vol. 95(1), pages 395-406, March.
    7. Kaufmann, Robert K., 1998. "The impact of climate change on US agriculture: a response to Mendelssohn et al. (1994)," Ecological Economics, Elsevier, vol. 26(2), pages 113-119, August.
    8. Quiroga, Sonia & Iglesias, Ana, 2007. "Projections of economic impacts of climate change in agriculture in Europe," Economia Agraria y Recursos Naturales, Spanish Association of Agricultural Economists, vol. 7(14).
    9. Michelle J. Reinsborough, 2003. "A Ricardian model of climate change in Canada," Canadian Journal of Economics, Canadian Economics Association, vol. 36(1), pages 21-40, February.
    10. John K. Horowitz & John Quiggin, 1999. "The Impact of Global Warming on Agriculture: A Ricardian Analysis: Comment," American Economic Review, American Economic Association, vol. 89(4), pages 1044-1045, September.
    11. Mendelsohn, Robert & Nordhaus, William, 1996. "The Impact of Global Warming on Agriculture: Reply," American Economic Review, American Economic Association, vol. 86(5), pages 1312-1315, December.
    12. D Maddison, 2000. "A hedonic analysis of agricultural land prices in England and Wales," European Review of Agricultural Economics, Foundation for the European Review of Agricultural Economics, vol. 27(4), pages 519-532, December.
    13. Dixon, Bruce L. & Segerson, Kathleen, 1999. "Impacts Of Increased Climate Variability On The Profitability Of Midwest Agriculture," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 31(03), December.
    14. repec:ags:joaaec:v:31:y:1999:i:3:p:537-49 is not listed on IDEAS
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    Cited by:

    1. Catherine Benjamin & Ewen Gallic, 2017. "Effects of Climate Change on Agriculture: a European case study," Economics Working Paper Archive (University of Rennes 1 & University of Caen) 2017-16, Center for Research in Economics and Management (CREM), University of Rennes 1, University of Caen and CNRS.

    More about this item

    Keywords

    Climate change; agricultural land prices and acreage; Agricultural and Food Policy; Q1; C2;

    JEL classification:

    • Q1 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture
    • C2 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables

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