IDEAS home Printed from https://ideas.repec.org/a/eee/eneeco/v60y2016icp144-150.html
   My bibliography  Save this article

How well do degree days over the growing season capture the effect of climate on farmland values?

Author

Listed:
  • Massetti, Emanuele
  • Mendelsohn, Robert
  • Chonabayashi, Shun

Abstract

Farmland values have traditionally been valued using seasonal temperature and precipitation but degree days over the growing season offer a more compact alternative. We find that degree days and daily temperature are interchangeable over the growing season. However, the impact of degree days in spring and summer is quite different. Climate effects outside the growing season are also significant. Cross sectional evidence suggests seasonal temperature and precipitation are very important whereas temperature extremes have relatively small effects.

Suggested Citation

  • Massetti, Emanuele & Mendelsohn, Robert & Chonabayashi, Shun, 2016. "How well do degree days over the growing season capture the effect of climate on farmland values?," Energy Economics, Elsevier, vol. 60(C), pages 144-150.
    • Handle: RePEc:eee:eneeco:v:60:y:2016:i:c:p:144-150
    DOI: 10.1016/j.eneco.2016.09.004
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0140988316302390
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.eneco.2016.09.004?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Frances C. Moore & David B. Lobell, 2014. "Adaptation potential of European agriculture in response to climate change," Nature Climate Change, Nature, vol. 4(7), pages 610-614, July.
    2. Anthony C. Fisher & W. Michael Hanemann & Michael J. Roberts & Wolfram Schlenker, 2012. "The Economic Impacts of Climate Change: Evidence from Agricultural Output and Random Fluctuations in Weather: Comment," American Economic Review, American Economic Association, vol. 102(7), pages 3749-3760, December.
    3. Emanuele Massetti & Robert Mendelsohn, 2011. "Estimating Ricardian Models With Panel Data," Climate Change Economics (CCE), World Scientific Publishing Co. Pte. Ltd., vol. 2(04), pages 301-319.
    4. Wolfram Schlenker & W. Michael Hanemann & Anthony C. Fisher, 2006. "The Impact of Global Warming on U.S. Agriculture: An Econometric Analysis of Optimal Growing Conditions," The Review of Economics and Statistics, MIT Press, vol. 88(1), pages 113-125, February.
    5. Robert Mendelsohn & Ariel Dinar, 2009. "Climate Change and Agriculture," Books, Edward Elgar Publishing, number 12990.
    6. 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.
    7. Olivier Deschênes & Michael Greenstone, 2007. "The Economic Impacts of Climate Change: Evidence from Agricultural Output and Random Fluctuations in Weather," American Economic Review, American Economic Association, vol. 97(1), pages 354-385, March.
    8. Mendelsohn, Robert & Massetti, Emanuele & Kim, Chang-Gil, 2011. "The Impact Of Climate Change On Us Agriculture," Journal of Rural Development/Nongchon-Gyeongje, Korea Rural Economic Institute, vol. 34(2), pages 1-25, June.
    9. Ariel Dinar & Robert Mendelsohn (ed.), 2011. "Handbook on Climate Change and Agriculture," Books, Edward Elgar Publishing, number 13942.
    10. Maximilian Auffhammer & Solomon M. Hsiang & Wolfram Schlenker & Adam Sobel, 2013. "Using Weather Data and Climate Model Output in Economic Analyses of Climate Change," Review of Environmental Economics and Policy, Association of Environmental and Resource Economists, vol. 7(2), pages 181-198, July.
    11. Pradeep Kurukulasuriya & Namrata Kala & Robert Mendelsohn, 2011. "Adaptation And Climate Change Impacts: A Structural Ricardian Model Of Irrigation And Farm Income In Africa," Climate Change Economics (CCE), World Scientific Publishing Co. Pte. Ltd., vol. 2(02), pages 149-174.
    12. Conley, T. G., 1999. "GMM estimation with cross sectional dependence," Journal of Econometrics, Elsevier, vol. 92(1), pages 1-45, September.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Bareille, François & Chakir, Raja, 2023. "The impact of climate change on agriculture: A repeat-Ricardian analysis," Journal of Environmental Economics and Management, Elsevier, vol. 119(C).
    2. Lamonaca, Emilia & Santeramo, Fabio Gaetano & Seccia, Antonio, 2021. "Climate changes and new productive dynamics in the global wine sector," Bio-based and Applied Economics Journal, Italian Association of Agricultural and Applied Economics (AIEAA), vol. 10(2), April.
    3. Yoro Diallo & Sébastien Marchand & Etienne Espagne, 2019. "Impacts of extreme events on technical efficiency in Vietnamese agriculture," Working Papers halshs-02080285, HAL.
    4. Fabri, Charlotte & Moretti, Michele & Passel, Steven Van, 2021. "On the (Ir)relevance of Heatwaves in Climate Change Impacts on European Agriculture," 2021 Conference, August 17-31, 2021, Virtual 314966, International Association of Agricultural Economists.
    5. Martina Bozzola & Emanuele Massetti & Robert Mendelsohn & Fabian Capitanio, 2018. "A Ricardian analysis of the impact of climate change on Italian agriculture," European Review of Agricultural Economics, Oxford University Press and the European Agricultural and Applied Economics Publications Foundation, vol. 45(1), pages 57-79.
    6. Abdul Quddoos & Klaus Salhofer & Ulrich B. Morawetz, 2023. "Utilising farm‐level panel data to estimate climate change impacts and adaptation potentials," Journal of Agricultural Economics, Wiley Blackwell, vol. 74(1), pages 75-99, February.
    7. Etienne ESPAGNE & Yoro DIALLO & Sébastien MARCHAND, 2019. "Impacts of Extreme Climate Events on Technical Efficiency in Vietnamese Agriculture," Working Paper c1221ee7-5311-4af0-b1b4-3, Agence française de développement.
    8. Jesus Eduardo Robles Chavez, 2022. "Allocation of drought relief resources and its biased impact on agricultural production in Mexico," Sobre México. Revista de Economía, Sobre México. Temas en economía, vol. 3(6), pages 40-80.
    9. Charlotte Fabri & Michele Moretti & Steven Van Passel, 2022. "On the (ir)relevance of heatwaves in climate change impacts on European agriculture," Climatic Change, Springer, vol. 174(1), pages 1-20, September.
    10. Moretti, Michele & Vanschoenwinkel, Janka & Van Passel, Steven, 2021. "Accounting for externalities in cross-sectional economic models of climate change impacts," Ecological Economics, Elsevier, vol. 185(C).
    11. Massetti, Emanuele & Mendelsohn, Robert, 2017. "Do Temperature Thresholds Threaten American Farmland?," EIA: Climate Change: Economic Impacts and Adaptation 263482, Fondazione Eni Enrico Mattei (FEEM).
    12. Emanuele Massetti & Robert Mendelsohn, 2020. "Temperature thresholds and the effect of warming on American farmland value," Climatic Change, Springer, vol. 161(4), pages 601-615, August.
    13. Barbora Sedova & Matthias Kalkuhl & Robert Mendelsohn, 2020. "Distributional Impacts of Weather and Climate in Rural India," Economics of Disasters and Climate Change, Springer, vol. 4(1), pages 5-44, April.
    14. Meyer, Kevin Michael, 2017. "Three essays on environmental and resource economics," ISU General Staff Papers 201701010800006585, Iowa State University, Department of Economics.
    15. Emanuele Massetti & Steven Van Passel & Camila Apablaza, 2018. "Is Western European Agriculture Resilient to High Temperatures?," CESifo Working Paper Series 7286, CESifo.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Steven Passel & Emanuele Massetti & Robert Mendelsohn, 2017. "A Ricardian Analysis of the Impact of Climate Change on European Agriculture," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 67(4), pages 725-760, August.
    2. Martina Bozzola & Emanuele Massetti & Robert Mendelsohn & Fabian Capitanio, 2018. "A Ricardian analysis of the impact of climate change on Italian agriculture," European Review of Agricultural Economics, Oxford University Press and the European Agricultural and Applied Economics Publications Foundation, vol. 45(1), pages 57-79.
    3. Abdul Quddoos & Klaus Salhofer & Ulrich B. Morawetz, 2023. "Utilising farm‐level panel data to estimate climate change impacts and adaptation potentials," Journal of Agricultural Economics, Wiley Blackwell, vol. 74(1), pages 75-99, February.
    4. Meyer, Kevin Michael, 2017. "Three essays on environmental and resource economics," ISU General Staff Papers 201701010800006585, Iowa State University, Department of Economics.
    5. Charlotte Fabri & Michele Moretti & Steven Van Passel, 2022. "On the (ir)relevance of heatwaves in climate change impacts on European agriculture," Climatic Change, Springer, vol. 174(1), pages 1-20, September.
    6. Emanuele Massetti & Steven Van Passel & Camila Apablaza, 2018. "Is Western European Agriculture Resilient to High Temperatures?," CESifo Working Paper Series 7286, CESifo.
    7. Massetti, Emanuele & Mendelsohn, Robert, 2017. "Do Temperature Thresholds Threaten American Farmland?," EIA: Climate Change: Economic Impacts and Adaptation 263482, Fondazione Eni Enrico Mattei (FEEM).
    8. Carlo Fezzi & Ian Bateman, 2015. "The Impact of Climate Change on Agriculture: Nonlinear Effects and Aggregation Bias in Ricardian Models of Farmland Values," Journal of the Association of Environmental and Resource Economists, University of Chicago Press, vol. 2(1), pages 57-92.
    9. Yun, Seong Do & Gramig, Benjamin M & Delgado, Michael S. & Florax, Raymond J.G.M., 2015. "Does Spatial Correlation Matter in Econometric Models of Crop Yield Response and Weather?," 2015 AAEA & WAEA Joint Annual Meeting, July 26-28, San Francisco, California 205465, Agricultural and Applied Economics Association.
    10. Yoro Diallo & Sébastien Marchand & Etienne Espagne, 2019. "Impacts of extreme events on technical efficiency in Vietnamese agriculture," CIRED Working Papers halshs-02080285, HAL.
    11. Etienne ESPAGNE & Yoro DIALLO & Sébastien MARCHAND, 2019. "Impacts of Extreme Climate Events on Technical Efficiency in Vietnamese Agriculture," Working Paper c1221ee7-5311-4af0-b1b4-3, Agence française de développement.
    12. Pierre Mérel & Matthew Gammans, 2021. "Climate Econometrics: Can the Panel Approach Account for Long‐Run Adaptation?," American Journal of Agricultural Economics, John Wiley & Sons, vol. 103(4), pages 1207-1238, August.
    13. Huang, Kaixing & Zhao, Hong & Huang, Jikun & Wang, Jinxia & Findlay, Christopher, 2020. "The impact of climate change on the labor allocation: Empirical evidence from China," Journal of Environmental Economics and Management, Elsevier, vol. 104(C).
    14. Bareille, François & Chakir, Raja, 2023. "The impact of climate change on agriculture: A repeat-Ricardian analysis," Journal of Environmental Economics and Management, Elsevier, vol. 119(C).
    15. Huang, K., 2018. "How Large is the Potential Economic Benefit of Agricultural Adaptation to Climate Change?," 2018 Conference, July 28-August 2, 2018, Vancouver, British Columbia 277238, International Association of Agricultural Economists.
    16. Arellano Gonzalez, Jesus, 2018. "Estimating climate change damages in data scarce and non-competitive settings: a novel version of the Ricardian approach with an application to Mexico," 2018 Annual Meeting, August 5-7, Washington, D.C. 274010, Agricultural and Applied Economics Association.
    17. Kaixing Huang & Nicholas Sim, 2021. "Adaptation May Reduce Climate Damage in Agriculture by Two Thirds," Journal of Agricultural Economics, Wiley Blackwell, vol. 72(1), pages 47-71, February.
    18. Ariel Ortiz‐Bobea, 2020. "The Role of Nonfarm Influences in Ricardian Estimates of Climate Change Impacts on US Agriculture," American Journal of Agricultural Economics, John Wiley & Sons, vol. 102(3), pages 934-959, May.
    19. Frederick Quaye & Denis Nadolnyak & Valentina Hartarska, 2018. "Climate Change Impacts on Farmland Values in the Southeast United States," Sustainability, MDPI, vol. 10(10), pages 1-16, September.
    20. De Salvo, Maria & Raffaelli, Roberta & Moser, Riccarda, 2013. "The impact of climate change on permanent crops in an Alpine region: A Ricardian analysis," Agricultural Systems, Elsevier, vol. 118(C), pages 23-32.

    More about this item

    Keywords

    Degree days; Climate change impacts; Agriculture; Land values;
    All these keywords.

    JEL classification:

    • Q12 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Micro Analysis of Farm Firms, Farm Households, and Farm Input Markets
    • Q24 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Land
    • Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:eneeco:v:60:y:2016:i:c:p:144-150. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/eneco .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.