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Assessing Relative Performance of Econometric Models in Measuring the Impact of Climate Change on Agriculture Using Spatial Autoregression

  • Seo, S. Niggol

    (U Sydney)

Although 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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Article provided by Southern Regional Science Association in its journal Review of Regional Studies.

Volume (Year): 38 (2008)
Issue (Month): 2 ()
Pages: 195-209

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Handle: RePEc:rre:publsh:v:38:y:2008:i:2:p:195-209
Contact details of provider: Web page: http://www.srsa.org

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  1. 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.
  2. Kelly, David L. & Kolstad, Charles D. & Mitchell, Glenn T., 2005. "Adjustment costs from environmental change," Journal of Environmental Economics and Management, Elsevier, vol. 50(3), pages 468-495, November.
  3. Olivier DeschĂȘnes & 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.
  4. Jorge Chica Olmo, 1995. "Spatial Estimation of Housing Prices and Locational Rents," Urban Studies, Urban Studies Journal Limited, vol. 32(8), pages 1331-1344, August.
  5. Schlenker, Wolfram & Hanemann, W. Michael & Fisher, Anthony C., 2004. "Will U.S. Agriculture Really Benefit from Global Warming? Accounting for Irrigation in the Hedonic Approach," Department of Agricultural & Resource Economics, UC Berkeley, Working Paper Series qt65s781bh, Department of Agricultural & Resource Economics, UC Berkeley.
  6. Martin Benirschka & James K. Binkley, 1994. "Land Price Volatility in a Geographically Dispersed Market," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 76(2), pages 185-195.
  7. Dubin, Robin A, 1988. "Estimation of Regression Coefficients in the Presence of Spatially Autocorrelated Error Terms," The Review of Economics and Statistics, MIT Press, vol. 70(3), pages 466-74, August.
  8. Cline, William R, 1996. "The Impact of Global Warming on Agriculture: Comment," American Economic Review, American Economic Association, vol. 86(5), pages 1309-11, December.
  9. 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 753-71, September.
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