Estimating Ricardian Models With Panel Data
Although the Ricardian model is a cross sectional method, there are advantages to estimating the model with additional years of data. For instance, with a panel, one can more easily separate events in a single year (e.g. weather and price shocks) from longer term phenomenon such as climate. Many early studies used repeated cross sections to study panel data but one can get consistently better performance from panel methods. In this paper, we rely on two panel methods to estimate the Ricardian function for the United States across time. The results suggest that moderate warming scenarios would benefit American agriculture as a whole but more extreme climate scenarios would be damaging.
Volume (Year): 02 (2011)
Issue (Month): 04 ()
|Contact details of provider:|| Web page: http://www.worldscinet.com/cce/cce.shtml|
|Order Information:|| Email: |
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Janusz R. Mrozek & Laura O. Taylor, 2002. "What determines the value of life? a meta-analysis," Journal of Policy Analysis and Management, John Wiley & Sons, Ltd., vol. 21(2), pages 253-270.
- Mendelsohn, Robert & Dinar, Ariel & Sanghi, Apurva, 2001. "The effect of development on the climate sensitivity of agriculture," Environment and Development Economics, Cambridge University Press, vol. 6(01), pages 85-101, February.
- 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.
- 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.
- Robert Mendelsohn & Ariel Dinar, 2003. "Climate, Water, and Agriculture," Land Economics, University of Wisconsin Press, vol. 79(3), pages 328-341.
- Viscusi, W Kip & Aldy, Joseph E, 2003. "The Value of a Statistical Life: A Critical Review of Market Estimates throughout the World," Journal of Risk and Uncertainty, Springer, vol. 27(1), pages 5-76, August.
- W. Kip Viscusi & Joseph E. Aldy, 2003. "The Value of a Statistical Life: A Critical Review of Market Estimates throughout the World," NBER Working Papers 9487, National Bureau of Economic Research, Inc.
- repec:reg:rpubli:291 is not listed on IDEAS
- Robert Mendelsohn & William D. Nordhaus & Daigee Shaw, 1993. "Measuring the Impact of Global Warming in Agriculture," Cowles Foundation Discussion Papers 1045, Cowles Foundation for Research in Economics, Yale University.
- Conley, T. G., 1999. "GMM estimation with cross sectional dependence," Journal of Econometrics, Elsevier, vol. 92(1), pages 1-45, September.
- George R. Parsons & Yangru Wu, 1991. "The Opportunity Cost of Coastal Land-Use Controls: An Empirical Analysis," Land Economics, University of Wisconsin Press, vol. 67(3), pages 308-316. Full references (including those not matched with items on IDEAS)