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A Ricardian Analysis of the Impact of Climate Change on European Agriculture

Author

Listed:
  • Van Passel, Steven
  • Massetti, Emanuele
  • Mendelsohn, Robert

Abstract

This research estimates the impact of climate on European agriculture using a continental scale Ricardian analysis. Data on climate, soil, geography and regional socio-economic characteristics were matched for 37 612 individual farms across the EU-15. Farmland values across Europe are sensitive to climate. Even with the adaptation captured by the Ricardian technique, farms in Southern Europe are predicted to suffer sizeable losses (8% -13% per degree Celsius) from warming. In contrast, agriculture in the rest of Europe is likely to see only mixed impacts. Increases (decreases) in rain will increase (decrease) average farm values by 3% per centiliter of precipitation. Aggregate impacts by 2100 vary depending on the climate model scenario from a loss of 8% in a mild scenario to a loss of 44% in a harsh scenario.

Suggested Citation

  • Van Passel, Steven & Massetti, Emanuele & Mendelsohn, Robert, 2012. "A Ricardian Analysis of the Impact of Climate Change on European Agriculture," Climate Change and Sustainable Development 142948, Fondazione Eni Enrico Mattei (FEEM).
    • Handle: RePEc:ags:feemcl:142948
    DOI: 10.22004/ag.econ.142948
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    File URL: https://ageconsearch.umn.edu/record/142948/files/NDL2012-083RevApril2013.pdf
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    Keywords

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    JEL classification:

    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects
    • Q15 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Land Ownership and Tenure; Land Reform; Land Use; Irrigation; Agriculture and Environment

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