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Increasing weather risk: Fact of fiction?

Author

Listed:
  • Wang, Weining
  • Bobojonov, Ihtiyor
  • Härdle, Wolfgang Karl
  • Odening, Martin

Abstract

It is an undisputed fact that weather risk increases over time due to climate change. However, qualification of this statement with regard to the type of weather risk and geographical location is needed. We investigate the application of novel statistical tools for assessing changes in weather risk over time. We apply local t-test, change point tests and Mann-Kendall test as well as quantile regression to weather risk indicators that are relevant from the viewpoint of agricultural production. Our results show that weather risk follows different pattern depending on the type of risk and the location.

Suggested Citation

  • Wang, Weining & Bobojonov, Ihtiyor & Härdle, Wolfgang Karl & Odening, Martin, 2011. "Increasing weather risk: Fact of fiction?," SFB 649 Discussion Papers 2011-077, Humboldt University Berlin, Collaborative Research Center 649: Economic Risk.
    • Handle: RePEc:zbw:sfb649:sfb649dp2011-077
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    References listed on IDEAS

    as
    1. Härdle, Wolfgang K. & Song, Song, 2010. "Confidence Bands In Quantile Regression," Econometric Theory, Cambridge University Press, vol. 26(4), pages 1180-1200, August.
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    JEL classification:

    • C00 - Mathematical and Quantitative Methods - - General - - - General
    • C14 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Semiparametric and Nonparametric Methods: General
    • J01 - Labor and Demographic Economics - - General - - - Labor Economics: General
    • J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials

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