THE IMPACT OF GLOBAL WARMING ON AGRICULTURE - A RICARDIAN ANALYSIS

• 成果类型: Article
• 署名作者: MENDELSOHN, R; NORDHAUS, WD; SHAW, D
• 署名单位: Yale University; Yale University; Academia Sinica - Taiwan
• 刊物名称: AMERICAN ECONOMIC REVIEW
• ISSN/ISSBN: 0002-8282
• 发表日期: 1994
• 页码: 753-771
• 关键词: climate change

摘要

We measure the economic impact of climate on land prices. Using cross-sectional data on climate, farmland prices, and other economic and geophysical data for almost 3,000 counties in the United States, we find that higher temperatures in all seasons except autumn reduce average farm values, while more precipitation outside of autumn increases farm values. Applying the model to a global-warming scenario shows a significantly lower estimated impact of global warming on U.S. agriculture than the traditional production-function approach and, in one case, suggests that, even without CO2 fertilization, global warming may have economic benefits for agriculture.