Food Policy in a Warming World

• 成果类型: Article
• 署名作者: Hsiao, Allan; Moscona, Jacob; Sastry, Karthik A.
• 署名单位: Stanford University; Massachusetts Institute of Technology (MIT); Princeton University
• 刊物名称: ECONOMETRICA
• ISSN/ISSBN: 0012-9682
• DOI: 10.3982/ECTA23125
• 发表日期: 2026
• 关键词: climate-change; political-economy; agriculture; cycles; PROTECTION; IMPACT

摘要

This paper studies how governments intervene in agricultural markets to reshape the economic consequences of climate extremes. We construct a global dataset of agricultural policies and extreme heat exposure by country and crop since 1980. Extreme heat shocks to domestic production lead to policies that assist consumers by lowering domestic food prices. This effect is persistent, primarily implemented via border policies, and stronger during election years. Shocks to foreign production induce the opposite response: policies that assist producers by raising prices. These findings can be rationalized by a model in which governments use agricultural policy to redistribute among domestic interest groups. Our estimates imply that policy responses shield domestic consumers, while exacerbating losses for domestic producers and foreign consumers. Policy responses have regressive consequences globally, disproportionately harming poor and heat-exposed countries.