Adapting to Climate Change Through Tile Drainage: A Structural Ricardian Analysis

Kevin Meyer and David A. Keiser

ISU General Staff Papers from Iowa State University, Department of Economics

Abstract: This paper provides the first estimates of the effects of climate change on agriculture while explicitly modeling tile drainage. We show in a simple conceptual model that the value of precipitation should differ between drained and non-drained land, implying that pooling these lands could bias estimates of the effects of climate change on land values. We test this hypothesis by estimating a Structural Ricardian model for U.S. counties east of the 100th meridian. Consistent with our theoretical model, our estimates show that the value of precipitation is higher on non-drained lands.

Date: 2016-01-01
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Persistent link: https://EconPapers.repec.org/RePEc:isu:genstf:201601010800001015

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