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

Kevin Meyer and David A. Keiser

No 235932, 2016 Annual Meeting, July 31-August 2, Boston, Massachusetts from Agricultural and Applied Economics Association

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.

Keywords: Agricultural and Food Policy; Environmental Economics and Policy; Land Economics/Use (search for similar items in EconPapers)
Pages: 24
Date: 2016
New Economics Papers: this item is included in nep-agr and nep-env
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea16:235932

DOI: 10.22004/ag.econ.235932

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