Using Degree Days to Value Farmland

Emanuele Massetti, Robert Mendelsohn and Shun Chonabayashi

No 198711, Climate Change and Sustainable Development from Fondazione Eni Enrico Mattei (FEEM)

Abstract: Farmland values have traditionally been valued using seasonal temperature and precipitation. A new strand of the literature uses degree days over the growing season to predict farmland value. We find that degree days and daily temperature are interchangeable over the growing season. However, the way that degree days are used in these recent studies is problematic and leads to biased and inaccurate results. These new findings have serious implications for any study that copies this methodology.

Keywords: Agricultural Finance; Environmental Economics and Policy (search for similar items in EconPapers)
Pages: 51
Date: 2015-02-23
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https://ageconsearch.umn.edu/record/198711/files/NDL2015-012.pdf (application/pdf)

Related works:
Working Paper: Using Degree Days to Value Farmland (2015)
Working Paper: Using Degree Days to Value Farmland (2014)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:feemcl:198711

DOI: 10.22004/ag.econ.198711

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