Using Degree Days to Value Farmland

Emanuele Massetti, Robert Mendelsohn and Shun Chonabayashi

No 5148, CESifo Working Paper Series from CESifo

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: degree days; climate change impacts; agriculture; land values (search for similar items in EconPapers)
JEL-codes: Q12 Q24 Q51 Q54 (search for similar items in EconPapers)
Date: 2014
References: View complete reference list from CitEc
Citations: View citations in EconPapers (5)

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Related works:
Working Paper: Using Degree Days to Value Farmland (2015)
Working Paper: Using Degree Days to Value Farmland (2015)
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Persistent link: https://EconPapers.repec.org/RePEc:ces:ceswps:_5148

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