Is Western European Agriculture Resilient to High Temperatures?

Emanuele Massetti, Steven Van Passel and Camila Apablaza

No 7286, CESifo Working Paper Series from CESifo

Abstract: We estimate a Ricardian model of Western European agricultural land values using farm-level data. We model the effect of temperature on land values using a flexible specification of daily mean temperature to test if there are temperature threshold effects. Results indicate that there are no temperature thresholds beyond which agricultural land values suddenly drop. The results are robust to alternative model specifications. Adaptation explains why a smooth aggregate response function is compatible with sharply non-linear crop yield functions. With adaptation, the effect of warming on Western European agriculture is likely to be smooth.

Keywords: agriculture; climate change; extreme temperature; Ricardian; threshold; Europe (search for similar items in EconPapers)
JEL-codes: Q12 Q21 Q51 Q54 (search for similar items in EconPapers)
Date: 2018
New Economics Papers: this item is included in nep-agr and nep-env
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:ces:ceswps:_7286

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