A Ricardian Analysis of the Impact of Climate Change on European Agriculture

Steven Van Passel, Emanuele Massetti and Robert Mendelsohn
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Steven Van Passel: Hasselt University, Faculty of Business Economics, Centre for Environmental Sciences, Agoralaan, Yale University, School of Forestry and Environmental Studies

No 2012.83, Working Papers from Fondazione Eni Enrico Mattei

Abstract: This research estimates the impact of climate on European agriculture using a continental scale Ricardian analysis. Data on climate, soil, geography and regional socio-economic characteristics were matched for 37 612 individual farms across the EU-15. Farmland values across Europe are sensitive to climate. Even with the adaptation captured by the Ricardian technique, farms in Southern Europe are predicted to suffer sizeable losses (8% -13% per degree Celsius) from warming. In contrast, agriculture in the rest of Europe is likely to see only mixed impacts. Increases (decreases) in rain will increase (decrease) average farm values by 3% per centiliter of precipitation. Aggregate impacts by 2100 vary depending on the climate model scenario from a loss of 8% in a mild scenario to a loss of 44% in a harsh scenario.

Keywords: Ricardian Analysis; Climate Change; European Agriculture; Climate Change Economics (search for similar items in EconPapers)
JEL-codes: Q15 Q51 Q54 (search for similar items in EconPapers)
Date: 2012-11
New Economics Papers: this item is included in nep-agr, nep-ene, nep-env and nep-res
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (8)

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Related works:
Journal Article: A Ricardian Analysis of the Impact of Climate Change on European Agriculture (2017)
Working Paper: A Ricardian Analysis of the Impact of Climate Change on European Agriculture (2014)
Working Paper: A Ricardian Analysis of the Impact of Climate Change on European Agriculture (2012)
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Persistent link: https://EconPapers.repec.org/RePEc:fem:femwpa:2012.83

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