Increasing weather risk: Fact of fiction?

Weining Wang, Ihtiyor Bobojonov, Wolfgang Härdle and Martin Odening

No 2011-077, SFB 649 Discussion Papers from Humboldt University Berlin, Collaborative Research Center 649: Economic Risk

Abstract: It is an undisputed fact that weather risk increases over time due to climate change. However, qualification of this statement with regard to the type of weather risk and geographical location is needed. We investigate the application of novel statistical tools for assessing changes in weather risk over time. We apply local t-test, change point tests and Mann-Kendall test as well as quantile regression to weather risk indicators that are relevant from the viewpoint of agricultural production. Our results show that weather risk follows different pattern depending on the type of risk and the location.

Keywords: weather extremes; agricultural risk; change point test; quantile regressions (search for similar items in EconPapers)
JEL-codes: C00 C14 J01 J31 (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:sfb649:sfb649dp2011-077

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