Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/185484
Authors: 
Massetti, Emanuele
Van Passel, Steven
Apablaza, Camila
Year of Publication: 
2018
Series/Report no.: 
CESifo Working Paper No. 7286
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.
Subjects: 
agriculture
climate change
extreme temperature
Ricardian
threshold
Europe
JEL: 
Q12
Q21
Q51
Q54
Document Type: 
Working Paper

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