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Climate change

2016

Agriculture

Economics Presentations, Posters and Proceedings

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Full-Text Articles in Life Sciences

Adapting To Climate Change Through Tile Drainage: A Structural Ricardian Analysis, Kevin Meyer, David A. Keiser Jan 2016

Adapting To Climate Change Through Tile Drainage: A Structural Ricardian Analysis, Kevin Meyer, David A. Keiser

Economics Presentations, Posters and Proceedings

This paper provides the first estimates of the effects of climate change on agriculture while explicitly modeling tile drainage. We show in a simple conceptual model that the value of precipitation should differ between drained and non-drained land, implying that pooling these lands could bias estimates of the effects of climate change on land values. We test this hypothesis by estimating a Structural Ricardian model for U.S. counties east of the 100th meridian. Consistent with our theoretical model, our estimates show that the value of precipitation is higher on non-drained lands.