Estimating the Consequences of Climate Change from Variation in Weather / Derek Lemoine.

Format:

Book

Author/Creator:

Lemoine, Derek.

Contributor:

National Bureau of Economic Research.

Series:

Working Paper Series (National Bureau of Economic Research) no. w25008.

NBER working paper series no. w25008

Language:

English

Physical Description:

1 online resource: illustrations (black and white);

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 2018.

Summary:

I formally relate the consequences of climate change to the panel variation in weather extensively explored by recent empirical literature. I show that short-run responses to weather shocks differ from long-run responses to climate change when payoffs depend on a capital or resource stock. I develop a new indirect least squares estimator that bounds long-run climate impacts from short-run responses to weather. Applying this new method, I find that an additional 2°C of global warming would eliminate profits from the average acre of current farmland in the eastern U.S.

Notes:

Print version record

September 2018.