Deschenes, Olivier; Greenstone, Michael - National Bureau of Economic Research (NBER) - 2004
This paper measures the economic impact of climate change on US agricultural land. We replicate the previous literature …'s implementation of the hedonic approach and find that it produces estimates of the effect of climate change that are very sensitive to … be unreliable in this setting. In light of the potential importance of climate change, this paper proposes a new strategy …