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Introduction to estimates of climate change impacts

Introduction to estimates of climate change impacts. Emanuele Massetti FEEM and CMCC Capacity Building Programme on the Economics of Adaptation 2 nd Regional Training Workshop Agenda Bangkok, 30 September – 4 October. Outline. Brief introduction to the Ricardian Method

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Introduction to estimates of climate change impacts

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  1. Introduction to estimates of climate change impacts Emanuele Massetti FEEM and CMCC Capacity Building Programme on the Economics of Adaptation 2nd Regional Training Workshop Agenda Bangkok, 30 September – 4 October

  2. Outline • Brief introduction to the Ricardian Method • Hands-on with Excel • Data Example • Functional forms • Marginal impacts • Absolute impacts • Sums across total farmland • Sums across

  3. Ricardian method • Land values reflect present and future (expected) productivity of land • Analysis of data on agricultural land values and climate • Data from a “cross-section” with different land values and different climate • Estimates of the value of climate used to infer the impact of climate change

  4. Land value and climate Value of Land Climate Variable Source: Mendelsohn, Nordhaus and Shaw (AER, 1994)

  5. Example: data Assumption: one hectare of land for each farmer

  6. Functional forms

  7. Marginal value of temperature

  8. Impact of +2°C

  9. Impact of +2°C with different farmland

  10. Impact of local temp. change

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