How does temperature affect land values in the US?
Emanuele Massetti, FEEM senior researcher, presents recent work jointly undertaken with Cornell and Yale colleagues. In this paper, they test three functional forms that relate land values and temperatures in a Ricardian model of US agriculture for the East of the US. Main results indicate that warming is significantly harmful for agriculture in this region, while seasons, within and outside the growing season, significantly affect land values and allow separating beneficial and harmful effects of warming more effectively.
Fondazione Eni Enrico Mattei