ARE at AAEA: Matthew Gammans: Climate econometrics: Can the panel approach account for long-run adaptation?
July 31, 2018
Time: 1 p.m. Tuesday, Aug. 7
Location: Washington Room 4 / Research Methods in Resource, Climate Change, and Agricultural Policies
While the panel data approach with fixed effects and nonlinear weather effects has become a popular method to uncover weather impacts on economic outcomes, its ability to capture long-run climatic adaptation remains unclear. We identify a framework wherein the estimated weather-outcome relationship can be conveniently written as a convex combination of underlying short-run and long-run responses. For spatially large panels, the estimated temperature-outcome relationship largely reflects the long-run response. We then propose an estimation strategy that allows for simultaneous estimation of short- and long-run responses and provide evidence of climatic adaptation in US and French agriculture.
*This is information about one of the 17 people from ARE with a presentation at the 2018 AAEA Annual Meeting Aug. 5–7 in Washington, D.C.
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