Lee, Jaehyuk; Nadolnyak, Denis A. - Agricultural and Applied Economics Association - AAEA - 2012
the 48 contiguous States. For climate measure, growing season drought indices (the Palmer Drought Severity Index (PDSI …. The estimates indicate that one unit increase in PDSI (CMI) leads to 5.5% (13.9%), 4% (9%), and 5% (14%) increase in farm … indices (PDSI and CMI) are used for estimating the impact of weather on farm profits while temperature, precipitation, and …