The optimal investment to mitigate climate change crucially depends on the discount rate used to evaluate the … investment's uncertain future benefits. The appropriate discount rate is a function of the horizon over which these benefits … accrue and the riskiness of the investment. In this paper, we estimate the term structure of discount rates for an important …

heat reduces non-agricultural productivity, but less so than in agriculture, implying that hot countries could adapt to … perversely pulls labor into agriculture where its productivity suffers most and reallocation exacerbates the global decline in …

agriculture. It does so by bridging the extensive literature on climate impacts on yields and physical productivity in global crop …

A popular approach for estimating climate change impacts on agriculture is to rely on supply-side reduced …

This paper highlights the role of agriculture in the American economy and society over time and points to farmer …

investment changes meaningfully alter ex post outcomes. In contrast, insurance, which provides no information, increases …

agricultural yields and low food prices. Critical to this success has been sustained public sector investment combined with a … decentralized and competitive research system in the US. Recent intellectual property reforms motivated increased private investment …. For new technologies, the case of agriculture demonstrates that government has an important role in antitrust, the …