This paper develops a "Ricardian" approach for measuring the economic impact of environmental factors such as climate by examining the direct impact of the environmental factor on land prices. Estimating the model using cross-sectional data on climate, farm-land prices, and other economic and...

Because of the potential for global warming, there are widespread concerns about the impact of changing climate upon the productivity of land in farming and other sectors. This paper develops a new approach for measuring the economic impact of environmental factors such as climate on production...