Ricardian (hedonic) analyses of the impact of climate change on farmland values typically assume additively separable effects of temperature and precipitation. Model estimation is implemented on data aggregated across counties or large regions. We investigate the potential bias induced by such...

Climate variability is one of the main environmental causes of losses to the agricultural sector. Most of the methodological tools applied to estimate its economic cost usually account only for the direct impact on agricultural activity. In this paper we use an alternative approach in which a...