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In this paper, a new form of weather derivative contract, namely the climatic zone-based growth degree-day (GDD … reduce the model dimension of multi-regional temperature-based weather derivatives pricing. Since the proposed contract … of temperature-based weather contracts are maintained within a certain range. …
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agriculture is likely to be smooth. …
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that rainfall variability induces the reallocation of labor supply: (i) out of agriculture to unemployment, (ii) from …
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