EEP101.Section11Anna.S11 - Climate Change

EEP101.Section11Anna.S11 - Climate Change - Section Note

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April 18 th , 2011 Environmental Economics Section 11 — Climate Change, Water Climate Change Climate change impacts on agriculture: Movement of warm climate from tropics to poles changes land productivity; Increased snow melt, flooding and changes in timing and volume of irrigation water; Adaptation to the changing climate: Farmers change input use, crops and irrigation; Agriculture is abandoned in some areas, while it begins in others. Other impacts on agriculture: Fertilization due to increased carbon in the atmosphere; More crops closer to the poles will reduce their exposure to daylight and hence their yield; Pests will move towards poles and attack new regions; Lower protein content due to increased carbon in atmosphere. Methods for modeling climate change impact: Hedonic price (Richardian) models: Impact will be reflected in asset values (i.e. all else being equal, the difference in value between a warn place and a cold one can be attributed to climate). Agro-economic models: Used agronomic estimates evaluate impact on yield and cost to simulate land use output and prices. Stochastic simulations: Consider impacts of changes in mean and variability of yield, profits and land use. Regional case studies: Combines quantitative estimates with expert interviews. Problems of current impact models: Current prices and values (rents) reflect current market conditions and hide regional disparities; Models ignore or underemphasize: Pests; Fertilization; Transition costs; Regional effects. Adjustment costs and uncertainty: An important hurdle to the mitigation of or adaptation to climate change is the uncertainty surrounding the timing and magnitude of its consequences; Adjustments costs and regulations can slow down our ability to respond to climate change. Economics of climate change:
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This note was uploaded on 06/06/2011 for the course ECON 125 taught by Professor Zilberman during the Spring '11 term at Berkeley.

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EEP101.Section11Anna.S11 - Climate Change - Section Note

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