Climate Change as an Agricultural Economics Research Topic

Climate change is not just a topic for the future-it is already producing real consequences. Economically, the issue has three principal dimensions: impacts, that is, how vulnerable are we; adaptation, that is, what can we do to reduce the impacts by altering operations; and mitigation, that is, what can we do to reduce the drivers causing climate change and thus the long-term extent of climate change? All of these issues have economic dimensions, including appraising damages and the value of effects reducing actions, as well as the formulation of efficient policies. Thus, it is not surprising that this is both an active agricultural economic research area and one with many more research possibilities. We review the impacts, adaptation, and mitigation literature, identifying issues, summarizing main findings, commenting on methods, and pointing out research needs, with a special focus on what agricultural/applied economists have to offer.