Estimating Ricardian Models with Panel Data

33 Pages Posted: 20 Jul 2011

See all articles by Emanuele Massetti

Emanuele Massetti

Georgia Institute of Technology; CESifo (Center for Economic Studies and Ifo Institute); CMCC - Euro Mediterranean Centre for Climate Change

Robert O. Mendelsohn

Yale University - School of Forestry & Environmental Studies; Yale University

Multiple version iconThere are 2 versions of this paper

Date Written: July 20, 2011

Abstract

Many non-market valuation models, such as the Ricardian model, have been estimated using cross sectional methods with a single year of data. Although multiple years of data should increase the robustness of such methods, repeated cross sections suggest the results are not stable. We argue that repeated cross sections do not properly specify the model. Panel methods that correctly specify the Ricardian model are stable over time. The results suggest that many cross sectional methods including hedonic studies and travel cost studies could be enhanced using panel data.

Keywords: climate change, impacts, agriculture, hedonic models

JEL Classification: Q1, Q12, Q51, Q54

Suggested Citation

Massetti, Emanuele and Mendelsohn, Robert O., Estimating Ricardian Models with Panel Data (July 20, 2011). FEEM Working Paper No. 50.2011. Available at SSRN: https://ssrn.com/abstract=1890393 or http://dx.doi.org/10.2139/ssrn.1890393

Emanuele Massetti (Contact Author)

Georgia Institute of Technology ( email )

685 Cherry St.
Atlanta, GA 30332-0345
United States

CESifo (Center for Economic Studies and Ifo Institute)

Poschinger Str. 5
Munich, DE-81679
Germany

CMCC - Euro Mediterranean Centre for Climate Change

via Augusto Imperatore, 16
Lecce, I-73100
Italy

Robert O. Mendelsohn

Yale University - School of Forestry & Environmental Studies ( email )

195 Prospect Street
New Haven, CT 06511
United States

Yale University ( email )

New Haven, CT 06520
United States
2034325128 (Phone)

Here is the Coronavirus
related research on SSRN

Paper statistics

Downloads
86
Abstract Views
600
rank
255,864
PlumX Metrics