Increasing Weather Risk: Fact or Fiction?

17 Pages Posted: 8 Jan 2017

See all articles by Weining Wang

Weining Wang

Humboldt University of Berlin

Ihtiyor Bobojonov

Humboldt University of Berlin - Department of Agricultural Economics and Social Sciences

Wolfgang K. Härdle

Humboldt University of Berlin - Institute for Statistics and Econometrics; Xiamen University - Wang Yanan Institute for Studies in Economics (WISE); Charles University; Humboldt University of Berlin - Center for Applied Statistics and Economics (CASE)

Martin Odening

Humboldt University of Berlin

Date Written: November 10, 2012

Abstract

It is an undisputed fact that weather risk increases over time due to climate change. However, qualification of this statement with regard to the type of weather risk and geographical location is needed. We investigate the application of novel statistical tools for assessing changes in weather risk over time. We apply local t-test, change point tests and Mann-Kendall test as well as quantile regression to weather risk indicators that are relevant from the viewpoint of agricultural production. Our results show that weather risk follows different pattern depending on the type of risk and the location.

Keywords: weather extremes, agricultural risk, change point test, quantile regressions

JEL Classification: C00, C14, J01, J31

Suggested Citation

Wang, Weining and Bobojonov, Ihtiyor and Härdle, Wolfgang K. and Odening, Martin, Increasing Weather Risk: Fact or Fiction? (November 10, 2012). Available at SSRN: https://ssrn.com/abstract=2894225 or http://dx.doi.org/10.2139/ssrn.2894225

Weining Wang

Humboldt University of Berlin ( email )

Unter den Linden 6
Berlin, AK Berlin 10099
Germany

Ihtiyor Bobojonov

Humboldt University of Berlin - Department of Agricultural Economics and Social Sciences

Berlin, D-10099
Germany

Wolfgang K. Härdle (Contact Author)

Humboldt University of Berlin - Institute for Statistics and Econometrics ( email )

Unter den Linden 6
Berlin, D-10099
Germany

Xiamen University - Wang Yanan Institute for Studies in Economics (WISE) ( email )

A 307, Economics Building
Xiamen, Fujian 10246
China

Charles University ( email )

Celetná 13
Dept Math Physics
Praha 1, 116 36
Czech Republic

Humboldt University of Berlin - Center for Applied Statistics and Economics (CASE)

Unter den Linden 6
Berlin, D-10099
Germany

Martin Odening

Humboldt University of Berlin ( email )

Unter den Linden 6
Berlin, AK Berlin 10099
Germany

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