The Agricultural Value of Information on the North Atlantic Oscillation: Yield and Economic Effects

Document Type

Article

Journal/Book Title/Conference

Climate Change

Volume

71

Issue

2012-01-02

Publication Date

2005

First Page

117

Last Page

139

Abstract

The North Atlantic oscillation is associated with altered climatic conditions in the United States and Europe. Climate in key agricultural areas is affected. A historically based statistical analysis of crop yield finds that the NAO effect on yields is basically as large as the crop yield implications from the El Niño/Southern oscillation phenomena. In turn an estimate of the potential welfare gains that could be achieved through early NAO phase announcements and subsequent crop mix, storage and consumption adjustments ranges from 600 million to 1.2 billion dollars a year.

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