Can farmers weather climate change?
Jonathan Colmer finds that increases in temperature are associated with a reduction in agricultural production, average wages, and the share of workers engaged in agriculture. However, these changes are accompanied by an increase in workers in the manufacturing sectors, which sees a corresponding increase in manufacturing output. Hence, flexible labour markets and an expanding manufacturing sector can offset the economic losses due to weather-driven changes in the agricultural sector.
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Date Published
Wednesday, March 21, 2018
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