Content by Luigi Pistaferri
Climate change has generated much attention. Upward trends in average temperature are well documented facts. While somewhat less attention has been devoted to the impact of the increase in climate volatility on behavior is relatively less studied. In standard models with uncertainty or risk, precautionary behavior, and lack of formal insurance, agents self-insure by...
Publication - Working Paper
Publication - Policy Brief
Whilst climate change undoubtedly affects average temperatures, less attention has been paid to weather volatility and the effect of this on the behaviour of farmers. Changes in the volatility of weather is a fundamental input of the agricultural production function. In standard models, agents self-insure by building up assets or engaging in behaviour designed to...