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Global warming will increase land prices in Germany

>> Tuesday, September 12, 2006

At least, that is the thesis of a paper written by the two American scientists Orley Ashenfelter and Karl Storchman (Using a Hedonic Model of Solar Radiation to Assess the Economic Effect of Climate Change: The Case of Mosel Valley Vineyards). Their reasoning is that the climatic changes will have a direct impact on the solar radiation and thence the hedonistic appreciation of the wines and land valuations. In other words, warmer weather in Germany will make the German wines better and more expensive (perhaps I am oversimplifying?). As you can guess, it is a scientific paper , 39 pages in all, and you can read it all here. If the full paper is a bit too much for you you can read the article in Forbes Magazine


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