American Economic Review
ISSN 0002-8282 (Print) | ISSN 1944-7981 (Online)
Climate, Grapevine Phenology, Wine Production, and Prices: Pauillac (1800-2009)
American Economic Review
vol. 101,
no. 3, May 2011
(pp. 142–46)
Abstract
This paper analyzes 19th and 20th century data from a well-known château in Bordeaux. The dataset includes information on weather conditions, starting dates of three phenological stages of grapevine, prices, and yields. We discuss how these variables have evolved over the last two centuries. We also study to what extent the impact of climate on yields and prices has changed over time. Our regression analysis suggests that the effect of temperature on yields has become weaker since the 19th century. The influence on prices has, on the contrary, become stronger.Citation
Chevet, Jean-Michel, Sébastien Lecocq, and Michael Visser. 2011. "Climate, Grapevine Phenology, Wine Production, and Prices: Pauillac (1800-2009)." American Economic Review 101 (3): 142–46. DOI: 10.1257/aer.101.3.142Additional Materials
JEL Classification
- L11 Production, Pricing, and Market Structure; Size Distribution of Firms
- L66 Food; Beverages; Cosmetics; Tobacco; Wine and Spirits
- N53 Economic History: Agriculture, Natural Resources, Environment, and Extractive Industries: Europe: Pre-1913
- N54 Economic History: Agriculture, Natural Resources, Environment, and Extractive Industries: Europe: 1913-
- Q13 Agricultural Markets and Marketing; Cooperatives; Agribusiness