Climate Change Effects on Agricultural Productivity

In a new report authored by Jayson Beckman, Fengxia Dong, Maros Ivanic, Jonas Jägermeyr, and Nelson Villoria, the impact of climate change on agricultural productivity is explored. The study emphasizes the importance of increasing Total Factor Productivity (TFP) to meet global food demand amidst changing climate conditions that affect crop yields. By integrating the latest estimates of climate-induced yield changes for corn, rice, soybeans, and wheat with future TFP projections, the report suggests that enhanced TFP and the necessary research and development could help mitigate potential yield decreases caused by climate change. Key topics include agricultural productivity, TFP, climate change, and trade.