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| Best, Peter; Stone, Roger; Sosenko, Olena. |
| Global and hemispheric climate indicators have proved useful in many countries for characterising intra- and inter-annual variability in climate processes, agricultural output and biomass production. They also form the basis of successful seasonal climate and production prediction systems for the probability distributions of allied parameters such as rainfall or crop yield. Climate risk management via derivative, insurance or bond instruments has only recently incorporated non-local climate parameters such as "teleconnection" indices in payoff functions and overall design. A feasibility study of using the Southern Oscillation Index in weather derivatives for the Australian wheat industry has suggested several such climate-anomaly indicators as suitable... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Weather derivatives; SOI; Wheat yield; Australian case studies; Climate adaptation; Agribusiness; Risk and Uncertainty. |
| Ano: 2007 |
URL: http://purl.umn.edu/9257 |
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| Letson, David; McCullough, B.D.. |
| In this paper we seek to characterize the robustness of the ENSO/soybean price relationship and to determine whether it has practical economic content. If such a meaningful relationship exists, the implications could be profound for commodity traders and for public sector investments in climate forecasting capabilities. Also, the validity of economic evaluations of climate impacts and climate forecasts based on ENSO-price independence would come into question. Our findings suggest a relationship between interannual climate and soybean prices, although we are not able to attribute the relationship to ENSO or to say the ENSO is economically important. |
| Tipo: Journal Article |
Palavras-chave: Climate forecasting; Granger causality; Spectral analysis; SOI; SST; Resource /Energy Economics and Policy; C22; Q11. |
| Ano: 2001 |
URL: http://purl.umn.edu/15443 |
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