| A SIGNIFICANTLY REVISED/UPDATED AND EDITED VERSION OF THIS PAPER WAS PUBLISHED AS: Citation: Miao, Ruiqing, Madhu Khanna and Haixiao Huang. “Responsiveness of Crop Yield and Acreage to Prices and Climate.” American Journal of Agricultural Economics (2015) doi: 10.1093/ajae/aav025 Abstract: We investigate the effect of crop price and climate variables on rainfed corn and soybean yields and acreage in the United States using a large panel dataset for the 1977–2007 period. Instrumental variables are used to control for endogeneity of prices in yield and acreage regressions, while allowing for spatially auto-correlated errors. We find that an increase in corn price has a statistically significant positive impact on corn yield, but the effect of soybean... |
