This study analyzes the social welfare impact of climate change on dried red pepper production in Korea, considering both direct effects on yield and indirect effects through pest and disease (P&D) outbreaks. Three models were used: a P&D damage model, a yield model, and an equilibrium displacement model (EDM). Results show that while rising temperatures increase yields and social welfare, P&D damages significantly offset these gains, leading to substantial social welfare losses. The difference in social welfare between scenarios with and without P&D damage increases over time, highlighting the need for effective pest control and damage prediction.
Publisher
HUMANITIES AND SOCIAL SCIENCES COMMUNICATIONS
Published On
Jul 05, 2023
Authors
Donggeun Han, Donghee Yoo, Taeyoung Kim
Tags
climate change
social welfare
dried red pepper
pest and disease
Korea
agricultural economics
yield model
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