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The Impact of Climate Change Debate on Agricultural Commodity Markets

Author

Listed:
  • Julen Galindez
  • Federico Platania
  • Celina Toscano Hernandez

Abstract

This paper studies the economic impact of climate change debate on agricultural markets, more precisely, it determines how and when public attention toward ?climate change? and ?global warming? affects soybean futures prices. Implementing a wavelet coherence analysis, we identify periods of high coherence and analyze the relationship between public attention and both extreme weather events and climate pattern variations. Furthermore, we study the relationship between public attention and unexpected variations in soybean commodity prices, and we analyze the impact of certain attention-grabbing events. Our results suggest that public attention has a significant and transversal impact on soybean futures prices. JEL Codes: Q02, Q14, Q54.

Suggested Citation

  • Julen Galindez & Federico Platania & Celina Toscano Hernandez, 2023. "The Impact of Climate Change Debate on Agricultural Commodity Markets," Revue économique, Presses de Sciences-Po, vol. 74(6), pages 953-998.
    • Handle: RePEc:cai:recosp:reco_746_0953
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    More about this item

    Keywords

    soybean; public attention; Twitter; climate change; global warming; wavelet;
    All these keywords.

    JEL classification:

    • Q02 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Commodity Market
    • Q14 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Finance
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming

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