How Well Do Degree Days over the Growing Season Capture the Effect of Climate on Farmland Values?

Totally new draft of paper on degree days:

This paper presents an analytical framework to study the economics of adaptation to climate change, reviews the alternative methodologies that have been used to measure adaptation, and briefly summarizes the empirical results. The paper concludes with some general guidance for policy makers on climate adaptation and with some observations of promising areas for additional research.

Massetti, E., R. Mendelsohn and S. Chonabayashi. 2015. "How Well Do Degree Days over the Growing Season Capture the Effect of Climate on Farmland Values?"