% WARNING: This file may contain UTF-8 (unicode) characters.
% While non-8-bit characters are officially unsupported in BibTeX, you
% can use them with the biber backend of biblatex
%    usepackage[backend=biber]{biblatex}

@techreport{NBERw18659,
 title = "Corn Production Shocks in 2012 and Beyond: Implications for Food Price Volatility",
 author = "Berry, Steven T and Roberts, Michael J and Schlenker, Wolfram",
 institution = "National Bureau of Economic Research",
 type = "Working Paper",
 series = "Working Paper Series",
 number = "18659",
 year = "2012",
 month = "December",
 doi = {10.3386/w18659},
 URL = "http://www.nber.org/papers/w18659",
 abstract = {Corn prices increased sharply in the summer of 2012 due to expected production shortfalls in the United States, which produces roughly 40% of the world's corn. A heat wave in July adversely affected corn production. We extend earlier statistical models of county-level corn yields in the Eastern United States by allowing the effect of various weather measures to vary in a flexible manner over the growing season: Extreme heat is especially harmful around a third into the growing season. This is the time when the 2012 heat wave hit the Corn Belt. Our model predicts 2012 corn yields will be 23% below trend. While extreme heat was significantly above normal, climate change scenarios suggest that the 2012 outcomes will soon be the new normal.},
}