Average Ricardian Impacts under the SSP2.4-5 2041–2070 Climate Scenario ($/Acre)
| Census Division Fixed Effects | Provincial Fixed Effects | Base | ||||
|---|---|---|---|---|---|---|
| (1) | (2) | (3) | (4) | (5) | (6) | |
| Per-acre price (Can$) | 9,532 | 9,532 | 9,526 | 9,526 | 9,526 | 9,526 |
| Predicted per-acre price (%) | 9,884 | 9,906 | 10,016 | 9,997 | 10,255 | 10,306 |
| 95% confidence interval (Can$) | (9,627, 10,142) | (9,646, 10,166) | (9,725, 10,307) | (9,711, 10,283) | (9,945, 10,565) | (9,993, 10,620) |
| Predicted future price (Can$) | 15,160 | 15,607 | 13,039 | 13,538 | 17,413 | 17,843 |
| 95% confidence interval (Can$) | (14,851, 15,469) | (15,283, 15,931) | (12,840, 13,238) | (13,282, 13,793) | (17,124, 17,703) | (17,490, 18,197) |
| Per-acre change (2041–2070) (Can$) | 5,276 | 5,701 | 3,023 | 3,541 | 7,159 | 7,537 |
| Annualized impacts (5%) (Can$) | 264 | 285 | 151 | 177 | 358 | 377 |
| % change | 53 | 58 | 30 | 35 | 70 | 73 |
| Proximity variable | Yes | Yes | Yes | |||
Note: Impacts are in 2017 Canadian dollars (Statistics Canada 2023c), and 95% confidence intervals from 1,000 bootstrap replications are in parentheses. All models include census subdivision and soil controls; only pooled models include year fixed effects. Models 1 and 2 omit observations in census divisions with fewer than 10 observations.