Who Profits from Global Warming? Producer vs. Retail Prices in

Germany

Karl StorchmannNew York University &

KEDGE Business School Bordeaux

Wholesale and Retail PricesSketch

year

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

0

5

10

15

20

25

30

35

40

wholesaleretail

Marginal Effects

Wine Prices for Mosel, Rheingau and Nahe1994-2001

Retail Prices(Gault Millau Wine Guide, n= 10412) Wholesale Prices

for winery (Wine Fair Mainz, n=1210)

n=1105

Distribution of Wholesale Prices

Distribution of Retail Prices

Marginal Age Effects for Price QuantilesWholesale and Retail Prices

0.05 0.1 0.15 0.2 0.25 0.3 0.35 0.4 0.45 0.5 0.55 0.6 0.65 0.7 0.75 0.8 0.85 0.9 0.95

-0.1

0

0.1

0.2

0.3

0.4

0.5

0.6

age_fairage_gault

Marginal Temperature Effects for Price QuantilesWholesale and Retail Prices

0.05 0.1 0.15 0.2 0.25 0.3 0.35 0.4 0.45 0.5 0.55 0.6 0.65 0.7 0.75 0.8 0.85 0.9 0.950

0.01

0.02

0.03

0.04

0.05

0.06

0.07

0.08

0.09

temp_fairtemp_gault

Marginal Effects of Temperature and Age on Retail Margins

0.05 0.1 0.15 0.2 0.25 0.3 0.35 0.4 0.45 0.5 0.55 0.6 0.65 0.7 0.75 0.8 0.85 0.9 0.95

-0.1

0

0.1

0.2

0.3

0.4

0.5

0.6

0.7

age_difftemp_diff

Marginal Impact of Growing Season Temperatures on Percentage Retail Margins

by Price Quantile

0.05

0.10

0.15

0.20

0.25

0.30

0.35

0.40

0.45

0.50

0.55

0.60

0.65

0.70

0.75

0.80

0.85

0.90

0.95

-2

-1

0

1

2

3

4

5

6

7

cool vintagewarm vintage