2003; Deschênes et al. 2011; Lobell et al. 2011; Schlenker et al. 2006; Schlenker et al. 2008). These studies estimated the relationship between weather conditions and agricultural yields by incorporating economic variables with different levels of data disaggregation. They came to conflicting conclusions about the impact of climate change on agricultural yields. For example, Welch et al. (2010) incorporated climatic and economic variables, such as crop and input prices, to isolate the effects of temperature on rice yields in tropical/subtropical Asia. The results showed that rice yields are sensitive to changes in minimum and maximum temperatures during the growing season. McCarl et al. (2008) found that a change in precipitation has no significant impact on corn and soybean yields, which is in contrast to the findings of Deschênes and Greenstone (2007) that increased precipitation is beneficial for corn and soybean