Does Climate Variability Affect the Financial Sustainability of Farmers in Florida? A Causality Analysis
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The purpose of this research is to present a framework to analyze if there is any statistical correlation between climate variability and commodity prices in Northern Florida, and whether real causality effect exists. This assessment is significant because it aids to strengthen North Floridian farmers’ awareness as well as preparing them for possible fluctuations in their commodities’ by analyzing the correlation between the El Nino Southern Oscillation (ENSO) and commodity prices. Because the study will be based on the assumption that a correlation between ENSO and commodity prices exists in Northern Florida; both linear and logarithm models, as well as econometric equations will be used to measure the hypothesis. These models fulfils a crucial role in evaluating the policy implications of climate change and how its effects can be mitigated.