How to link agricultural productivity, water availability and water demand in a risk context: a model for managing hydrological risks
The importance of water scarcity in irrigated agriculture in Spain provides the rationale for this paper, which analyses and evaluates the risk of water shortage on the economic result of this kind of agriculture. The main objective is to monitor this risk on a real-time basis. For this aim, we first estimated a number of regression models that explain irrigated agricultural productivity based on crop price indices, a time trend and water availability. These models, which correct for auto-correlation, yield good explanatory power.