Arbeitspapier
The Economic Impact of Weather and Climate
I propose a new conceptual framework to disentangle the impacts of weather and climate on economic activity and growth: A stochastic frontier model with climate in the production frontier and weather shocks as a source of inefficiency. I test it on a sample of 160 countries over the period 1950-2014. Temperature and rainfall determine production possibilities in both rich and poor countries; positively in cold countries and negatively in hot ones. Weather anomalies reduce inefficiency in rich countries but increase inefficiency in poor and hot countries; and more so in countries with low weather variability. The climate effect is larger that the weather effect.
- Sprache
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Englisch
- Erschienen in
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Series: CESifo Working Paper ; No. 8946
- Klassifikation
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Wirtschaft
Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
Environment and Growth
Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
Climate; Natural Disasters and Their Management; Global Warming
- Thema
-
climate change
weather shocks
economic growth
stochastic frontier analysis
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Tol, Richard S. J.
- Ereignis
-
Veröffentlichung
- (wer)
-
Center for Economic Studies and Ifo Institute (CESifo)
- (wo)
-
Munich
- (wann)
-
2021
- Handle
- Letzte Aktualisierung
-
20.09.2024, 08:22 MESZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Tol, Richard S. J.
- Center for Economic Studies and Ifo Institute (CESifo)
Entstanden
- 2021