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
Englisch

Erschienen in
Series: CESifo Working Paper ; No. 8946

Klassifikation
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

Dieses Objekt wird bereitgestellt von:
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

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