Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/181346
Authors: 
Felbermayr, Gabriel
Gröschl, Jasmin Katrin
Sanders, Mark
Schippers, Vincent
Steinwachs, Thomas
Year of Publication: 
2018
Series/Report no.: 
CESifo Working Paper 7146
Abstract: 
Climate research suggests that global warming will lead to more frequent and more extreme natural disasters. Most disasters are local events with effects on local economic activity. Hence, assessing their economic impacts with the help of econometric country-level analysis may lead to biased results. Moreover, correct identification is further complicated by the possibility that local shocks shift production and consumption to neighboring locations. In this paper, annual night-time light emission data covering about 24,000 grid cells for the years 1992-2013 are matched to geocoded information on meteorological and geological events. Spatial econometric panel methods are applied to account for interdependencies between locations. Interpreting variation in light emissions as reflecting changes in economic activity, findings convey evidence for pronounced local average treatment effects and strong spatial spillovers, particularly for weather shocks. Moreover, substantial heterogeneity across income groups and regions is identified.
Subjects: 
natural disaster and weather shocks
night-time light emission
spatial spillovers
grid cell analysis
JEL: 
F15
O18
O44
Q54
R12
Document Type: 
Working Paper

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