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Autor:innen: 
Erscheinungsjahr: 
2021
Schriftenreihe/Nr.: 
CESifo Working Paper No. 8946
Verlag: 
Center for Economic Studies and Ifo Institute (CESifo), Munich
Zusammenfassung: 
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.
Schlagwörter: 
climate change
weather shocks
economic growth
stochastic frontier analysis
JEL: 
D24
O44
O47
Q54
Dokumentart: 
Working Paper
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