Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/252059 
Year of Publication: 
2022
Series/Report no.: 
CESifo Working Paper No. 9542
Publisher: 
Center for Economic Studies and ifo Institute (CESifo), Munich
Abstract: 
We investigate the long-term macroeconomic effects of climate change across 48 U.S. states over the period 1963.2016 using a novel econometric strategy which links deviations of temperature and precipitation (weather) from their long-term moving-average historical norms (climate) to various state-specific economic performance indicators at the aggregate and sectoral levels. We show that climate change has a long-lasting adverse impact on real output in various states and economic sectors, and on labour productivity and employment in the United States. Moreover, in contrast to most cross-country results, our within U.S. estimates tend to be asymmetrical with respect to deviations of climate variables (including precipitation) from their historical norms.
Subjects: 
climate change
economic growth
adaptation
United States
JEL: 
C33
O40
O44
O51
Q51
Q54
Document Type: 
Working Paper
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