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25 février 2021
- 2102.13110
Mots-clés
Economics - General EconomicsSujets proches
Science of climate Climate Climate scienceCiter ce document
Richard S. J. Tol, « The economic impact of weather and climate », arXiv - économie
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Résumé
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.