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While various empirical studies have found negative growth-effects of natural disasters, little is yet known about the microeconomic channels through which disasters might affect short- and especially long-term growth. This paper contributes to filling this gap in the literature by studying how...
Persistent link: https://www.econbiz.de/10010518804
Does trade openness cause higher GDP per capita? Since the seminal instrumental variables (IV) estimates of Frankel and Romer [F&R](1999) important doubts have surfaced. Is the correlation spurious and driven by omitted geographical and institutional variables? In this paper, we generalize F&R's...
Persistent link: https://www.econbiz.de/10009240715
While the short-term growth consequences of natural disasters are comparatively well studied, there is little knowledge how disasters affect long-run growth. Based on truly exogenous storm indicators, derived from a meteorological database, we show that the growth effects of tropical storms go...
Persistent link: https://www.econbiz.de/10011521860
The ongoing process of climate change goes along with a higher frequency and/or severity of droughts. While the short-term growth consequences of droughts are comparatively well examined, little research has yet been devoted to the question whether and how droughts affect medium and long-term...
Persistent link: https://www.econbiz.de/10011384506
literature does not offer conclusive evidence. Most existing studies use disaster data drawn from damage records of insurance … GDP. We build a comprehensive database of disaster events and their intensities from primary geophysical and … effect of disasters on growth. The worst 5% disaster years come with a growth damage of at least 0.45 percentage points. That …
Persistent link: https://www.econbiz.de/10010199740
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...
Persistent link: https://www.econbiz.de/10012806494
We study the long-term impact of climate change on economic activity across countries, using a stochastic growth model where labour productivity is affected by country-specific climate variables. defined as deviations of temperature and precipitation from their historical norms. Using a panel...
Persistent link: https://www.econbiz.de/10012031151
We utilize the individual-level World War I Draft Registration Cards matched to late-nineteenth century hurricane paths and the 1940 U.S. Census to explore whether fetal and early childhood exposure to stress caused by hurricanes affects human capital development and labor market outcomes in...
Persistent link: https://www.econbiz.de/10011565659
Climate physics predicts that the intensity of natural disasters will increase in the future due to climate change. We present a stochastic model of a growing economy where natural disasters are multiple and random, with damages driven by the economy's polluting activity. We provide a...
Persistent link: https://www.econbiz.de/10010438060
negligible if the country affected by a disaster is small but sizable for large economies. Similar disasters have heterogeneous …
Persistent link: https://www.econbiz.de/10012392193