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 …

climates. With respect to long-term climate conditions, one degree of temperature increase reduces output by 2-3%. The effect …We estimate the impacts of climate on economic growth using Gross Regional Product (GRP) for more than 1,500 regions in … 77 countries. In temperate and tropical climates, annual temperature shocks reduce GRP whereas they increase GRP in cold …