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 … variability. The climate effect is larger that the weather effect. …

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 … variability. The climate effect is larger that the weather effect. …

We estimate the impacts of climate on economic growth using Gross Regional Product (GRP) for more than 1,500 regions in … climates. With respect to long-term climate conditions, one degree of temperature increase reduces output by 2-3%. The effect …

observations/year.Results: The evidence reinforced the hypothesis of a positive association between risk and return, both for … predictability of returns, resulting in a spurious negative relationship between risk and return.Implications/Contributions: The … results reinforce the assumptions of modern finance theory, especially the idea of a positive association between risk and …