In this paper, we exploit exogenous variation in navigability of the Rhine river to analyze the impact of weather … weather events for business cycle analysis and contributes to gauging the costs of extreme weather events in advanced … economies. Furthermore, we provide a specific example for an idiosyncratic supply shock to a small sector that amplifies to an …

unfavorable harvest shocks in other regions of the world significantly curtail domestic economic activity. The effects are much … smaller when income per capita is higher. Overall, our findings imply that the consequences of climate change on advanced …