A growing literature estimates the macroeconomic effect of weather using variations in annual country-level averages of … temperature and precipitation. However, averages may not reveal the effects of extreme events that occur at a higher time … frequency or higher spatial resolution. To address this issue, we rely on global daily weather measurements with a 30-km spatial …

agriculture. With mounting evidence that climate is warming, we show that such warming will have substantial impacts on … unique fine-scale weather data set that incorporates the whole distribution of temperatures between the minimum and maximum …-linear and asymmetric relationship between temperature and yields. Yields increase in temperature until about 29C for corn and …

We examine how the adverse impacts of weather shocks are distributed through the trade network. Exploiting a rich …, theoretically derived, fixed effects structure, we find significant negative short-run effects of high temperature on exports. A … month with an average temperature above 30 °C implies export losses of around three percent. These effects are increasing in …

The weather index-based insurances may help farmers to cope with climate risks overcoming the most common issues of … traditional insurances. However, the weather index-based insurances present the limit of the basis risk: a significant yield loss … may occur although the weather index does not trigger the indemnification, or a compensation may be granted even if there …

This paper finds evidence that stock returns vary with the physical climate change exposure of firms in a predictable … manner. We construct measures of exposures to physical climate changes at the firm level, and find that firms with high … climate change exposures experience lower future profitability. We show that due to limited attention of investors, stock …

risk preference affects, for instance, individuals’ savings and investment behaviour, adoption of self-protection and self …

impacted by an unusually warm climate. In economic terms, a 1°C increase in temperature is associated with a $1.6 million …This study examines the impact of climate change on firm earnings, and how well managers anticipate the impact …. Exploiting regional temperature variation around corporate headquarters, we find that firms' earnings, on average, are negatively …

This paper contributes to insurance risk management by modeling extreme climate risk and extreme mortality risk in an … integrated manner via extreme value theory (EVT). We conduct an empirical study using monthly temperature and death data in the U ….S., and nd that the joint extremes in cold weather and old-age death counts exhibit the strongest level of dependence. Based …

risk preference affects, for instance, individuals' savings and investment behaviour, adoption of self-protection and self …