In periods of unusual weather, forecasters face a problem of interpreting economic data: Which part goes back to the … underlying economic trend and which part arises from a special weather effect? In this paper, we discuss ways to disentangle … weather-related from business cycle-related influences on economic indicators. We find a significant influence of weather …

Certainly, economic activity is influenced by weather conditions. In short term economic forecast, normal weather … and do not take into account specific weather conditions such as unusually mild or cold winters. In particular in the … cyclical reasons ore merely reflect specific weather conditions. The paper shows that this uncertainty leads to biased forecast …

Many companies depend on weather conditions, so they require reliable weather forecasts for production planning or risk … hedging. In this article, we propose a new way of gaining weather forecasts by exploiting the forward-looking information … included in the market prices of weather derivatives traded at the Chicago Mercantile Exchange (CME). For this purpose, the CME …