We analyze the role of financial markets in shaping the incentives of government agencies using a unique empirical setting: the weather derivatives market. We show that the introduction of weather derivative contracts on the Chicago Mercantile Exchange improves the accuracy of temperature...

Die Beiträge der vorliegenden Dissertationsschrift untersuchen zum einen, inwieweit Wetterindexversicherungen einen Beitrag zur Stabilisierung von wetterbedingten Einkommensschwankungen in der Landwirtschaft leisten können. In der Landwirtschaft ist trotz bedeutender wetterbedingter...

Weather affects four basic purchasing decisions: what, when, where and in what quantity to buy. Even though retail is not traditionally perceived to be a weather sensitive sector, results of studies show that weather has a significant impact on store traffic and sales of numerous product...

International development organisations, through partnerships with local insurance companies, have been promoting weather index based insurance (WIBI) in developing countries. Due to lower operational costs, they expect shorter pay-off period, often overlooking high initial design costs....

The temperature-based derivatives contracts have appeared while the first deregulations in the utilities and the energy sectors from USA in the years 1990-2000. The transfer of the some services in the private sector has involved a better control of costs and revenues of different companies. The...

Purpose – The application of weather derivatives in hedging crop yield risk is gaining more interest. However, the further development of weather derivatives – particularly exchange-traded – in the agricultural sector has been impeded by concerns over their hedging performance. The purpose...

Concern for risks that stifle investment and contribute to vulnerability of the rural poor is a driving force behind various types of agricultural insurance. Insuring small-scale farmers against crop losses to adverse weather or other hazards has attracted public sector involvement in the...

This paper seeks to examine the empirical association between weather and the Casablanca stock market returns and volatility. We choose stock indexes of three weather-sensitive sectors that account for 40% of Morocco's GDP to test the impact of weather on the Moroccan economy. We use an...