We study the impact of climate volatility on economic growth exploiting data on 133 countries between 1960 and 2005. We show that the conditional (ex ante) volatility of annual temperatures increased steadily over time, rendering climate conditions less predictable across countries, with...

The role of climate change on economic performance and output has been studied extensively in the empirical literature, however, its distributional effects have received little attention. This paper attempts to fill this gap by investigating whether climate shocks affect income inequality in a...

Global efforts towards mitigating climate change gain momentum; reducing carbon dioxide (CO2) emissions and aiming for zero emissions, or carbon neutrality, is the main goal. Economic factors are main determinants of CO2 emissions coming from production and energy consumption. This paper aims to...

The influence of climate on economic growth is a topic of growing interest. Few studies have investigated the potential role that climate hazards and their cumulative effects have on the growth prospects for a country. Due to the relatively stationary spatial patterns of global climate, some...

The influence of climate on economic growth is a topic of growing interest. Few studies have investigated the potential role that climate hazards and their cumulative effects have on the growth prospects for a country. Due to the relatively stationary spatial patterns of global climate, some...

Using the extended Ramsey rule, the socially efficient rate is the difference between a wealth effect and a precautionary effect of economic growth. This second effect is increasing in the degree of uncertainty affecting the future. In the literature, it is usually calibrated by estimating the...