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The productivity impact of global warming : firm-level evidence for Europe
Gagliardi, Nicola; Grinza, Elena; Rycx, François - 2024
We investigate the impact of rising temperatures on firm productivity using longitudinal firm-level balance-sheet data … productivity declines markedly as temperatures rise, while capital productivity remains unaffected – indicating that TFP is … experience significant productivity declines. Geographically, the negative impact is most pronounced in temperate and …
Persistent link: https://www.econbiz.de/10015050830
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The productivity impact of global warming : firm-level evidence for Europe
Gagliardi, Nicola; Grinza, Elena; Rycx, François - 2024
In this paper, we investigate the impact of rising temperatures on firm productivity using longitudinal firm … temperatures rise, while capital productivity remains unaffected - indicating that TFP is primarily affected through the labor … temperature. We begin by estimating firms' total factor productivity (TFP) using control-function techniques. We then apply …
Persistent link: https://www.econbiz.de/10015071890
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The risk-adjusted carbon price
Ploeg, Frederick van der; Bremer, Ton van den - 2021
The social cost of carbon is the expected present value of damages from emitting one ton of carbon today. We use perturbation theory to derive an approximate tractable expression for this cost adjusted for climatic and economic risk. We allow for different aversion to risk and intertemporal...
Persistent link: https://www.econbiz.de/10012545108
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The risk-adjusted carbon price
Bremer, Ton S. van den; Ploeg, Frederick van der - 2019
We use perturbation methods to derive a rule for the optimal risk-adjusted social cost of carbon (SCC) that incorporates the effects of uncertainties associated with climate and the economy from a calibrated DSGE model. We allow for different aversions to risk and intertemporal fluctuations,...
Persistent link: https://www.econbiz.de/10011996310
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Climate Change Exposure and Stock Return Predictability
Xu, Jiangmin; Sun, Cheng; You, Yihui - 2021
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...
Persistent link: https://www.econbiz.de/10013248340
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Estimation of Climate Change Damage Functions for 140 Regions in the GTAP9 Database
Roson, Roberto - 2016
estimating parameters for six specific damage functions, referring to: sea level rise, agricultural productivity, heat effects on … labor productivity, human health, tourism flows and households' energy demand. All parameters of the damage functions are …
Persistent link: https://www.econbiz.de/10012997531
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Estimation of Climate Change Damage Functions for 140 Regions in the GTAP9 Database
Roson, Roberto; Sartori, Martina - 2016
estimating parameters for six specific damage functions, referring to: sea level rise, agricultural productivity, heat effects on … labor productivity, human health, tourism flows and households' energy demand. All parameters of the damage functions are …
Persistent link: https://www.econbiz.de/10014128920
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Temperature and low-stakes cognitive performance
Zhang, Xin; Chen, Xi; Zhang, Xiaobo - 2023
temperatures may disrupt low-stakes cognitive activities across a range of age cohorts. By matching eight years of repeated …
Persistent link: https://www.econbiz.de/10014287259
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Modelling the effects of climate change on economic growth : a Bayesian Structural Global Vector Autoregressive approach
Ahmadi, Maryam; Casoli, Chiara; Manera, Matteo; … - 2022
The identification of the effects of climate shocks on economic growth is central to design effective policies aiming at managing the future global climate change challenge. In this study, we investigate the effects of temperature and precipitation shocks on economic growth across different...
Persistent link: https://www.econbiz.de/10014264956
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Estimating a Climate Change Damage Function through General Equilibrium Modeling
Bosello, Francesco; Roson, Roberto - 2014
A Climate Change Damage Function (CCDF) is a reduced form relationship linking macroeconomic aggregates (e.g., potential GDP) to climate indicators (e.g., average temperature levels). This function is used in a variety of studies about climate change impacts and policy analysis. However, despite...
Persistent link: https://www.econbiz.de/10014225513