We estimate the economic impact of climate change by exploiting variation in local temperature across suppliers of the same client. We find that suppliers experiencing a 1°C increase in average daily temperature decrease their sales by 2%. The effect is more pronounced among suppliers in...

We estimate the economic impact of climate change by exploiting variation in local temperature across suppliers of the same client. We find that suppliers experiencing a 1°C increase in average daily temperature decrease their sales by 2%. The effect is more pronounced among suppliers in...

We exploit the exogenous COVID-19 shock in a bicultural area of Italy to identify cultural differences in the way companies respond to economic shocks, and in their resilience to those shocks. Firms with managers of diverse cultural backgrounds resort to different forms of government aid,...