Transcription of Temperature and Growth
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Temperature and Growth
Temperature and Growth :A Panel Analysis of the United StatesRiccardo ColacitoBridget HoffmannToan Phan AbstractWe document that seasonal temperatures have significant and systematic effectson the economy, both at the aggregate level and across a wide cross-section ofeconomic sectors. This effect is particularly strong for the summer: a1oF increase inthe average summer Temperature is associated with a reduction in the annual growthrate of state-level output points. We combine our estimateswith projected increases in seasonal temperatures and find that rising temperaturescould reduce economic Growth by up to one-third over the next classification: O44; Q51; Q59; draft: March 30, 2018. Colacito is affiliated with the Kenan-Flagler Business School and the Department of Economics atthe University of North Carolina at Chapel Hill.
temperature, we focus on the effect of a change in the mean seasonal temperature. In a similar vein, Bloesch and Gourio (2015) analyze the impact of temperature and snowfall during the coldest months of the year (November through March) on the growth
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