Note to readers: please click the share buttons above Featured image: #WeRiseForClimate protest in San Francisco, September 8, 2018 fro...
Temperatures and Growth: A Panel Analysis of the U.S.
- Citation data:
SSRN Electronic Journal
- Publication Year:
- temperatures; growth; climate change; industry analysis
- Most Recent Blog Mention
- Most Recent News Mention
The Global #RiseForClimate actions are just one example of many that the climate justice movement is building the power needed to trans...
We document that seasonal temperatures have significant and systematic effects on the U.S. economy, both at the aggregate level and across a wide cross-section of economic sectors. This effect is particularly strong for the summer: a 1F increase in the average summer temperature is associated with a reduction in the annual growth rate of state-level output of 0.15 to 0.25 percentage points. We combine our estimates with projected increases in seasonal temperatures and find that rising temperatures could reduce U.S. economic growth by up to one-third over the next century.