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  The impact of climate conditions on economic production. Evidence from a global panel of regions

Kalkuhl, M., Wenz, L. (2020): The impact of climate conditions on economic production. Evidence from a global panel of regions. - Journal of Environmental Economics and Management, 103, 102360.
https://doi.org/10.1016/j.jeem.2020.102360

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 Creators:
Kalkuhl, Matthias1, Author
Wenz, Leonie2, Author              
Affiliations:
1External Organizations, ou_persistent22              
2Potsdam Institute for Climate Impact Research, ou_persistent13              

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 Abstract: We present a novel data set of subnational economic output, Gross Regional Product (GRP), for more than 1,500 regions in 77 countries that allows us to empirically estimate historic climate impacts at different time scales. Employing annual panel models, long-difference regressions and cross-sectional regressions, we identify effects on productivity levels and productivity growth. We do not find evidence for permanent growth rate impacts but we find robust evidence that temperature affects productivity levels considerably. An increase in global mean surface temperature by about 3.5C until the end of the century would reduce global output by 7-14% in 2100, with even higher damages in tropical and poor regions. Updating the DICE damage function with our estimates suggests that the social cost of carbon from temperature-induced productivity losses is on the order of 73-142$/tCO2 in 2020, rising to 92-181$/tCO2 in 2030. These numbers exclude non-market damages and damages from extreme weather events or sea-level rise.

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Language(s): eng - English
 Dates: 2018-12-302020-07-072020-08-042020
 Publication Status: Finally published
 Pages: -
 Publishing info: -
 Table of Contents: -
 Rev. Type: Peer
 Identifiers: PIKDOMAIN: RD4 - Complexity Science
Working Group: Data-based analysis of climate decisions
Model / method: Machine Learning
Research topic keyword: Climate impacts
Regional keyword: Global
Research topic keyword: Climate Policy
Research topic keyword: Weather
Research topic keyword: Economics
MDB-ID: yes - 3035
DOI: 10.1016/j.jeem.2020.102360
Working Group: Data-based analysis of climate decisions
 Degree: -

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Project name : -
Grant ID : 603864
Funding program : Seventh Framework Programme FP7/2007- 2013
Funding organization : -
Project name : -
Grant ID : -
Funding program : S.V. Ciriacy-Wantrup Fellowship programme at UC Berkeley
Funding organization : -

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Title: Journal of Environmental Economics and Management
Source Genre: Journal, SCI, Scopus
 Creator(s):
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Publ. Info: -
Pages: - Volume / Issue: 103 Sequence Number: 102360 Start / End Page: - Identifier: Other: Elsevier
Other: 1096-0449
ISSN: 0095-0696
CoNE: https://publications.pik-potsdam.de/cone/journals/resource/journal-of-environmental-economics-and-management
Publisher: Elsevier