Climatic Conditions and Productivity: An Impact Evaluation in Pre-industrial England
In this paper, we bridge economic data and climatic time series to assess the vulnerability of a pre-industrial economy to changes in climatic conditions. We propose an economic model to extract a measure of total productivity from English data (real wages and land rents) in the pre-industrial period. This measure of total productivity is then related to temperatures and precipitations. We find that lower (respectively higher) precipitations (resp. temperatures) enhance productivity. Furthermore, temperatures also have non-linear effects on productivity: large temperature variations lower productivity.We perform counterfactual exercises and quantify the effects of large increases in temperatures on productivity, GDP and welfare.
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Volume (Year): (2016)
Issue (Month): 121-122 ()
Pages: 261-277
| Handle: | RePEc:adr:anecst:y:2016:i:121-122:p:261-277 |
| DOI: | 10.15609/annaeconstat2009.121-122.261 |
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References listed on IDEAS
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