Storms, Climate Change, And The Us Economy: A National Analysis
Climate change models predict that storm frequency will decrease over time, while storm intensity will increase. This paper looks at the national effects of storm frequency and storm intensity on various industries in the US economy, using yearly data from 1977 through 1997. We find that yearly deviations in storm frequency and intensity around their state specific and year specific averages have a statistically significant effect on the gross state products of a number of industries. We use these estimated impacts to calculate the national economic consequences of changes in storm frequency and intensity that are predicted by climate change models. The results imply that a predicted drop in storm frequency leads to $5.6 billion in losses (0.07% of the US economy in 1997), while a predicted increase in storm intensity has no significant economic impact. Thus, though the effects of storms on gross industry product are statistically significant, their economic effects are small.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 10 (2010)
Issue (Month): 1 ()
|Contact details of provider:|| Web page: http://www.usc.es/economet/eaa.htm|
|Order Information:|| Web: http://www.usc.es/economet/info.htm Email: |
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Michael Greenstone & Olivier Deschenes, 2006.
"The Economic Impacts of Climate Change: Evidence from Agricultural Profits and Random Fluctuations in Weather,"
2006.6, Fondazione Eni Enrico Mattei.
- Olivier Deschenes & Michael Greenstone, 2006. "The Economic Impacts of Climate Change Evidence from Agricultural Profits and Random Fluctuations in Weather," Working Papers 0601, Massachusetts Institute of Technology, Center for Energy and Environmental Policy Research.
- Deschenes, Olivier & Greenstone, Michael, 2004. "The Economic Impacts of Climate Change: Evidence from Agricultural Profits and Random Fluctuations in Weather," University of California at Santa Barbara, Economics Working Paper Series qt6w7242cj, Department of Economics, UC Santa Barbara.
- Martha Starr-McCluer, 2000. "The effects of weather on retail sales," Finance and Economics Discussion Series 2000-08, Board of Governors of the Federal Reserve System (U.S.).
- Dug Lee & Kenneth Lyon, 2001. "A dynamic analysis of the global timber market under global warming: an integrated modeling approach," Working Papers 2001-11, Utah State University, Department of Economics.
- William D. Nordhaus, 2006. "The Economics of Hurricanes in the United States," NBER Working Papers 12813, National Bureau of Economic Research, Inc.
When requesting a correction, please mention this item's handle: RePEc:eaa:aeinde:v:10:y:2010:i:1_7. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (M. Carmen Guisan)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.