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Macroeconomic Effects of El Niño in Costa Rica

Author

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  • Jorge León Murillo

    (Department of Economic Research, Central Bank of Costa Rica)

Abstract

The present paper explores the effects of the climatic phenomenon known as El Niño Southern Oscillation (ENSO) in some of the macroeconomic variables of Costa Rica, including the evolution of prices and production. For this, a relevant theoretical framework is developed and the effects of ENSO fluctuations on these variables are estimated. Results suggest a positive effect on prices and a negative effect on production. ***Resumen: El presente documento explora los efectos del fenómeno climatológico conocido como El Niño Oscilación Sur (ENSO) en la evolución de los precios y producción de Costa Rica. Para ello se desarrolla un marco teórico relevante y se estiman los efectos de las fluctuaciones del ENOS sobre estas variables. Los resultados sugieren que El Niño tiene un efecto positivo sobre los precios y un efecto negativo sobre la producción.

Suggested Citation

  • Jorge León Murillo, 2019. "Macroeconomic Effects of El Niño in Costa Rica," Documentos de Trabajo 1702, Banco Central de Costa Rica.
    • Handle: RePEc:apk:doctra:1702
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    File URL: https://repositorioinvestigaciones.bccr.fi.cr/handle/20.500.12506/232
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    Keywords

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    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming

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