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Goldilocks Economies? Temperature Stress and the Direct Impacts of Climate Change

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  • Geoffrey Heal
  • Jisung Park

Abstract

We review recent literature on the effect of temperature stress on economic activity, operating through basic human physiology. There is growing evidence from both micro and macro studies of causal impacts of extreme temperature on health, labor supply, and labor productivity, driven in large part by extreme heat stress. There is also a suggestion of an optimal temperature zone for economic activity, though empirical research on potential adaptive responses remains thin. This emerging literature has implications for the consequence of climate change, and may also provide a partial explanation of why hot countries are generally poorer than temperate or cold ones.

Suggested Citation

  • Geoffrey Heal & Jisung Park, 2015. "Goldilocks Economies? Temperature Stress and the Direct Impacts of Climate Change," NBER Working Papers 21119, National Bureau of Economic Research, Inc.
  • Handle: RePEc:nbr:nberwo:21119
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    File URL: http://www.nber.org/papers/w21119.pdf
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    References listed on IDEAS

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    Cited by:

    1. Marco Letta & Pierluigi Montalbano & Richard S.J. Tol, 2017. "Temperature shocks, growth and poverty thresholds: evidence from rural Tanzania," Working Papers 13/17, Sapienza University of Rome, DISS.
    2. Frankovic, Ivan, 2017. "The impact of climate change on health expenditures," ECON WPS - Vienna University of Technology Working Papers in Economic Theory and Policy 02/2017, Vienna University of Technology, Institute for Mathematical Methods in Economics, Research Group Economics (ECON).

    More about this item

    JEL classification:

    • J22 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Time Allocation and Labor Supply
    • Q5 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming

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