@article{6bf45cb8f6214be98d462f25182a2967,
title = "The economic impact of weather anomalies",
abstract = "How do weather anomalies affect the economy at the local level? This paper presents a new data set that links weather data to annual average night-light emission data for 24.000 0.5°× 0.5° grid-cells around the globe for the period 1992–2013. Interpreting night-light emission as a proxy for economic activity, these data allow one to investigate how weather anomalies affect economic activity. Global coverage avoids selection bias, while high spatial resolution avoids averaging out heterogeneity in local impacts at higher aggregation levels. Our data show significant effects on the local growth of night-light for storms, excessive precipitation, droughts, and cold spells. Moreover, we find evidence for significant spatial spillovers to neighboring areas. Our results suggest that these offsetting spillovers are typically local. As positive and negative effects average out in larger areas, our results call for the analysis of economic effects of weather anomalies at a high geographical resolution. Finally, our results are driven by events in lower income regions. As climate change is expected to make weather patterns more erratic, our new data can inform emerging debates on how this will affect the economy in both science and politics.",
keywords = "climate change, economic impact, local impact, night lights, spatial spillovers, weather anomalies, VARIETY, INNOVATION, SHOCKS, Climate change, Spatial spillovers, NIGHTTIME LIGHTS, INSTITUTIONS, MODELS, GROWTH, Weather anomalies, DEVELOPMENT SPILLOVERS, Local impact, Economic impact, NATURAL DISASTERS, GEOGRAPHY, Night lights",
author = "Gabriel Felbermayr and Jasmin Gr{\"o}schl and Mark Sanders and Vincent Schippers and Thomas Steinwachs",
note = "data source: Data published with the paper is available under DOI-number:10.7805/Game-Lights-2021 and can be downloaded at:https://www.ifo.de/ebdc-data/ifo-game. It combines data from various sources.",
year = "2022",
month = mar,
day = "1",
doi = "10.1016/j.worlddev.2021.105745",
language = "English",
volume = "151",
journal = "World Development",
issn = "0305-750X",
publisher = "Elsevier B.V.",
}