Temperature variability and extremes both affect economic growth

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Authors

Christopher Callahan, Justin Mankin

Abstract

Changes in temperature averages, variability, and extremes may all independently affect economic growth under climate change. Kotz et al. (2021) show that temperature variability reduces growth, but find no significant effect of temperature extremes. Recreating their results, here we show that temperature extremes do indeed affect growth independently from the effects of variability. Our results emphasize the need to consider multiple related moments of the temperature distribution when analyzing climate damages and to use metrics of temperature extremes that are relative to the local climate.

DOI

https://doi.org/10.31223/X57G8F

Subjects

Environmental Sciences, Physical Sciences and Mathematics

Keywords

Climate economics

Dates

Published: 2021-02-27 00:49

Last Updated: 2021-02-28 02:48

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License

CC BY Attribution 4.0 International

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Conflict of interest statement:
None

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