A New Look at the Effects of Weather Shocks Over Time

Toan Phan

Richmond Fed Economic Brief, 2023, vol. 23, issue 25

Abstract: This article examines the relationship between severe weather shocks and the U.S. macroeconomy from 1963 to 2019, applying a novel empirical approach to high-frequency data. We find weather shocks are growing in their influence on key economic variables, such as industrial output, unemployment and inflation.

Keywords: environment; weather shocks; high frequency events; industrial outputs; employment; Inflation (search for similar items in EconPapers)
Date: 2023
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