I propose a new conceptual framework to disentangle the impacts of weather and climate on economic activity and growth: A stochastic frontier model with climate in the production frontier and weather shocks as a source of inefficiency. I test it on a sample of 160 countries over the period 1950-2014. Temperature and rainfall determine production possibilities in both rich and poor countries; positively in cold countries and negatively in hot ones. Weather anomalies reduce inefficiency in rich countries but increase inefficiency in poor and hot countries; and more so in countries with low weather variability. The climate effect is larger that the weather effect.
The Social Cost of Carbon with Economic and Climate Risks
Becker Friedman Institute at the University of Chicago（芝加哥大学贝克弗里德曼研究所）；Hoover Institution（胡佛研究所）；Department of Business Administration, University of Zurich（苏黎世大学工商管理系）
Economic Impacts of Climate Change in the United States: Integrating and Harmonizing Evidence from Recent Studies
National Center for Environmental Economics, Environmental Protection Agency, USA（美国环境保护局国家环境经济中心）；Doerr School of Sustainability, Stanford University（斯坦福大学迪尔可持续发展学院）；Department of Agricultural and Resource Economics, University of California, Berkeley（加州大学伯克利分校农业与资源经济学系）
Ensuring resilience to extreme weather events increases the ambition of mitigation scenarios on solar power and storage uptake: a study on the Italian power system
