Heinen, Andréas; Khadan, Jeetendra; Strobl, Eric Albert (2019). The Price Impact of Extreme Weather in Developing Countries. The economic journal, 129(619), pp. 1327-1342. Oxford University Press 10.1111/ecoj.12581
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The Price Impact of Extreme Weather in Developing Countries* - ecoj12581.pdf - Published Version Restricted to registered users only Available under License Publisher holds Copyright. Download (3MB) |
We examine the impact of extreme weather on consumer prices in developing countries by constructing a monthly data set of potential hurricane and flood destruction indices and linking these with consumer price data for 15 Caribbean islands. Our econometric model shows that the price impact of extreme weather events can be large. To illustrate potential welfare losses due to these price effects, we combine our estimates with price elasticities obtained from a demand system and with event probabilities for Jamaica. Our results show that while expected monthly losses are small, rare events can cause large falls in monthly welfare due to price increases.
Item Type: |
Journal Article (Original Article) |
|---|---|
Division/Institute: |
03 Faculty of Business, Economics and Social Sciences > Department of Economics |
UniBE Contributor: |
Strobl, Eric Albert |
Subjects: |
300 Social sciences, sociology & anthropology > 330 Economics |
ISSN: |
0013-0133 |
Publisher: |
Oxford University Press |
Language: |
English |
Submitter: |
Dino Collalti |
Date Deposited: |
09 Jul 2019 12:26 |
Last Modified: |
05 Dec 2022 15:27 |
Publisher DOI: |
10.1111/ecoj.12581 |
BORIS DOI: |
10.7892/boris.127582 |
URI: |
https://boris.unibe.ch/id/eprint/127582 |
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