{
  "title": "Rising Temperature, Nuanced Effects: Evidence from Seasonal and Sectoral Data",
  "publication": "IMF Working Papers, September 20, 2024",
  "sourceUrl": "https://www.imf.org/en/publications/wp/issues/2024/09/20/rising-temperature-nuanced-effects-evidence-from-seasonal-and-sectoral-data-555127",
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  "summary": "Using quarterly temperature and sectoral value-added data for a large sample of advanced economies (AEs) and emerging markets and developing economies (EMDEs), this paper uncovers nuanced effects of temperature on economic activity.",
  "sections": [
    {
      "heading": "Summary",
      "content": "- Study uses quarterly temperature and sectoral value-added data for a large sample of advanced economies (AEs) and emerging markets and developing economies (EMDEs).\n- Investigates seasonal (spring, summer, winter) temperature effects on growth in real value-added across sectors: agriculture, manufacturing, services."
    },
    {
      "heading": "Key findings",
      "content": "- EMDEs:\n  - Hotter spring and summer temperatures reduce growth in real value-added of manufacturing.\n  - The reduction is most significant for agriculture.\n  - A warmer winter boosts growth in real value-added (sector unspecified beyond context).\n- Advanced economies (AEs):\n  - A hotter spring hurts growth in real value-added of all considered sectors: services, manufacturing, and agriculture.\n- General patterns for both country groups:\n  - The negative effect of a hotter spring is larger and more persistent than the positive effect of a warmer winter.\n- Temporal development:\n  - The adverse impacts of hotter temperatures in advanced economies have accentuated in recent decades, suggesting increased vulnerability to rising temperatures."
    },
    {
      "heading": "Subject areas and keywords",
      "content": "- Subject: Agricultural sector, Climate change, Economic sectors, Emerging and frontier financial markets, Environment, Financial markets, Manufacturing\n- Keywords: Agricultural sector, agriculture, climate change, economic growth, Emerging and frontier financial markets, emerging markets and developing economies, Global, IMF working paper 24/202, Manufacturing, quarterly temperature, seasonal temperature, summer temperature, temperature\n\n---\n\n Content in this bundle\n\n- Working Paper\n  - Working Paper (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Working Paper (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2024/09/20/rising-temperature-nuanced-effects-evidence-from-seasonal-and-sectoral-data-555127"
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    "Authors: Ha Nguyen, Samuel Pienknagura",
    "Published: September 20, 2024",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9798400289248.001",
    "Study uses quarterly temperature and sectoral value-added data for a large sample of advanced economies (AEs) and emerging markets and developing economies (EMDEs).",
    "Investigates seasonal (spring, summer, winter) temperature effects on growth in real value-added across sectors: agriculture, manufacturing, services.",
    "EMDEs:",
    "Advanced economies (AEs):",
    "General patterns for both country groups:",
    "Temporal development:",
    "Subject: Agricultural sector, Climate change, Economic sectors, Emerging and frontier financial markets, Environment, Financial markets, Manufacturing",
    "Keywords: Agricultural sector, agriculture, climate change, economic growth, Emerging and frontier financial markets, emerging markets and developing economies, Global, IMF working paper 24/202, Manufacturing, quarterly temperature, seasonal temperature, summer temperature, temperature",
    "**Working Paper**"
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