Climate Shocks and (Very) Long-Run Productivity

34 Pages Posted: 26 Sep 2015

See all articles by Carl‐Johan Dalgaard

Carl‐Johan Dalgaard

University of Copenhagen - Department of Economics

Casper Worm Hansen

University of Copenhagen - Department of Economics; University of Copenhagen

Nicolai Kaarsen

Kraka Foundation

Date Written: September 22, 2015

Abstract

The present study examines the link between temperature and long-run productivity for a balanced panel of 21 countries, covering the period 1000-1800 CE. Collectively the countries examined accounted for about 2/3 of the global population by 1700. Each epoch in the analysis is a century long, which thus allows time for human adaptation after a temperature shock has occurred. Our principal finding is that lower temperatures worked to reduce productivity growth during the period in focus, consistent with contributions to the literature in economic history that argue the Little Ice Age was as a contractionary shock.

Keywords: Climate shocks; Little Ice Age; Productivity growth

JEL Classification: O47; O57; N10

Suggested Citation

Dalgaard, Carl-Johan Lars and Hansen, Casper Worm and Hansen, Casper Worm and Kaarsen, Nicolai, Climate Shocks and (Very) Long-Run Productivity (September 22, 2015). Available at SSRN: https://ssrn.com/abstract=2665151 or http://dx.doi.org/10.2139/ssrn.2665151

Carl-Johan Lars Dalgaard (Contact Author)

University of Copenhagen - Department of Economics ( email )

Øster Farimagsgade 5
Bygning 26
1353 Copenhagen K.
Denmark
+45 3532 4407 (Phone)

Casper Worm Hansen

University of Copenhagen - Department of Economics ( email )

Øster Farimagsgade 5
Copenhagen K, DK 1153
Denmark

University of Copenhagen ( email )

Nørregade 10
Copenhagen, København DK-1165
Denmark

Nicolai Kaarsen

Kraka Foundation ( email )

Kompagnistræde 20A
Copenhagen
Denmark

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