International Trade and the Transmission of Temperature Shocks
研究了高温天气如何通过贸易网络传导其负面影响，发现高温月份会使出口下降约3%，且劳动密集型产品受影响更大，均衡调整可降低约20%的经济成本。
Abstract We examine how the adverse impacts of weather shocks are distributed through the trade network. Exploiting a rich, theoretically derived, fixed effects structure, we find significant negative short-run effects of high temperature on exports. A month with an average temperature above 30 $$^{\circ }\hbox {C}$$ implies export losses of around three percent. These effects are increasing in the labour-intensity of exports. Using our structural Gravity model, we assess the general equilibrium incidence of these temperature shocks. We find that equilibrium adjustments reduce the economic costs by around 20 percent, but significant costs arise also for countries not directly exposed to high temperatures.