| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP16312 |
| DP16312 The Effects of Climate Change on Labor and Capital Reallocation | |
| Jacopo Ponticelli; Paula Bustos; Christoph Albert | |
| 发表日期 | 2021-06-30 |
| 出版年 | 2021 |
| 语种 | 英语 |
| 摘要 | We study the effects of climate change on labor and capital reallocation across regions, sectors and firms. We use newly digitized administrative reports on extreme weather events occurred in Brazil during the last two decades and a meteorological measure of excess dryness relative to historical averages to estimate the effects of droughts in the local economy of affected areas, on the magnitude of the labor and capital flows they generate and on factor allocation in destination regions. We document two main results. In the short run, local economies insure themselves against negative weather shocks via financial integration with other regions. However, in the long run, affected regions experience capital outflows driven by a reduction in loans, consistent with a permanent decrease in investment opportunities. Second, we find that abnormal dryness affects the structure of both the local economy and the economy of areas connected via migrant networks. Directly affected areas experience a sharp reduction in population and employment, concentrated in agriculture and services. While local manufacturing absorbs some of the displaced workers, these regions experience large out-migration flows. Regions receiving climate migrants expand employment in agriculture and services, but not in manufacturing. Using social security data, we provide evidence that labor market frictions direct migrants to firms connected to migrant social networks, which are mostly outside the manufacturing sector. This has implications for the composition of economic activity and the firm size distribution in destination regions. |
| 主题 | Development Economics ; Financial Economics ; International Trade and Regional Economics |
| 关键词 | Droughts Spei-12 Brazil Migration Financial integration |
| URL | https://cepr.org/publications/dp16312 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/545277 |
| 推荐引用方式 GB/T 7714 | Jacopo Ponticelli,Paula Bustos,Christoph Albert. DP16312 The Effects of Climate Change on Labor and Capital Reallocation. 2021. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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