Riassunto analitico
Climate change and increasing temperatures represent a serious threat for future economies and individuals.
In this study I empirically estimate the impact of extreme temperatures, high humidity and strong precipitations on income and population across Italian provinces over the period from 2004 to 2023.
I find that a higher incidence of hot days within a year, defined as the yearly number of days with an average temperature above 25°C, decreases per capita real GDP and the number of inhabitants. These findings are robust to the inclusion of year and province fixed effects and controls reflecting additional climatic indicators. Furthermore, they are confirmed when using lagged values of the main regressors.
These findings significantly contribute to the ongoing debate on climate change, by documenting that global warming worsens individuals’ conditions by affecting their economic and residential conditions.
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