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The Effect of Winter Weather on U.S. Economic Activity

20 Pages Posted: 26 Apr 2015  

Justin Bloesch

Federal Reserve Bank of Chicago

Francois Gourio

Federal Reserve Bank of Chicago

Date Written: March 1, 2015

Abstract

The authors’ findings support the view that weather has a significant, but short-lived, effect on economic activity. Except for a few industries, which are affected importantly (such as utilities, construction, hospitality and to a lesser extent retail), the effect is not very big, so that even the fairly bad weather during the 2013-14 winter cannot account entirely for the weak economy during that period. Other factors must have been at play.

Keywords: weather, climate, snow, precipitation, temperature, employment, economic disruption

Suggested Citation

Bloesch, Justin and Gourio, Francois, The Effect of Winter Weather on U.S. Economic Activity (March 1, 2015). Economic Perspectives, Vol. 39, No. 1, 2015. Available at SSRN: https://ssrn.com/abstract=2598559

Justin Bloesch

Federal Reserve Bank of Chicago ( email )

230 South LaSalle Street
Chicago, IL 60604
United States

Francois Gourio (Contact Author)

Federal Reserve Bank of Chicago ( email )

230 South LaSalle Street
Chicago, IL 60604
United States

HOME PAGE: http://sites.google.com/site/fgourio

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