Search Results

Showing results 1 to 2 of approximately 2.

(refine search)
SORT BY: PREVIOUS / NEXT
Jel Classification:Q52 

Working Paper
The Impact of Weather on Local Employment: Using Big Data on Small Places

This paper exploits vast granular data ? over 10 million county-industry-month observations ? to estimate dynamic panel data models of weather?s short-run employment effects. I estimated the contemporaneous and cumulative effects of temperature, precipitation, snowfall, the frequency of very hot days, the frequency of very cold days, and natural disasters on private nonfarm employment growth. The short-run effects of weather vary considerably across sectors and regions. Favorable weather in one county has positive spillovers to nearby counties but negative spillovers to distant counties. ...
Working Paper Series , Paper 2016-21

Working Paper
Clearing the Fog: The Predictive Power of Weather for Employment Reports and their Asset Price Responses

This paper exploits vast granular data – with over one million county-month observations – to estimate a dynamic panel data model of weather’s local employment effects. The fitted county model is then aggregated and used to generate in-sample and rolling out-of-sample (“nowcast”) estimates of the weather effect on national monthly employment. These nowcasts, which use only employment and weather data available prior to a given employment report, are significantly predictive not only of the surprise component of employment reports but also of stock and bond market returns on the days ...
Working Paper Series , Paper 2017-13

FILTER BY year

FILTER BY Series

FILTER BY Content Type

FILTER BY Author

FILTER BY Jel Classification

G17 1 items

J21 1 items

Q54 1 items

R11 1 items

PREVIOUS / NEXT