Conference Agenda
Overview and details of the sessions of this conference. Please select a date or location to show only sessions at that day or location. Please select a single session for detailed view (with abstracts and downloads if available).
Please note that all times are shown in the time zone of the conference. The current conference time is: 24th Aug 2026, 01:51:11am WEST
External resources will be made available 30 min before a session starts. You may have to reload the page to access the resources.
|
Daily Overview |
| Session | |
|
Climate Damages Impact Location: B128 Session Chair: Edouard Civel, EDHEC Business School and Climate Economics Chair | |
    | |
“It’s not the heat, it’s the humidity!” New Climate Indices for Europe with a Multilevel Factor Model 1: University of Insubria, Italy; 2: Fondazione Eni Enrico Mattei, Italy; 3: University of Milano-Bicocca, Italy; 4: Polytechnic of Milano, Italy We construct a comprehensive set of climate indices for European countries that account for several variables related to weather, atmospheric conditions, and water availability. Our dataset includes monthly gridded climate observations from ERA5-Land, aggregated at the country level. Employing a Multilevel Dynamic Factor Model, we disentangle a global indicator, capturing overall climate dynamics across Europe, from country-specific local indices. While most empirical studies proxy climate through temperature or precipitation, our approach acknowledges that other atmospheric dimensions, such as humidity, radiation, and evaporation, jointly shape climatic variability and its economic effects. The global index primarily reflects temperature patterns common to most European countries, whereas the local indicators capture other meteorological phenomena and variations in water reserves. Finally, we show, via panel local projections, that different filtering and detrending procedures used to construct climate anomalies influence the estimated effects of climate shocks on economic activity. | |