Date of Award

8-2022

Document Type

Thesis

Degree Name

Master of Arts (MA)

Department

Economics

Committee Chair/Advisor

Dr. Robert Fleck

Committee Member

Dr. Yichen Christy Zhou

Committee Member

Dr. Molly Espey

Abstract

A substantial amount of research exists on the economic effects of natural disasters and extreme weather, as well as comparatively minor variations in daily weather conditions such as precipitation, temperature, and wind. I construct a sample of over a million storms that range from intense daily weather conditions to extreme weather. I analyze written descriptions of the damages caused by many of these storms to identify 93,743 weather events within the sample that appear to be underemphasized in the existing economic literature. These storms cause more damage and disruptions to commerce than 63.5% of storms in the sample, yet do not inflict enough damage to meet the minimum criteria to be included in databases that track extreme weather. During the twenty-first century, these “moderate” storms occur an average of once a year in 2075 counties in the U.S. Accounting for more intense weather, the average storm is associated with a decrease of .054% in county total payroll and a decline of .047% in county total employment compared to the previous quarter. These storms are expected to decrease total payroll by $186,125.60 and total employment by 16.22 people each quarter in the average county. Total payroll or total employment in most sectors within a county are sensitive to these storms. Most types of moderate storms have a negative effect on total payroll growth, with high temperatures, cyclones, droughts, precipitation, and floods all being associated with the largest decreases in county total payroll. The effects of moderate storms on labor markets appear to primarily be confined to the quarters in which these storms occur.

Share

COinS
 
 

To view the content in your browser, please download Adobe Reader or, alternately,
you may Download the file to your hard drive.

NOTE: The latest versions of Adobe Reader do not support viewing PDF files within Firefox on Mac OS and if you are using a modern (Intel) Mac, there is no official plugin for viewing PDF files within the browser window.