@article{KotzWenzStechemesseretal.2021,
  author    = {Kotz, Maximilian and Wenz, Leonie and Stechemesser, Annika and Kalkuhl, Matthias and Levermann, Anders},
  title     = {Day-to-day temperature variability reduces economic growth},
  series = {Nature climate change},
  volume    = {11},
  journal   = {Nature climate change},
  number    = {4},
  publisher = {Nature Publishing Group},
  address   = {London},
  issn      = {1758-678X},
  doi       = {10.1038/s41558-020-00985-5},
  pages     = {319 -- 325},
  year      = {2021},
  abstract  = {Elevated annual average temperature has been found to impact macro-economic growth. However, various fundamental elements of the economy are affected by deviations of daily temperature from seasonal expectations which are not well reflected in annual averages. Here we show that increases in seasonally adjusted day-to-day temperature variability reduce macro-economic growth independent of and in addition to changes in annual average temperature. Combining observed day-to-day temperature variability with subnational economic data for 1,537 regions worldwide over 40 years in fixed-effects panel models, we find that an extra degree of variability results in a five percentage-point reduction in regional growth rates on average. The impact of day-to-day variability is modulated by seasonal temperature difference and income, resulting in highest vulnerability in low-latitude, low-income regions (12 percentage-point reduction). These findings illuminate a new, global-impact channel in the climate-economy relationship that demands a more comprehensive assessment in both climate and integrated assessment models.},
  language  = {en}
}
@article{KotzLevermannWenz2022,
  author    = {Kotz, Maximilian and Levermann, Anders and Wenz, Leonie},
  title     = {The effect of rainfall changes on economic production},
  series = {Nature : the international journal of science},
  volume    = {601},
  journal   = {Nature : the international journal of science},
  number    = {7892},
  publisher = {Macmillan Publishers Limited, part of Springer Nature},
  address   = {London},
  issn      = {0028-0836},
  doi       = {10.1038/s41586-021-04283-8},
  pages     = {223 -- 227},
  year      = {2022},
  abstract  = {Macro-economic assessments of climate impacts lack an analysis of the distribution of daily rainfall, which can resolve both complex societal impact channels and anthropogenically forced changes(1-6). Here, using a global panel of subnational economic output for 1,554 regions worldwide over the past 40 years, we show that economic growth rates are reduced by increases in the number of wet days and in extreme daily rainfall, in addition to responding nonlinearly to the total annual and to the standardized monthly deviations of rainfall. Furthermore, high-income nations and the services and manufacturing sectors are most strongly hindered by both measures of daily rainfall, complementing previous work that emphasized the beneficial effects of additional total annual rainfall in low-income, agriculturally dependent economies(4,7). By assessing the distribution of rainfall at multiple timescales and the effects on different sectors, we uncover channels through which climatic conditions can affect the economy. These results suggest that anthropogenic intensification of daily rainfall extremes(8-10) will have negative global economic consequences that require further assessment by those who wish to evaluate the costs of anthropogenic climate change.},
  language  = {en}
}
@phdthesis{Kotz2022,
  author    = {Kotz, Maximilian},
  title     = {The economic costs of climate change},
  school      = {Universit{\"a}t Potsdam},
  pages     = {279},
  year      = {2022},
  language  = {en}
}
@article{WenzCarrKoegeletal.2023,
  author    = {Wenz, Leonie and Carr, Robert Devon and K{\"o}gel, Noah and Kotz, Maximilian and Kalkuhl, Matthias},
  title     = {DOSE - global data set of reported sub-national economic output},
  series = {Scientific data},
  volume    = {10},
  journal   = {Scientific data},
  number    = {1},
  publisher = {Nature Publishing Group},
  address   = {London},
  issn      = {2052-4463},
  doi       = {10.1038/s41597-023-02323-8},
  pages     = {1 -- 17},
  year      = {2023},
  abstract  = {Many phenomena of high relevance for economic development such as human capital, geography and climate vary considerably within countries as well as between them. Yet, global data sets of economic output are typically available at the national level only, thereby limiting the accuracy and precision of insights gained through empirical analyses. Recent work has used interpolation and downscaling to yield estimates of sub-national economic output at a global scale, but respective data sets based on official, reported values only are lacking. We here present DOSE — the MCC-PIK Database Of Sub-national Economic Output. DOSE contains harmonised data on reported economic output from 1,661 sub-national regions across 83 countries from 1960 to 2020. To avoid interpolation, values are assembled from numerous statistical agencies, yearbooks and the literature and harmonised for both aggregate and sectoral output. Moreover, we provide temporally- and spatially-consistent data for regional boundaries, enabling matching with geo-spatial data such as climate observations. DOSE provides the opportunity for detailed analyses of economic development at the subnational level, consistent with reported values.},
  language  = {en}
}