The Short-Run Effects of Weather Anomalies on Consumer & Commodity Prices
This paper analyses the short-term effects of El Niño and La Niña weather shocks simultaneously, using the El Niño Southern Oscillation (ENSO) cycle and imposing assumptions on the econometric VAR model. We contribute to the climate macroeconomics literature by examining the impact of weather anomalies on commodity and food prices using monthly data. Our result for the world provides an overall in