Economic Consequences of Weather, The
Households in the United States and a number of other wealthy nations have been migrating to places with nice weather. This likely reflects an increase in the relative valuation of the weather’s direct contribution to household utility. Several different amenity explanations are discussed that can account for the increased valuation and ongoing move.
KeywordsCompensating differentials Consumption amenities Local growth Migration Weather
The views herein are those of the author and do not necessarily reflect the position of the Federal Reserve Bank of Kansas City or the Federal Reserve System. Thank you to Yi Li for excellent research assistance.
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