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Past studies on the relationship between electricity consumption and temperature have primarily focused on individual countries. Many regions are understudied as a result of data constraint. This paper studies the relationship on a global scale, overcoming the data constraint by using grid-level night light and temperature data. Mostly generated by electricity and recorded by satellites, night light has a strong linear relationship with electricity consumption and is correlated with both its extensive and intensive margins. Using night light as a proxy for electricity consumption at the grid level, we find: (1) there is a U-shaped relationship between electricity consumption and temperature; (2) the critical point of temperature for minimum electricity consumption is around 14.6°C for the world and it is higher in urban and more industrial areas; and (3) the impact of temperature on electricity consumption is persistent. Sub-Saharan African countries, while facing a large electricity deficit already, are particularly vulnerable to climate change: a 1°C increase in temperature is estimated to increase their electricity demand by 6.7% on average.

Investments: Energy --- Macroeconomics --- Environmental Economics --- Demography --- Climate --- Natural Disasters and Their Management --- Global Warming --- Regional Economic Activity: Growth, Development, and Changes --- Size and Spatial Distributions of Regional Economic Activity --- Electric Utilities --- Macroeconomics: Consumption --- Saving --- Wealth --- Demographic Economics: General --- Aggregate Factor Income Distribution --- Investment & securities --- Climate change --- Population & demography --- Electricity --- Consumption --- Population and demographics --- Income --- Electric utilities --- Economics --- Climatic changes --- Population --- Brazil

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This paper discusses the challenges that European Monetary Union (EMU) poses for European labor markets, emphasizing in particular the regional dimension of the European unemployment problem. The authors argue that the inability of labor markets to adjust to shocks is largely a regional problem within EMU member countries, requiring structural reforms to enhance labor market flexibility but also a decentralization of competencies and greater diversity of labor market outcomes. Any attempt to successfully reform European labor markets and “make them fit for EMU” has to take into account the regional–and even a more decentralized firm–perspective.

Exports and Imports --- Labor --- Employment --- Unemployment --- Wages --- Intergenerational Income Distribution --- Aggregate Human Capital --- Aggregate Labor Productivity --- Monetary Systems --- Standards --- Regimes --- Government and the Monetary System --- Payment Systems --- Economic Integration --- Regional Economic Activity: Growth, Development, and Changes --- Demand and Supply of Labor: General --- Unemployment: Models, Duration, Incidence, and Job Search --- Financial Aspects of Economic Integration --- Labour --- income economics --- International economics --- Labor markets --- Labor market flexibility --- Monetary unions --- Economic integration --- Labor market --- Economic theory --- Germany

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This paper proposes a possible framework for identifying excessive investment. Based on this method, it finds evidence that some types of investment are becoming excessive in China, particularly in inland provinces. In these regions, private consumption has on average become more dependent on investment (rather than vice versa) and the impact is relatively short-lived, necessitating ever higher levels of investment to maintain economic activity. By contrast, private consumption has become more self-sustaining in coastal provinces, in large part because investment here tends to benefit household incomes more than corporates. If existing trends continue, valuable resources could be wasted at a time when China’s ability to finance investment is facing increasing constraints due to dwindling land, labor, and government resources and becoming more reliant on liquidity expansion, with attendant risks of financial instability and asset bubbles. Thus, investment should not be indiscriminately directed toward urbanization or industrialization of Western regions but shifted toward sectors with greater and more lasting spillovers to household income and consumption. In this context, investment in agriculture and services is found to be superior to that in manufacturing and real estate. Financial reform would facilitate such a reorientation, helping China to enhance capital efficiency and keep growth buoyant even as aggregate investment is lowered to sustainable levels.

Investments --- Consumption (Economics) --- China --- Economic conditions. --- Investments: General --- Investments: Stocks --- Macroeconomics --- Investment --- Capital --- Intangible Capital --- Capacity --- Industrialization --- Manufacturing and Service Industries --- Choice of Technology --- Regional Economic Activity: Growth, Development, and Changes --- Size and Spatial Distributions of Regional Economic Activity --- Macroeconomics: Consumption --- Saving --- Wealth --- Aggregate Factor Income Distribution --- Pension Funds --- Non-bank Financial Institutions --- Financial Instruments --- Institutional Investors --- Investment & securities --- Private consumption --- Income --- Consumption --- Stocks --- Private investment --- National accounts --- Financial institutions --- Economics --- Saving and investment --- China, People's Republic of

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Total factor productivity (TFP) growth began slowing in the United States in the mid-2000s, before the Great Recession. To many, the main culprit is the fading positive impact of the information technology (IT) revolution that took place in the 1990s. But our estimates of TFP growth across the U.S. states reveal that the slowdown in TFP was quite widespread and not particularly stronger in IT-producing states or in those with a relatively more intensive usage of IT. An alternative explanation offered in this paper is that the slowdown in U.S. TFP growth reflects a loss of efficiency or market dynamism over the last two decades. Indeed, there are large differences in production efficiency across U.S. states, with the states having better educational attainment and greater investment in R&D being closer to the production “frontier.”.

Industrial efficiency -- United States. --- Industrial productivity -- United States. --- Technological innovations -- United States. --- Business & Economics --- Economic History --- Labor --- Production and Operations Management --- Inventions --- Measurement of Economic Growth --- Aggregate Productivity --- Cross-Country Output Convergence --- Macroeconomics: Production --- Innovation --- Research and Development --- Technological Change --- Intellectual Property Rights: General --- Regional Economic Activity: Growth, Development, and Changes --- Production --- Cost --- Capital and Total Factor Productivity --- Capacity --- Human Capital --- Skills --- Occupational Choice --- Labor Productivity --- Macroeconomics --- Labour --- income economics --- Inventions & inventors --- Total factor productivity --- Productivity --- Human capital --- Technological innovation --- Technology --- Industrial productivity --- Technological innovations --- United States

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The health and economic impacts of COVID-19 on India have been substantial, with wide variation across states and union territories. This paper quantifies the impact of containment measures and voluntary social distancing on both the spread of the virus and the economy at the state level during the first wave of the COVID-19 pandemic. We construct a de-facto measure of state-level social distancing, combining containment strigency and observed mobility trends. State-level empirical analysis suggests that social distancing and containment measures effectively reduced case numbers, but came with high economic costs. State characteristics, such as health care infrastructure and the share of services in the economy, played an important role in shaping the health and economic outcomes, highlighting the importance of adequate social spending, health care infrastructure, and social safety nets.

Macroeconomics --- Economics: General --- Diseases: Contagious --- Demography --- Infrastructure --- Health Policy --- Multiple or Simultaneous Equation Models: Models with Panel Data --- Studies of Particular Policy Episodes --- Economywide Country Studies: Asia including Middle East --- Regional Economic Activity: Growth, Development, and Changes --- Health: General --- Health Behavior --- Demographic Economics: General --- Investment --- Capital --- Intangible Capital --- Capacity --- Analysis of Health Care Markets --- Economic & financial crises & disasters --- Economics of specific sectors --- Health economics --- Infectious & contagious diseases --- Population & demography --- Health systems & services --- Health --- COVID-19 --- Population and demographics --- National accounts --- Health care --- Currency crises --- Informal sector --- Economics --- Communicable diseases --- Population --- Saving and investment --- Medical care --- India