Is it good to be bad or bad to be good? Assessing the aggregate impact of abnormal weather on consumer spending

نویسندگان

چکیده

Abstract Although the influence of exceptional weather on individual behaviour has already been acknowledged in finance, psychology, and marketing, literature examining effects at more aggregate level is still limited. Further, there a lot anecdotal evidence that anomalies affect consumer spending retail business. The main aim this analysis to investigate quantify unusual macro-level. Using sales data for Switzerland, our findings reveal deviations from seasonal norms, especially, unusually high or low temperatures given month, do cause sizeable intertemporal shifts country level. Furthermore, abnormal are found differ across seasons, both with respect sign magnitude. In particular, indicate manifest mainly through seasons change channel: conditions line coming season boost purchases early season.

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ژورنال

عنوان ژورنال: Empirical Economics

سال: 2021

ISSN: ['1435-8921', '0377-7332']

DOI: https://doi.org/10.1007/s00181-020-02006-y