Beuermann, D. y Sánchez, A. (2012). Los efectos de choques transitorios en resultados de largo plazo: efectos adversos del clima en la acumulación de capital humano en los Andes Peruanos (Cuaderno de Investigación N° 16). Lima: Instituto del Perú.

We estimate the long-term effect of exposure to unusual cold events in the Peruvian Andes during early stages of the life cycle on income, education and a number of dimensions of well-being attained in adulthood. Our findings suggest adverse effects for women and imply an effect of 7.4% lower annual adult wages as a result of being exposed for 4.33 months within the first 36 months of life to unusually cold weather. We show that the first year of life is the critical period that accounts for most of these effects. We find no effects of exposure during gestation or beyond the second year of life. This evidence suggests that investments directed towards the protection of these vulnerable groups may be justified from a long-term cost-benefit point of view.