世界银行：热、非正式性和错配：企业在短期和长期的适应（英文版）

How do climate shocks shape resource allocation across firms? Rising temperatures might worsen allocative efficiency if large, productive firms face constraints in adapting. This paper assesses this question in India, an economy characterized by informality, misallocation, and extreme heat. The paper uses census data on 42 million non-farm establishments from 1990 to 2013 linked to granular climate histories to estimate the impact of heat on the firm size distribution. A 1 degree Celsius temp