Climate consumption and climate pricing from 1940 to 1990

This paper studies trends in US climate consumption and climate compensatin g differentials. Three findings emerge. First, the population has shifted s o that the consumption of warmer winter climate has risen for both working families and more dramatically for senior citizens. Second, there has been a rise in rental capitalization. Third, earnings capitalization has decline d. Between 1960 and 1990, the relative price of climate has increased for s enior citizens and fallen for working families. (C) 1999 Elsevier Science B .V. All rights reserved.