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ABSTRACT This study investigates the issue of whether our Earth’s surface temperature exhibits a stochastic trend. Using state-of-the-art econometrics, we analyse the latest available temperature anomaly data. Our results indicate… Click to show full abstract
ABSTRACT This study investigates the issue of whether our Earth’s surface temperature exhibits a stochastic trend. Using state-of-the-art econometrics, we analyse the latest available temperature anomaly data. Our results indicate that both global and hemispheric temperatures may appear to have a stochastic trend when in fact they are stationary around a nonlinear deterministic trend and structural breaks are responsible. Furthermore, the nonlinearity found in the temperature trend is more complex than what has been reported in previous studies.
Journal Title: Applied Economics Letters
Year Published: 2018
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