Explosive Temperatures

Marc Gronwald

No 10680, CESifo Working Paper Series from CESifo

Abstract: This paper finds that global temperature anomalies are characterised by (temporary) explosiveness, a statistical feature typically found in financial and commodity market data during episodes of extreme price increases. This finding dramatically illustrates the extent temperature changes have already reached. This paper also finds that there are differences across hemispheres: while Northern hemispheric temperature anomalies are clearly found to be explosive, evidence is much weaker in Southern hemispheric data. This finding is attributable to the phenomenon of Arctic amplification. This paper complements recent studies in both climate econometrics and science which find that climate models seem to underestimate this phenomenon.

Keywords: global temperature anomalies; hemispheric temperature anomalies; explosiveness; climate change (search for similar items in EconPapers)
JEL-codes: C12 C22 Q54 (search for similar items in EconPapers)
Date: 2023
New Economics Papers: this item is included in nep-env
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Persistent link: https://EconPapers.repec.org/RePEc:ces:ceswps:_10680

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