On the relationship between GHGs and Global Temperature Anomalies: Multi-level rolling analysis and Copula calibration

Elettra Agliardi, Thomas Alexopoulos () and Christian Cech ()
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Thomas Alexopoulos: Department of Economics, University of Peloponnese, Greece; Department of Economics, University of Bologna, Italy
Christian Cech: University of Applied Sciences BFI, Austria

Working Paper series from Rimini Centre for Economic Analysis

Abstract: The relationship between GHG emissions and global warming is studied through multi-level rolling analysis to assess whether or not there are increasing rates in global change as a result of higher levels of anthropogenic emissions, as we move forward in time. Furthermore, in order to assess whether we observe tail-dependence, representing simultaneous occurrence of extreme events, we employ copula methods. Our main findings do not support views of increasing rates in global climate change as a result of higher levels of emissions. On the contrary, they suggest a constant or even a decreasing effect of emissions on temperature anomalies especially from 2005 onward. At the same time, our copula calibration shows that the Frank copula achieves the best fit. Since the Frank copula is a copula that assigns a low probability to joint extreme events, our analysis does not show tail dependence.

Keywords: GHGs; Global temperature anomalies; Rolling analysis; Copulas (search for similar items in EconPapers)
JEL-codes: C53 C69 Q51 Q54 (search for similar items in EconPapers)
Date: 2017-02
New Economics Papers: this item is included in nep-agr, nep-ene and nep-env
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http://www.rcea.org/RePEc/pdf/wp17-05.pdf

Related works:
Journal Article: On the Relationship Between GHGs and Global Temperature Anomalies: Multi-level Rolling Analysis and Copula Calibration (2019)
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Persistent link: https://EconPapers.repec.org/RePEc:rim:rimwps:17-05

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