Holt, Matthew T.; Teräsvirta, Timo - School of Economics and Management, University of Aarhus - 2012
This paper examines trends in annual temperature data for the northern and southern hemisphere (1850-2010) by using variants of the shifting-mean autoregressive (SM-AR) model of González and Teräsvirta (2008). Univariate models are first fitted to each series by using the so called QuickShift...