Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/322487 
Year of Publication: 
2025
Series/Report no.: 
CESifo Working Paper No. 11925
Publisher: 
CESifo GmbH, Munich
Abstract: 
This paper uses fractional integration methods to obtain comprehensive evidence on the evolution of the number of hot days, defined as those with temperatures above 35 °C, in 54 countries from various regions of the world over the period from 1950 to 2022. The variable analysed is a key indicator of global warming, and the chosen modelling approach is most informative about the behaviour of the series as it provides evidence on the possible presence of time trends, on whether or not mean reversion occurs, and on the degree of persistence. In brief, the findings indicate the presence of considerable heterogeneity among the countries studied and highlight the importance of tailored climate policies based on both global and local factors.
Subjects: 
number of hot days
climate change
persistence
fractional integration
JEL: 
C22
Q54
Document Type: 
Working Paper
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