Econometrics, economics, finance, random rants.
Tuesday, September 9, 2025
RIP ARCUS
Monday, September 1, 2025
The Second of Two Sea Ice Trilogies: Real Time
The second trilogy, below, this time without Rudebusch, also treats Arctic sea ice forecasting, but from a real-time, fixed-target (September), perspective. All of the work came under the umbrella of the Arctic Research Consortium of the United States (ARCUS), and its Sea Ice Prediction Network (SIPN), which oversaw the Sea Ice Outlook (SIO).
More on ARCUS in the next post. But for now let's look at the second trilogy.
The basic feature-engineered real-time forecasting approach is proposed in
Diebold, F.X. and Gobel, M. (2022), “A Benchmark Model for Fixed-Target Arctic Sea Ice Forecasting,” Economics Letters, 215, 110478,
and it is compared to a feature-engineered real-time machine learning approach in
Diebold, F.X., Goebel, M., and Goulet Coulombe, P. (2023), “Assessing and Comparing Fixed-Target Forecasts of Arctic Sea Ice: Glide Charts for Feature-Engineered Linear Regression and Machine Learning Models,” Energy Economics, 124, 106833.
The trilogy culminates with a 61-author (must be real science!) assessment of June-September real-time Arctic sea ice forecasting across many models and years, including the above Diebold et al approach:
Bushuk, M., et al. (2024), “Predicting September Arctic Sea Ice: A Multi-Model Seasonal Skill Comparison,” Bulletin of the American Meteorological Society, 105, 1170-1203.
The First of Two Arctic Sea Ice Trilogies
I never bogged on the Arctic sea ice "trilogy" below with Glenn Rudebusch et al., certainly not for lack of interest, but rather because much of the research was done when the blog was dormant in the early 2020s. The trilogy addresses the timing of the first ice-free Arctic (IFA) September -- the early IFA (late 2030s) robustly predicted by statistical time-series models; why, in contrast, the large-scale structural climate models tend to get things wrong with a much later IFA; and why you should care. I'm posting on it now not only because I simply think it's interesting and important (and I hope you will too), but also because it complements and contrasts with my next post (on a related but different Arctic sea ice trilogy). Stay tuned!
---> Compares statistical and large-scale climate model forecasts, and finds that the stat models forecast a much earlier near-ice-free Arctic.
---> Drills down much deeper on the DR (2022) statistical models, exploring many variations (extent, area, thickness, volume; polynomial vs carbon trends; much more...), establishing robustness of the DR (2022) results and providing more refined forecasts.
---> Asks WHY the large-scale models fail so badly in DR (2022) and traces the failure to insufficient carbon sensitivity of sea ice in the large-scale models.
Tuesday, January 7, 2020
Ice-Free Arctic Summers are Coming VERY Soon
Here's a new D&R to start it off:
"Probability Assessments of an Ice-Free Arctic:
Comparing Statistical and Climate Model Projections"
by
Francis X. Diebold and Glenn D. Rudebusch
arXiv:1912.10774 [stat.AP, econ.EM].
The downward trend in Arctic sea ice is a key factor determining the pace and intensity of future global climate change; moreover, declines in sea ice can have a wide range of additional environmental and economic consequences. Based on several decades of satellite data, in a new paper Glenn Rudebusch and I provide statistical forecasts of Arctic sea ice extent during the rest of this century (Diebold and Rudebusch, "Probability Assessments of an Ice-Free Arctic: Comparing Statistical and Climate Model Projections", arXiv:1912.10774 [stat.AP, econ.EM]). Our results indicate that sea ice is diminishing at an increasing rate, in sharp contrast to average projections from the CMIP5 global climate models, which foresee a gradual slowing of sea ice loss even in high carbon emissions scenarios. Our long-range statistical projections also deliver probability assessments of the timing of an ice-free Arctic. This analysis indicates almost a 60 percent chance of a seasonally ice-free Arctic Ocean in the 2030s -- much earlier than the average projection from global climate models.