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2 result(s) for "mid-term projections"
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Quantifying the role of internal variability in the temperature we expect to observe in the coming decades
On short (15-year) to mid-term (30-year) time-scales how the Earth's surface temperature evolves can be dominated by internal variability as demonstrated by the global-warming pause or 'hiatus'. In this study, we use six single model initial-condition large ensembles (SMILEs) and the Coupled Model Intercomparison Project 5 (CMIP5) to visualise the role of internal variability in controlling possible observable surface temperature trends in the short-term and mid-term projections from 2019 onwards. We confirm that in the short-term, surface temperature trend projections are dominated by internal variability, with little influence of structural model differences or warming pathway. Additionally we demonstrate that this result is independent of the model-dependent estimate of the magnitude of internal variability. Indeed, and perhaps counter intuitively, in all models a lack of warming, or even a cooling trend could be observed at all individual points on the globe, even under the largest greenhouse gas emissions. The near-equivalence of all six SMILEs and CMIP5 demonstrates the robustness of this result to the choice of models used. On the mid-term time-scale, we confirm that structural model differences and scenario uncertainties play a larger role in controlling surface temperature trend projections than they did on the shorter time-scale. In addition we show that whether internal variability still dominates, or whether model uncertainties and internal variability are a similar magnitude, depends on the estimate of internal variability, which differs between the SMILEs. Finally we show that even out to thirty years large parts of the globe (or most of the globe in MPI-GE and CMIP5) could still experience no-warming due to internal variability.
Machine Learning Algorithm for Mid-Term Projection of the EU Member States’ Indebtedness
The main research question addressed in the paper is related to the possibility of medium-term forecasting of the public debts of the EU member states. The analysis focuses on a broad range of indicators (macroeconomic, fiscal, monetary, global, and convergence) that influence the public debt levels of the EU member states. A machine learning prediction model using random forest regression was approbated with the empirical data. The algorithm was applied in two iterations—a primary iteration with 33 indicators and a secondary iteration with the 8 most significant indicators in terms of their influence and forecasting importance regarding the development of public debt across the EU. The research identifies a change in the medium term (2023–2024) in the group of the four most indebted EU member states, viz., that Spain will be replaced by France, which is an even more systemic economy, and will thus increase the group’s share of the EU’s GDP. The results indicate a logical scenario of rising interest rates with adverse effects for the fiscal imbalances, which will require serious reforms in the public sector of the most indebted EU member states.