Modelling Our Changing World

This open access book focuses on the concepts, tools and techniques needed to successfully model ever-changing time-series data. It emphasizes the need for general models to account for the complexities of the modern world and how these can be applied to a range of issues facing Earth, from modelling volcanic eruptions, carbon dioxide emissions and global temperatures, to modelling unemployment rates, wage inflation and population growth.

Except where otherwise noted, this book is licensed under a Creative Commons Attribution 4.0 International License. To view a copy of this licence, visit http: //creativecommons.org/licenses/by/4.0.

Jennifer L. Castle isTutorial Fellow in Economics at Magdalen College, Oxford University, UK and Research Fellow at the Institute for New Economic Thinking at the Oxford Martin School, UK. She has published extensively on general-to-specific econometric methods in modelling linear and non-linear economic time series.

David F. Hendry is Director of the Program in Economic Modelling at the Institute for New Economic Thinking and Co-director of Climate Econometrics, both at the Oxford Martin School, UK and Fellow of Nuffield College, Oxford University, UK. He was knighted in 2009, and received a Lifetime Achievement Award from the Economic and Social Research Council in 2014. He is an Honorary Vice-President and a past President of the Royal Economic Society, a Fellow of the British Academy, the Royal Society of Edinburgh, the Econometric Society, the Academy of Social Sciences, and the Journal of Econometrics, and an Honorary Fellow of the International Institute of Forecasters. He has been awarded eight Honorary Doctorates, is listed by the ISI as one of the world’s 200 most cited economists, is a Thomson Reuters Citation Laureate, and has received the Guy Medal in Bronze from the Royal Statistical Society.