Abstract
Extremal events are difficult to model since it is difficult to characterize formally those events. The 2003 heat wave in Europe was not characterized by very high temperatures, but mainly the fact that night temperature were no cool enough for a long period of time. Hence, simulation of several models (either with heavy tailed noise or long range dependence) yield different estimations for the return period of that extremal event.
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The financial support from the AXA Chair on Large Risks in Insurance (Fondation du Risque) is gratefully acknowledged.
An erratum to this article can be found at http://dx.doi.org/10.1007/s10584-011-0262-y
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Charpentier, A. On the return period of the 2003 heat wave. Climatic Change 109, 245–260 (2011). https://doi.org/10.1007/s10584-010-9944-0
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DOI: https://doi.org/10.1007/s10584-010-9944-0