Acknowledgments

We are very grateful to an editor, two anonymous referees, and conference and seminar participants to seminar participants at 11th CFE-2017 London, 2nd Conference on Econometric Models of Climate Change, Oxford-2017, IAAE-2019, Cyprus and to Phil Jones, David Lister, and Igor Polyakov for their valuable help in collecting and interpreting the data. The financial support from: Gobierno de Aragón and European Regional Development Fund (ERDF, EU) funds under grant, LMP71-18; Spanish Ministerio de Ciencia e Innovación, Agencia Española de Investigación MCIN/AEI/10.13039/501100011033 and European Regional Development Fund (ERDF, EU) under grants PID2020-114646RB-C44, PID2023-150095NB-C44, PID2023-147593NB-I00, and CEX2021-001181 ([María de Maeztu]; Spanish Ministerio de Ciencia e Innovación, Agencia Estatal de Investigación MCIN/AEI/10.13039/501100011033 and Unión Europea NextGenerationEU/PRTR, under grant with reference TED2021-129784B-I00; Comunidad de Madrid under grands grants EPUC3M11 and V PRICIT), is gratefully acknowledged.