A statistical analysis of multiple temperature proxies: Are reconstructions of surface temperatures over the last 1000 years reliable?
Blakeley B. McShane, Abraham J. Wyner

TL;DR
This paper critically evaluates the reliability of temperature reconstructions over the last 1000 years using proxies, finding they lack significant predictive power and produce highly variable results, casting doubt on their historical accuracy.
Contribution
It introduces a statistical framework to assess proxy-based temperature reconstructions and demonstrates their limited predictive reliability compared to null models.
Findings
Proxies do not predict temperature significantly better than random series.
Different models yield vastly different historical temperature reconstructions.
Proxies fail to predict recent temperature extremes, questioning their historical validity.
Abstract
Predicting historic temperatures based on tree rings, ice cores, and other natural proxies is a difficult endeavor. The relationship between proxies and temperature is weak and the number of proxies is far larger than the number of target data points. Furthermore, the data contain complex spatial and temporal dependence structures which are not easily captured with simple models. In this paper, we assess the reliability of such reconstructions and their statistical significance against various null models. We find that the proxies do not predict temperature significantly better than random series generated independently of temperature. Furthermore, various model specifications that perform similarly at predicting temperature produce extremely different historical backcasts. Finally, the proxies seem unable to forecast the high levels of and sharp run-up in temperature in the 1990s…
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