Abstract (from http://journals.ametsoc.org/doi/abs/10.1175/JHM-D-13-0167.1): Drought indices are often used for monitoring interannual variability in macroscale hydrology. However, the diversity of drought indices raises several issues: 1) which indices perform best and where; 2) does the incorporation of potential evapotranspiration (PET) in indices strengthen relationships, and how sensitive is the choice of PET methods to such results; 3) what additional value is added by using higher-spatial-resolution gridded climate layers; and 4) how have observed relationships changed through time. Standardized precipitation index, standardized precipitation evapotranspiration index (SPEI), Palmer drought severity index, and water balance [...]
