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This paper proposes a shot change detection method and a camerawork estimation method for frame displacement correction of old films. Phase-only correlation is used for the shot change detection. The threshold of the shot change detection is determined mathematically using the properties of the phase-only correlation in the proposed method. Camerawork is estimated by lowpass filtering the frame displacement value. Experimental results show that the proposed method can detect the shot changes accurately and estimate the camerawork. Visual inspection shows that the frame displacement is significantly reduced by the proposed method.