Multimodel climate and variability of the stratosphere

The stratospheric climate and variability from simulations of sixteen chemistry‐climate models is evaluated. On average the polar night jet is well reproduced though its variability is less well reproduced with a large spread between models. Polar temperature biases are less than 5 K except in the Southern Hemisphere (SH) lower stratosphere in spring. The accumulated area of low temperatures responsible for polar stratospheric cloud formation is accurately reproduced for the Antarctic but underestimated for the Arctic. The shape and position of the polar vortex is well simulated, as is the tropical upwelling in the lower stratosphere. There is a wide model spread in the frequency of major sudden stratospheric warnings (SSWs), late biases in the breakup of the SH vortex, and a weak annual cycle in the zonal wind in the tropical upper stratosphere. Quantitatively, “metrics” indicate a wide spread in model performance for most diagnostics with systematic biases in many, and poorer performance in the SH than in the Northern Hemisphere (NH). Correlations were found in the SH between errors in the final warming, polar temperatures, the leading mode of variability, and jet strength, and in the NH between errors in polar temperatures, frequency of major SSWs, and jet strength. Models with a stronger QBO have stronger tropical upwelling and a colder NH vortex. Both the qualitative and quantitative analysis indicate a number of common and long‐standing model problems, particularly related to the simulation of the SH and stratospheric variability.

The long-term price-earnings ratio

price-earnings ratio;value premium;arbitrage trading rule;UK stock returns;contrarian investment Abstract:  The price-earnings effect has been thoroughly documented and is the subject of numerous academic studies. However, in existing research it has almost exclusively been calculated on the basis of the previous year's earnings. We show that the power of the effect has until now been seriously underestimated due to taking too short-term a view of earnings. Looking at all UK companies since 1975, using the traditional P/E ratio we find the difference in average annual returns between the value and glamour deciles to be 6%. This is similar to other authors' findings. We are able to almost double the value premium by calculating the P/E ratio using earnings averaged over the previous eight years.

High frequency variability of the Atlantic meridional overturning circulation

We compare the variability of the Atlantic meridional overturning circulation (AMOC) as simulated by the coupled climate models of the RAPID project, which cover a wide range of resolution and complexity, and observed by the RAPID/MOCHA array at about 26N. We analyse variability on a range of timescales, from five-daily to interannual. In models of all resolutions there is substantial variability on timescales of a few days; in most AOGCMs the amplitude of the variability is of somewhat larger magnitude than that observed by the RAPID array, while the time-mean is within about 10% of the observational estimate. The amplitude of the simulated annual cycle is similar to observations, but the shape of the annual cycle shows a spread among the models. A dynamical decomposition shows that in the models, as in observations, the AMOC is predominantly geostrophic (driven by pressure and sea-level gradients), with both geostrophic and Ekman contributions to variability, the latter being exaggerated and the former underrepresented in models. Other ageostrophic terms, neglected in the observational estimate, are small but not negligible. The time-mean of the western boundary current near the latitude of the RAPID/MOCHA array has a much wider model spread than the AMOC does, indicating large differences among models in the simulation of the wind-driven gyre circulation, and its variability is unrealistically small in the models. In many RAPID models and in models of the Coupled Model Intercomparison Project Phase 3 (CMIP3), interannual variability of the maximum of the AMOC wherever it lies, which is a commonly used model index, is similar to interannual variability in the AMOC at 26N. Annual volume and heat transport timeseries at the same latitude are well-correlated within 15--45N, indicating the climatic importance of the AMOC. In the RAPID and CMIP3 models, we show that the AMOC is correlated over considerable distances in latitude, but not the whole extent of the north Atlantic; consequently interannual variability of the AMOC at 50N, where it is particularly relevant to European climate, is not well-correlated with that of the AMOC at 26N, where it is monitored by the RAPID/MOCHA array.

Multi-satellite observed responses of precipitation and its extremes to interannual climate variability

The consistency of precipitation variability estimated from the multiple satellite-based observing systems is assessed. There is generally good agreement between TRMM TMI, SSM/I, GPCP and AMSRE datasets for the inter-annual variability of precipitation since 1997 but the HOAPS dataset appears to overestimate the magnitude of variability. Over the tropical ocean the TRMM 3B42 dataset produces unrealistic variabilitys. Based upon deseasonalised GPCP data for the period 1998-2008, the sensitivity of global mean precipitation (P) to surface temperature (T) changes (dP/dT) is about 6%/K, although a smaller sensitivity of 3.6%/K is found using monthly GPCP data over the longer period 1989-2008. Over the tropical oceans dP/dT ranges from 10-30%/K depending upon time-period and dataset while over tropical land dP/dT is -8 to -11%/K for the 1998-2008 period. Analyzing the response of the tropical ocean precipitation intensity distribution to changes in T we find the wetter area P shows a strong positive response to T of around 20%/K. The response over the drier tropical regimes is less coherent and varies with datasets, but responses over the tropical land show significant negative relationships over an interannual time-scale. The spatial and temporal resolutions of the datasets strongly influence the precipitation responses over the tropical oceans and help explain some of the discrepancy between different datasets. Consistency between datasets is found to increase on averaging from daily to 5-day time-scales and considering a 1o (or coarser) spatial resolution. Defining the wet and dry tropical ocean regime by the 60th percentile of P intensity, the 5-day average, 1o TMI data exhibits a coherent drying of the dry regime at the rate of -20%/K and the wet regime becomes wetter at a similar rate with warming.

Resolving the spatial variability of soil N using fractions of soil organic matter

The spatial variability of soil nitrogen (N) mineralisation has not been extensively studied, which limits our capacity to make N fertiliser recommendations. Even less attention has been paid to the scale-dependence of the variation. The objective of this research was to investigate the scale-dependence of variation of mineral N (MinN, N–NO3− plus N–NH4+) at within-field scales. The study was based on the spatial dependence of the labile fractions of SOM, the key fractions for N mineralisation. Soils were sampled in an unbalanced nested design in a 4-ha arable field to examine the distribution of the variation of SOM at 30, 10, 1, and 0.12 m. Organic matter in free and intra-aggregate light fractions (FLF and IALF) was extracted by physical fractionation. The variation occurred entirely within 0.12 m for FLF and at 10 m for IALF. A subsequent sampling on a 5-m grid was undertaken to link the status of the SOM fractions to MinN, which showed uncorrelated spatial dependence. A uniform application of N fertiliser would be suitable in this case. The failure of SOM fractions to identify any spatial dependence of MinN suggests that other soil variables, or crop indicators, should be tested to see if they can identify different N supply areas within the field for a more efficient and environmentally friendly N management.

Evidence for the chaotic origin of Northern Annular Mode variability

Exponential spectra are found to characterize variability of the Northern Annular Mode (NAM) for periods less than 36 days. This corresponds to the observed rounding of the autocorrelation function at lags of a few days. The characteristic persistence timescales during winter and summer is found to be ∼5 days for these high frequencies. Beyond periods of 36 days the characteristic decorrelation timescale is ∼20 days during winter and ∼6 days in summer. We conclude that the NAM cannot be described by autoregressive models for high frequencies; the spectra are more consistent with low-order chaos. We also propose that the NAM exhibits regime behaviour, however the nature of this has yet to be identified.

The variability of tropical ice cloud properties as a function of the large-scale context from ground-based radar-lidar observations over Darwin, Australia

The high complexity of cloud parameterizations now held in models puts more pressure on observational studies to provide useful means to evaluate them. One approach to the problem put forth in the modelling community is to evaluate under what atmospheric conditions the parameterizations fail to simulate the cloud properties and under what conditions they do a good job. It is the ambition of this paper to characterize the variability of the statistical properties of tropical ice clouds in different tropical "regimes" recently identified in the literature to aid the development of better process-oriented parameterizations in models. For this purpose, the statistical properties of non-precipitating tropical ice clouds over Darwin, Australia are characterized using ground-based radar-lidar observations from the Atmospheric Radiation Measurement (ARM) Program. The ice cloud properties analysed are the frequency of ice cloud occurrence, the morphological properties (cloud top height and thickness), and the microphysical and radiative properties (ice water content, visible extinction, effective radius, and total concentration). The variability of these tropical ice cloud properties is then studied as a function of the large-scale cloud regimes derived from the International Satellite Cloud Climatology Project (ISCCP), the amplitude and phase of the Madden-Julian Oscillation (MJO), and the large-scale atmospheric regime as derived from a long-term record of radiosonde observations over Darwin. The vertical variability of ice cloud occurrence and microphysical properties is largest in all regimes (1.5 order of magnitude for ice water content and extinction, a factor 3 in effective radius, and three orders of magnitude in concentration, typically). 98 % of ice clouds in our dataset are characterized by either a small cloud fraction (smaller than 0.3) or a very large cloud fraction (larger than 0.9). In the ice part of the troposphere three distinct layers characterized by different statistically-dominant microphysical processes are identified. The variability of the ice cloud properties as a function of the large-scale atmospheric regime, cloud regime, and MJO phase is large, producing mean differences of up to a factor 8 in the frequency of ice cloud occurrence between large-scale atmospheric regimes and mean differences of a factor 2 typically in all microphysical properties. Finally, the diurnal cycle of the frequency of occurrence of ice clouds is also very different between regimes and MJO phases, with diurnal amplitudes of the vertically-integrated frequency of ice cloud occurrence ranging from as low as 0.2 (weak diurnal amplitude) to values in excess of 2.0 (very large diurnal amplitude). Modellers should now use these results to check if their model cloud parameterizations are capable of translating a given atmospheric forcing into the correct statistical ice cloud properties.

Seasonality and interannual variability of the westerly jet in the Tibetan Plateau region

In this study, 40-yr ECMWF Re-Analysis (ERA-40) data are used for the description of the seasonal cycle and the interannual variability of the westerly jet in the Tibetan Plateau region. To complement results based on the analysis of monthly mean horizontal wind speeds, an occurrence-based jet climatology is constructed by identifying the locations of the jet axes at 6-hourly intervals throughout 1958–2001. Thus, a dataset describing the highly transient and localized features of jet variability is obtained. During winter and summer the westerly jet is located, respectively, to the south and north of the Tibetan Plateau. During the spring and autumn seasons there are jet transitions from south to north and vice versa. The median dates for these transitions are 28 April and 12 October. The spring transition is associated with large interannual variations, while the fall transition occurs more reliably within a 3-week period. The strength of the jet exhibits a peculiar seasonal cycle. During northward migration in April/May, the jet intensity weakens and its latitudinal position varies largely. In some springs, there are several transitions and split configurations occur before the jet settles in its northern summer position. In June, a well-defined and unusually strong jet reappears at the northern flanks of the Tibetan Plateau. In autumn, the jet gradually but reliably recedes to the south and is typically more intense than in spring. The jet transitions between the two preferred locations follow the seasonal latitudinal migration of the jet in the Northern Hemisphere. An analysis of interannual variations shows the statistical relationship between the strength of the summer jet, the tropospheric meridional temperature gradient, and the all-India rainfall series. Both this analysis and results from previous studies point to the particular dynamical relevance of the onsetting Indian summer monsoon precipitation and the associated diabatic heating for the formation of the strong summer jet. Finally, an example is provided that illustrates the climatological significance of the jet in terms of the covariation between the jet location and the spatial precipitation distribution in central Asia.