Ecosystems as climate controllers – biotic feedbacks (a review)

There is good evidence that higher global temperature will promote a rise of green house gas levels, implying a positive feedback which will increase the effect of the anthropogenic emissions on global temperatures. Here we present a review about the results which deal with the possible feedbacks between ecosystems and the climate system. There are a lot of types of feedback which are classified. Some circulation models are compared to each other regarding their role in interactive carbon cycle.

Implicit rating: A potential new method to alert crisis on the interbank lending market

A new measure called “implicit rating” is introduced which might be a component of an early warning system. The proposed methodology relies on the aggregation of experts’ knowledge hidden in the transactional data of the interbank market of unsecured loans. Banks are simultaneously assessing the creditworthiness of each other which is reflected in the partner limits and in the interest rates. In the Hungarian interbank market the overall trading volume and the average interest rate did not show any negative trends before the crisis of 2008, however the average implicit partner limit started to decrease several months earlier, hence it might serve as a stress indicator.