Banking Union: Ireland vs. Nevada, an illustration of the importance of an integrated banking system. CEPS Commentary, 18 October 2012

Despite their surprising similarities – in size and their housing booms – Ireland and the American state of Nevada sharply parted company when it came to who bore responsibility for bailing out their failed banks when the booms turned to bust. This latest Commentary by Daniel Gros vividly illustrates the importance of that difference and thus the shock-absorbing capacity of an integrated banking system and a banking union.

An Integrated Traffic and Pedestrian Model_based Vision System

The paper describes a novel integrated vision system in which two autonomous visual modules are combined to interpret a dynamic scene. The first module employs a 3D model-based scheme to track rigid objects such as vehicles. The second module uses a 2D deformable model to track non-rigid objects such as people. The principal contribution is a novel method for handling occlusion between objects within the context of this hybrid tracking system. The practical aim of the work is to derive a scene description that is sufficiently rich to be used in a range of surveillance tasks. The paper describes each of the modules in outline before detailing the method of integration and the handling of occlusion in particular. Experimental results are presented to illustrate the performance of the system in a dynamic outdoor scene involving cars and people.

Ice supersaturation in the ECMWF integrated forecast system

A parametrization for ice supersaturation is introduced into the ECMWF Integrated Forecast System (IFS), compatible with the cloud scheme that allows partial cloud coverage. It is based on the simple, but often justifiable, diagnostic assumption that the ice nucleation and subsequent depositional growth time-scales are short compared to the model time step, thus supersaturation is only permitted in the clear-sky portion of the grid cell. Results from model integrations using the new scheme are presented, which is demonstrated to increase upper-tropospheric humidity, decrease high-level cloud cover and, to a much lesser extent, cloud ice amounts, all as expected from simple arguments. Evaluation of the relative distribution of supersaturated humidity amounts shows good agreement with the observed climatology derived from in situ aircraft observations. With the new scheme, the global distribution of frequency of occurrence of supersaturated regions compares well with remotely sensed microwave limb sounder (MLS) data, with the most marked errors of underprediction occurring in regions where the model is known to underpredict deep convection. Finally, it is also demonstrated that the new scheme leads to improved predictions of permanent contrail cloud over southern England, which indirectly implies upper-tropospheric humidity fields are better represented for this region.