Countercyclical regulation in Solvency II: merits and flaws. CEPS Commentary, 25 June 2012

October 2011 saw the latest draft of Solvency II, the European Union’s code for regulation of the insurance industry. This commentary, a collective effort by a group of academics specializing in financial, banking and insurance institutions, argues that the latest proposals need to be drafted again, urgently.

Contrasting Seasonal Survivorship of Two Migratory Songbirds Wintering in Threatened Mangrove Forests

Long-distance migrants wintering in tropical regions face a number of critical conservation threats throughout their lives, but seasonal estimates of key demographic parameters such as winter survival are rare. Using mist-netting-based mark-recapture data collected in coastal Costa Rica over a six-year period, we examined variation in within- and between-winter survivorship of the Prothonotary Warbler (Protonotaria citrea; 753 young and 376 adults banded), a declining neotropical habitat specialist that depends on threatened mangrove forests during the nonbreeding season. We derived parallel seasonal survivorship estimates for the Northern Waterthrush (Seiurus noveboracensis; 564 young and 93 adults banded), a cohabitant mangrove specialist that has not shown the same population decline in North America, to assess whether contrasting survivorship might contribute to the observed differences in the species’ population trajectories. Although average annual survival probability was relatively similar between the two species for both young and adult birds, monthly estimates indicated that relative to Northern Waterthrush, Prothonotary Warblers exhibited: greater interannual variation in survivorship, especially within winters; greater variation in survivorship among the three study sites; lower average between-winter survivorship, particularly among females, and; a sharp decline in between-winter survivorship from 2003 to 2009 for both age groups and both sexes. Rather than identifying one seasonal vital rate as a causal factor of Prothonotary Warbler population declines, our species comparison suggests that the combination of variable within-winter survival with decreasing between-winter survival demands a multi-seasonal approach to the conservation of this and other tropical-wintering migrants.

Declines of Aerial Insectivores in North America Follow a Geographic Gradient

North American birds that feed on aerial insects are experiencing widespread population declines. An analysis of the North American Breeding Bird Survey trend estimates for 1966 to 2006 suggests that declines in this guild are significantly stronger than in passerines in general. The pattern of decline also shows a striking geographical gradient, with aerial insectivore declines becoming more prevalent towards the northeast of North America. Declines are also more acute in species that migrate long distances compared to those that migrate short distances. The declines become manifest, almost without exception, in the mid 1980s. The taxonomic breadth of these downward trends suggests that declines in aerial insectivore populations are linked to changes in populations of flying insects, and these changes might be indicative of underlying ecosystem changes.

Edaphic influences on plant community adaptation in the Chiquibul forest of Belize

Edaphic variables figure significantly in plant community adaptations in tropical ecosystems but are often difficult to resolve because of the confounding influence of climate. Within the Chiquibul forest of Belize, large areas of Ultisols and Inceptisols occur juxtaposed within a larger zone of similar climate, permitting unambiguous assessment of edaphic contributions to forest composition. Wet chemical analyses, X-ray diffraction and X-ray fluorescence spectroscopy were employed to derive chemical (pH, exchangeable cations, CEC, total and organic C, total trace elements) and physical (texture, mineralogy) properties of four granite-derived Ustults from the Mountain Pine Ridge plateau and four limestone-derived Ustepts from the San Pastor region. The soils of these two regions support two distinct forests, each possessing a species composition reflecting the many contrasting physicochemical properties of the underlying soil. Within the Mountain Pine Ridge forest, species abundance and diversity is constrained by nutrient deficiencies and water-holding limitations imposed by the coarse textured, highly weathered Ultisols. As a consequence, the forest is highly adapted to seasonal drought, frequent fires and the significant input of atmospherically derived nutrients. The nutrient-rich Inceptisols of the San Pastor region, conversely, support an abundant and diverse evergreen forest, dominated by Sabal mauritiiformis, Cryosophila stauracantha and Manilkara spp. Moreover, the deep, fine textured soils in the depressions of the karstic San Pastor landscape collect and retain during the wet season much available water, thereby serving as refugia during particularly long periods of severe drought. To the extent that the soils of the Chiquibul region promote and maintain forest diversity, they also confer redundancy and resilience to these same forests and, to the broader ecosystem, of which they are a central part. (C) 2005 Elsevier B.V. All rights reserved.