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Slice enough onion and chop enough carrot to measure 1/4 cup each. In a 1 1/2- to 2-quart saucepan cook onions and carrots in 1 tablespoon oil over moderate heat 2 to 3 minutes, or until softened but not browned. Add wine, thyme, bay leaf, and pepper and simmer 3 minutes. Transfer mixture to a bowl and cool. In a heavy-duty sealable plastic bag combine ribs and wine mixture. Marinate ribs, chilled, turning them occasionally, at least 8 hours and up to 1 day.
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Preheat oven to 300°F.
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Remove ribs from marinade and pat dry. Pour marinade through a sieve into a small saucepan and discard solids. Bring marinade to a boil, skimming froth, and remove pan from heat.
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Season ribs well with salt and pepper and lightly dust with flour. In a heavy ovenproof skillet or flameproof casserole large enough to hold ribs in one layer heat remaining 1/4 cup oil over moderately high heat until it just begins to give off a faint white smoke. Brown ribs, turning them occasionally, and transfer to a plate. Pour off oil from skillet or casserole and add ribs and stock.
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Pour marinade through a fine sieve into skillet or casserole and bring liquid to a simmer. Cover skillet or casserole with foil or a lid and braise ribs in middle of oven (add water after 3 hours if most of braising liquid is evaporated) 4 hours, or until meat gives no resistance when pierced with a fork. Pour braising liquid through a sieve into a bowl and skim fat.
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Serve short ribs with braising liquid and vegetable ragout.