When the growth of aggregate consumption exhibits no serial correlation, the socially efficient discount rate is independent of the time horizon, because the wealth effect and the precautionary effect are proportional to the time horizon. In this paper, we consider alternative growth processes: an AR(1), a Brownian motion with unknown trend or volatility, a two-state regimeswitching model, and ...

It is well-known that parameter estimates and forecasts are sensitive to assumptions about the tail behavior of the error distribution. In this paper we develop an approach to sequential inference that also simultaneously estimates the tail of the accompanying error distribution. Our simulation-based approach models errors with a tν-distribution and, as new data arrives, we sequentially compute...

A total of 146 Menz and Horro lambs of both sexes were serially slaughtered and dissected at 5 different stages of growth (i.e. at 1, 3, 6, 9 and 12 months of age) to define the pattern of growth and partitioning of fat among body depots of indigenous Ethiopian Menz and Horro sheep breeds. The GLM procedure of SAS and an allometric growth equation were used to assess the effects of various fact...

Asymmetry and fat-tail are both stylized facts of financial return data. Many asymmetric and fat-tailed distributions have been used to model the innovation in autoregressive conditional heteroskedasticity (ARCH) models. This article introduces two more distributions from systems of frequency curves into the ARCH context: Pearson’s Type IV and Johnson’s SU. Both distributions have two shape par...

the relationship between live body weight, body length, girth circumference, animal hight, upper, middle as well as lower width of fat-tail, fat-tail length, fat-tail gap length, fat-tail depth and fat-tail circumference along with fat-tail weight were determined using records of 731 loribakhtiari sheep. principal component and least square analyses were applied to solve the collinearity instab...

Rambouillet X Finn crossbred wether lambs were evaluated for differences in longissimus muscle cross-sectional area and overlaying subcutaneous adipose tissue thickness resulting from the use of the beta-agonist clenbuterol. Treatment groups received 0 and 2 ppm clenbuterol in the diet for approximately 40 d prior to slaughter. Longissimus muscle cross-sectional area and fat depth over the 12th...

The effect of body fatness on the fasting heat production and energetic efficiency of adult sheep was studied. Energy balance and heat production were determined in adult wether sheep at three fatness levels given a diet of grass hay and maize at four feeding levels, including fasting, in open-circuit respiration chambers. The sheep weighted approximately 60 kg at the start and were fed over a ...

An unusually large number of cases of Epizootic hemorrhagic disease (EHD) were observed in United States cattle and white-tailed deer in the summer and fall of 2012. USDA APHIS Veterinary Services area offices were asked to report on foreign animal disease investigations and state diagnostic laboratory submissions which resulted in a diagnosis of EHD based on positive PCR results. EHD was repor...

Sixteen dry ewes of the fat-tailed Barbary breed were used to formulate prediction equations of body water, fat, protein and energy content from the live body weight (BW) and the dilution space of deuterium oxide (SD O). Ewes were injected 2 with 0.5 g D O/kg BW and four blood samples collected after infusion. The D O content of blood water was determined by 2 2 infra-red spectrometry. Ewes wer...