TWO-SECTOR STOCHASTIC GROWTH MODELS *

This paper develops the study of two-sector growth models of the form introduced by Arrow and Kurz (1970). We extend their deterministic model by allowing the population process to become random and by allowing the population to choose their level of effort. We find that under suitable conditions the government is able to tax and borrow in such as way as to induce the private sector to invest and consume along the path which the government considers optimal. Moreover, we also find that in some important cases the model can be solved explicitly in closed form, to the extent that we can write down expressions for tax rates and interest rates. This leads to new one-factor interest rate models, with related taxation policies; numerical examples show very reasonable behaviour. Copyright Blackwell Publishing Ltd/University of Adelaide and Flinders University 2005..

Substituição do feno de coastcross por casca de soja na alimentação de cabras em lactação Replacement of coastcross hay by soybean hulls in diets for lactating goats

Objetivou-se com este trabalho verificar a resposta de cabras em lactação alimentadas com dietas contendo casca de soja em substituição ao feno de coastcross. Trinta e seis cabras (38±5 dias em lactação; 2,1±0,4 kg/dia) foram distribuídas em delineamento experimental de blocos completos casualizados e confinadas por oito semanas. As dietas foram compostas de 50% de volumoso e 50% de concentrado e com o mesmo teor de fibra em detergente neutro. A casca de soja substituiu o feno de coastcross em 0, 33, 67 ou 100% da matéria seca (MS). O consumo de matéria seca e a eficiência alimentar apresentaram resposta quadrática aos teores de casca de soja na dieta. A produção de leite e a variação do peso corporal não foram alteradas, porém a concentração de gordura e lactose do leite aumentou e os tempos gastos com ruminação e mastigação decresceram com a inclusão da casca de soja na dieta. A casca de soja pode substituir totalmente o feno de coastcross em dietas para cabras em lactação, pois essa substituição não prejudica a produção de leite e aumenta o teor de gordura e lactose do leite. Em comparação ao feno picado de coastcross, a casca de soja apresenta menor efetividade em estimular a ruminação e a mastigação.<br>The objective of this experiment was to verify the response of lactating goats fed diets with different levels (content) of soybean hulls replacing coastcross hay (Cynodon sp.) on performance. Thirty-six lactating Saanen goats (38±5 days of lactation; 2.1±0.4 kg/day) were assigned to a randomized complete blocks design and housed for 8 weeks. Goats were fed diets of 50% roughage and 50% concentrate, but with the same amount of neutral detergent fiber. Soybean hulls replaced hay by 0, 33, 67 or 100% of the dry matter (DM). Dry matter and NDF intake and feed efficiency showed a quadratic response to the levels of soybean hulls in the diet. Milk yield and body weight variations did not change; however, milk fat, lactose and total solids concentration increased while time spent with rumination and chewing decreased, when soybean hulls were added to the diet. Soybean hulls can replace entirely coastcross hay in diets for lactating goats, with no detrimental effect on milk yield or with an increase on milk fat and lactose concentration. Compared with chopped coastcross hay, soybean hulls show less effectiveness to stimulate rumination and chewing