An empirical investigation of Begg's rational expectations investment function

1992 ◽  
Vol 20 (4) ◽  
pp. 85-85
Author(s):  
John Leonard ◽  
Joseph Prinzinger ◽  
Fidelis Akagha
2018 ◽  
Vol 4 (1) ◽  
pp. 101-116
Author(s):  
Salman Ahmed Shaikh ◽  
Mohd Adib Ismail ◽  
Abdul Ghafar Ismail ◽  
Shahida Shahimi ◽  
Muhammad Hakimi Mohd. Shafiai

This study examines the consumption behaviour in Organization of Islamic Cooperation (OIC) countries. It presents empirical evidence on rational expectations permanent income hypothesis (RE-PIH) and tests whether the phenomena of myopia, liquidity constraints or loss aversion impede forward-looking consumption behaviour. It also attempts to measure the intertemporal elasticity of substitution. The empirical evidence defies the existence of consumption smoothing phenomena as postulated in RE-PIH. The results support loss aversion. The response of consumption to unexpected income changes is statistically significant in only one-third of the countries. In contrast, the response of consumption to expected income changes is statistically as well as economically significant in as many countries. The intertemporal elasticity of substitution is also statistically insignificant in most of the countries and the elasticity is generally not positive. For the Islamic finance industry, the results help in explaining the low penetration of equity-based risk sharing instruments. From the policy perspective, the excess sensitivity of consumption to income suggests that redistribution efforts to enhance incomes of poor could help in enhancing their consumption levels.  


1979 ◽  
Vol 12 (2) ◽  
pp. 82-86
Author(s):  
Karen Friedel ◽  
Jo-Ida Hansen ◽  
Thomas J. Hummel ◽  
Warren F. Shaffer

Crisis ◽  
2012 ◽  
Vol 33 (2) ◽  
pp. 106-112 ◽  
Author(s):  
Christopher M. Bloom ◽  
Shareen Holly ◽  
Adam M. P. Miller

Background: Historically, the field of self-injury has distinguished between the behaviors exhibited among individuals with a developmental disability (self-injurious behaviors; SIB) and those present within a normative population (nonsuicidal self-injury; NSSI),which typically result as a response to perceived stress. More recently, however, conclusions about NSSI have been drawn from lines of animal research aimed at examining the neurobiological mechanisms of SIB. Despite some functional similarity between SIB and NSSI, no empirical investigation has provided precedent for the application of SIB-targeted animal research as justification for pharmacological interventions in populations demonstrating NSSI. Aims: The present study examined this question directly, by simulating an animal model of SIB in rodents injected with pemoline and systematically manipulating stress conditions in order to monitor rates of self-injury. Methods: Sham controls and experimental animals injected with pemoline (200 mg/kg) were assigned to either a low stress (discriminated positive reinforcement) or high stress (discriminated avoidance) group and compared on the dependent measures of self-inflicted injury prevalence and severity. Results: The manipulation of stress conditions did not impact the rate of self-injury demonstrated by the rats. The results do not support a model of stress-induced SIB in rodents. Conclusions: Current findings provide evidence for caution in the development of pharmacotherapies of NSSI in human populations based on CNS stimulant models. Theoretical implications are discussed with respect to antecedent factors such as preinjury arousal level and environmental stress.


2006 ◽  
Author(s):  
Robyn J. Geelhoed ◽  
Julia C. Phillips ◽  
Ann R. Fischer ◽  
Elaine Shpungin ◽  
Younnjung Gong

2010 ◽  
Author(s):  
Kari L. Shaw ◽  
Charles Bermingham

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