Recent studies into price transmission have recognized the important role played by transport and transaction costs. Threshold models are one approach to accommodate such costs. We develop a generalized Threshold Error Correction Model to test for the presence and form of threshold behavior in...

type="graphical" <p>Small and semi-subsistence farms (SSFs) in the EU play a number of socio-economic roles. They maintain rural welfare, keep rural areas populated, contribute to the rural non-farm economy, and provide environmental public goods such as attractive landscapes. Particularly in the...</p>

In this paper we argue that the standard sequential reduction approach to modelling dynamic relationships may be sub-optimal when long lag lengths are required and especially when the intermediate lags may be less important. A flexible model search approach is adopted using the insights of...