The review of the European Union (EU) budget and the Common Agricultural Policy reform are tightly connected issues influencing each other. We assume that the outcomes will be influenced by their impact on the net balances of Member States (MSs), and use isobudget and isobalance functions to...

In connection with the tight interdependence between domestic agricultural policies and behavior of world market and the present round of GATT negotiations, agricultural economists are increasingly being asked to produce significant pieces of research. This paper analyzes the supply responses of...