This paper investigates credit channel of monetary policy by accounting for simultaneous interaction of banks' and firms' credit conditions and their adjustment costs, which are neglected in the previous studies. Based on the European data we find that these conditions are interacting, although...

This paper estimates market integration between the Finnish and German pork and beef markets. An econometric error correction model that allows for threshold effects and asymmetric price response is estimated. The data are weekly price observations during the period of 1995-2004. Each price...

The integration of the Finnish meat market in the EU has important implications for domestic agricultural policy. Our aim is to estimate the characteristics of the Finnish pork and beef markets in relation to those of Germany and Denmark. Our analysis uses symmetric and asymmetric threshold...