Previous studies employing error correction models (ECMs) that include threshold effects in long-run equilibrium relationships (threshold cointegration) as well as in error correction (threshold autoregression; threshold ECMs; non-parametric ECMs; Markov-switching ECMs; and other forms of ECM...

In this paper we investigate the possibility that price transmission between spatially distinct markets might vary during periods with and without physical trade flows. We are able to test for differences in price transmission between trade and non-trade regimes by using Generalized Reduced Rank...

In this paper we introduce a switching error correction model (SECM) estimator that allows for the possibility that price transmission between markets might vary during periods with and without physical trade flows. Applying this new approach to semi-weekly data on tomato markets in Zimbabwe, we...

Agriculture is undoubtedly the most important and controversial topic in the ongoing Uruguay Round of the GATT. Can a compromise between the divergent positions of the EC and the USA on agricultural trade be found? Does the Uruguay Round mark a turning point for the EC's Common Agricultural Policy?

After protracted negotiations, the EC Ministers of Agriculture agreed on a reform of the Common Agricultural Policy on July 1st. Will this reform solve the fundamental problems plaguing the common agricultural market? Is it compatible with the GATT?

In the past, the protection of agriculture in the EU from exchange rate instability was accomplished at the cost of confusing regulations, welfare losses and the discrimination of other sectors. Will the 1993 reform of the Agri-Monetary System, combined with wide 15% European Monetary System...

We investigate competitiveness and price behaviour in the Israeli citrus export sector following the removal of the government export monopoly and the entry of private export companies in 1991. We identify asymmetric price transmission for some exporters even in the liberalized market which only...

We study vertical price transmission between Israel and the EU in the imperfectly competitive Israeli citrus export sector, which emerged after the former parastatal marketing board was liberalised in 1991. We find evidence of positive asymmetry in price transmission, implying that Israeli...