When analysing food consumption data a number of problems arise when one departs from the comparative statics of conventional demand theory. Two of these properties, non-linearity and non-stationarity present a major challenge for econometric modelling. A new method for time series analysis,...

In recent years the CAP has undergone significant reforms, but the dairy sector has largely avoided wholesale changes. The sector, however, is now faced with a significant effort by the Commission to instigate reform. In this study the FAPRI-UK modelling system is simulated to identify the...

In line with recent suggestions about the potential positive effects of subsistence agriculture in fragile economies, this paper discusses and explains the effects of subsistence agriculture with emphasis on transition countries. Some micro-economic models of subsistence agriculture are reviewed...

In most countries of Central and Eastern Europe the process of transition to market economy resulted in an increasingly subsistence type of agriculture. The extent of subsistence farming varies from one country to another, but the phenomenon is universally present. The very existence, yet...

According to the Mixture of Distributions Hypothesis (MDH), returns volatility and trading volume are driven by a common news arrival variable. Consequently, these two variables should be correlated. This paper extends, and to some extent, globalises the concept of a common information arrival...

Correct assessment of the risks associated with likely economic outcomes is vital for effective decision making. The objective of investment in the stock market is to obtain positive market returns. The risk, however, is the danger of suffering large negative market returns. A variety of...