Despite self-sufficiency exceeding 100 percent, West Germany has continued to import wheat from its EC partners. One factor which may play a role in these flows is the agri-monetary system. In a comparative static framework, hypotheses are formulated regarding the impact of agri-monetary...

Earlier attempts to test for asymmetric price transmission have been based on an econometric specification that is shown to be inconsistent with reintegration. An alternative specification based on the error correction representation is proposed and applied to transmission between producer and...

Analysis of price transmission in transition countries is often complicated by unstable policy environments. We use a Markov-switching vector error-correction model (MSVECM) to model multiple regime shifts in the relationship between wheat and wheat flour prices in Ukraine from June 2000 to...