Over fifteen years have elapsed since the transition from the centrally planned economic system started in the early 1990âs. During this time agricultural and rural areas of Central and Eastern Europe have undergone profound structural changes with wide variations in the degree of...

We compare two regime-dependent econometric models for price transmission analysis, namely the threshold vector error correction model and Markov-switching vector error correction model. We first provide a detailed characterization of each of the models which is followed by a comprehensive...

We compare two regime-dependent econometric models for price transmission analysis, namely the threshold vector error correction model and Markov-switching vector error correction model. We first provide a detailed characterization of each of the models which is followed by a comprehensive...