Since the seminal work of Adam Smith, markets have been considered an efficienttool for co-ordinating the behaviour of economic agents. The basic characteristicof a market economy is that the complex system of interaction amongindividuals is not centrally coordinated. Under the assumption of...

This paper analyzes efficiency and total factor productivity (TFP) change of large agriculturalenterprises during their transition to a market economy in Ukraine. In this case the efficiencyis calculated by data envelopment analysis and the productivity change is measured by theMalmquist...

On the verge of EU accession, Poland’s agricultural sector is characterised by anumber of distinct structural weaknesses, which are a major reason for the unsatisfactoryincome situation of rural households. Among these weaknesses are thatfarm productivity is substantially below EU standards,...

This work provides a comparison of methodologies for applied research in price transmission analysis. We compare two regime-dependent econometric models, namely the threshold vector error correction model and the Markov-switching vector error correction model. We first provide a conceptual...

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...