The aim of this Working Paper is to provide an empirical analysis of the marginal return on working capital and fixed capital in agriculture, based on data gathered by the Farm Accountancy Data Network from seven EU member states. Particular emphasis is placed on the detection of credit market...

We ask how normative statements are possible within an economic theory framework that recognises the importance of institutional arrangements. Instead of applying established outcome-oriented criteria of social welfare, we examine whether the rules of economic interaction allow the acquisition...

Applied general and partial equilibrium models are widely used tools for ex ante analysis of trade policy changes. However, simulation results seem to exhibit significant variation across publications, and the often criticised ‘black box’ character of applied trade models makes meaningful...