For quite some time long-only index funds have been suspected of being responsible for price increases in agricultural futures markets. This suspicion has prompted demands to drastically limit long-only index funds' scope of activity. Such demands and their underlying diagnoses, however,...

Long-only-Indexfonds stehen seit geraumer Zeit unter Verdacht, für die Preisanstiege an landwirtschaftlichen Warenterminmärkten verantwortlich zu sein. Hieraus wird die Forderung abgleitet, den Aktivitätsradius dieser Indexfonds drastisch einzuschränken. Allerdings stehen solche Forderungen...

The reform-process towards a higher world-market orientation has a long tradition in Chile, with all its strengths and weaknesses. The food processing industry is highly competitive on the worldmarket. The following paper investigates the technical efficiency of the Chilean food processing...

Auf volatileren Agrarmärkten gewinnt der Handel mit Optionen zunehmend an Bedeutung. Optionen gestatten die einseitige Absicherung von Preisrisiken, z. B. nur gegen fallende Preise, und stellen ein zunehmend bedeutenderes Instrument für das Risikomanagement von Landwirten und Landhändlern...

Options trading is increasingly important in more volatile agricultural markets. Options allow for unilateral hedging of price risks, e. g. against falling prices only, and are an indispensable risk management instrument for farmers and grain dealers. Concerns that soaring options trading could...

Since the work of FEENSTRA (2002), the standard ANDERSON & VAN WINCOOP (2003) Gravity Model has been estimated using a fixed effects approach. However, a fixed effects approach has a major drawback: it does not allow for the estimation of exporter- and importer-invariant variables. Thus,...

Russian dairy enterprises underwent dramatic changes during 1990-2001. Not much is known about the position of these enterprises under the new conditions. This study examined a sample group of dairy enterprises in the Moscow region to try to identify similarities and divergences in historical...

This study develops a micro econometric model of specialised dairy farms in Moscow Region using panel data over the period 1995-1998. The model is used to analyse the role of input and output subsidies in the on-farm decision making. Theoretical conditions for short term profit maximization and...

Technical change at the farm level or changes ininput prices often entail that the firm's supply functionchanges. These changes can take place in numerous ways. Thispaper presents a methodology that increases the consistency insupply responses across various sets of agricultural productsand farm...

The Russian agricultural sector has experienced many problems since the beginning of the 1990s that resulted in a fall in farm output. Employing a production function approach and, unlike other studies, farm-level data on more than 20,000 Russian large-scale farms for the period 1995-2000, this...