Economic reform in the transition economies of the former Soviet bloc has transformed the volume and mix of these economies' agricultural production, consumption, and trade. Output drops in most countries have ranged from 25 to 50 percent. The livestock sector has been hit particularly hard, all...

Movements in countries’ exchange rates can substantially change the prices of goods faced by producers and consumers and thereby affect incentives to produce, consume, and trade goods. Exchange rate changes, however, might not be completely transmitted (passed through) to domestic prices....