Pricing-to-market (PTM) behaviour implies that exporters adjust their prices to the prevailing prices in their export markets. For the importing country, PTM effects can be interpreted as a measure of the stability of domestic prices against foreign price and exchange rate developments. PTM...

At the beginning of the 21st century, Europe and Latin America are still seeking the formula that would lend a strategic character to their relationship. Most recently, the Summit in Vienna in May 2006 failed to do so. Both partners reactivated their relations which had never been broken but...