This publication identifies the requirements for successful reallocation of labor and capital to more efficient uses in response to the emergence of new sources of competition, technological change and shifting consumer preferences. At the same time, it focuses on limiting adjustment costs for...

Livestock farming and the environmentally friendly management of Alpine pastures represent a traditional form of mountain farming. Grazing and the maintenance of pastures and the Alps are publicly subsidised in recognition of the ecological importance of the activities and because the costs are...