The objective of the paper is to analyse the nominal and real convergence process in Estonia drawing on the Balassa-Samuelson (B-S) framework. A 15-sectoral breakdown for GDP and a 5-digit level CPI data disaggregation with over 260 items is used for the period 1993:Q1 to 2002:Q1 to show that...

This paper studies the Balassa-Samuelson effect in 9 CEECs . Using panel cointegration techniques, we find strong empirical evidence in favour of what we call the internal transmission mechanism since productivity growth in the open sector is found to bring about non-tradable inflation. However,...

In this paper we present an overview of a number of issues relating to the equilibrium exchange rates of transition economies of the former soviet bloc. In particular, we present a critical overview of the various methods available for calculating equilibrium exchange rates and discuss how...

If transitory profitable trading opportunities exist, filter rules are used in practice to mitigate transaction costs. The filter size is difficult to determine a priori. Our paper uses a dynamic programming framework to design a filter that is optimal in the sense of maximizing expected returns...

Utilizando-se a avaliação de viabilidade financeira, associada às técnicas de análise de risco, este estudo investigou os benefícios e a atratividade da internalização da fabricação de ração na suinocultura, considerando os quesitos atratividade financeira e custos de transação. No...

As transformações ocorridas após a privatização do setor ferroviário, aliada a criação da agência reguladora (Agência Nacional de Transportes Terrestre - ANTT), fizeram com que a estrutura de governança desse setor fosse alterada. A nova forma de coordenação em que as ferrovias...

Este artigo mostra as principais configurações de transações comerciais empregadas por atores comerciais internacionais envolvidos nas transações de carne bovina tocantinense com destino ao mercado russo. Com este objetivo, o artigo descreve as principais atividades técnicas executadas...

The purpose of this paper is to analyse land allocation between competing agri-environmentalcontracts taking into account institutional issues and farm household and farm characteristics. Weconsider a Biodiversity Protection Contract, Landscape Management Contract and a Restriction onIntensive...

Recent literature about gravity models points out the importance of institutional frictions in the international market of agricultural products beyond the traditional economics variables as transport costs reducing the mass of trade in bilateral relationships. In particular, previous...

A crucial factor in the success of any water quality trading market is its ability to cost-effectivelyreallocate nutrient allowances from initial holders to those users who find them most valuable;the market's trading efficiency. We explore causes of and solutions to trading inefficiency...