Economic transition and reforms in the Central and Eastern European nations and the Newly Independent States have been uneven and probably slower than expected by many observers, with agriculture experiencing special difficulties. Johnson says that there is a real need for practical and...

This study uses an error correction model (ECM) to investigate dynamics in farm-retail price relationships. The ECM is a more general method of incorporating dynamics and the long-run, steady-state relationships between farm and retail prices than has been used to data. Monthly data for beef and...