The recent rise in food prices has increased the concern about the choice of a healthy food basket, especially in the context of the discussion around the formulation of a National Food Policy for Scotland. This concern has brought back the interest in the price and expenditure demand systems as...

The recent rise in food prices has increased concern about the choice of a healthy food basket, especially in the context of the current formulation of a National Food Policy for Scotland. This concern has revived interest in food price and expenditure demand systems as they provide information...

The departure in modelling terms from the log-normal distribution for option pricing has been largely driven by empirical observations on skewness. In recent years, the Weibull and generalized beta distributions have been used to fit the risk-neutral density from option prices. In this article,...

Purpose – The purpose of this paper is to report the results of a comparative study of order lead times for firms operating in the UK and Greek food retail markets with the UK one being regarded at the forefront in terms of logistics efficiency. Design/methodology/approach – The main...

Purpose – This paper aims to investigate the evolution from corporate social responsibility to supply chain responsibility via the examination of Waitrose, a leading UK food retailer. These two concepts differ substantially and illustrate contrasting approaches in terms of social...

Distributional issues may not have always been among the main concerns of the economic profession. Today, in the beginning of the 2000s, the position is different. During the last quarter of a century, economic growth proved to be unsteady and rather slow on average. The situation of those at...

Wheras non-price restrictions such as exclusive territories are often tolerated while Resale Price Maintenance (RPM) is rather unanimously forbidden, the economic analysis shows so far that both types of restraints have positive and negative effects on welfare, in such a way that the balance is...

We document and account for two facts regarding the relation between international interest rates and total factor productivity (TFP) in a sample of developing countries. First, there is a negative correlation between both variables at quarterly frequency. Second, the share of agricultural labor...

We analyze the international transmission of interest rates under pegged and non-pegged exchange rate regimes, demonstrating that transmission depends upon the informational properties of a base country’s interest rate change. We differentiate between interest rate movements which are...

This paper investigates the optimal management of a firm faced with a long-term liability that occurs at a random date. Three issues are analysed: The optimal dividend policy; optimal expenditure on safety to delay the occurrence of the liability; and the optimal liquidation date of the firm. An...