Since the late 1990s scientists have discussed the use of weather derivatives to hedge weather conditioned yield volatility in the agricultural sector. The hedging efficiency is depending on the contract design (Weather-Index, Strike-Level, Tick-Size). The basis risk consisting of the basis risk...

The economic transition and market globalization processes has triggered structural changes in the Macedonian agriculture. Pig producers face challenges to meet the new market requirements and regulations which cause inefficient and less competitive production compared to foreign markets. This...

Macedonia is a candidate-country for EU membership since 2005. The EU integrative process, without doubt, will have impact on the Macedonian economy and particularly on the agricultural sector, as being one of the most significant in terms of GDP contribution and workforce employer. So far,...

This paper examines the production and productivity growth of Macedonian agriculture. Furthermore, having in mind the distinctive dual structure of Macedonian agriculture, this study investigates the differences in productivity surplus between family farms and agricultural companies. In the...

Considering the scale of global warming, we make an attempt to assess the impact of climate change on Macedonian agriculture. Farmers’ adaptation is taken into account by using an alternative specification of the Ricardian model based on the use of aridity indices to capture the non-linear...

This study aims to analyse the water consumption of the Macedonian economic sectors and their trade strategies by means of virtual water in an input-output (IO) framework. By analysing the trade balance we determine that as consequence of high virtual water content and significant exports of...

The aim of the paper is to develop an optimization model to support the analysis of decision-making on Macedonian family farms. Normative linear programming paradigm is applied, utilising its optimization potential. The model is applied on a hypothetical vegetable farm case. The optimal...

Macedonia has been a candidate-country for EU membership since 2005. The EU integrative process, without doubt, will have an impact on the Macedonian economy and particularly on the agricultural sector. So far, the farmers’ attitude and intentions with regard to the EU integration and...

The aim of the paper is to develop an optimization model to support the analysis of decision-making on Macedonian family farms. For this purpose, normative linear programming paradigm is applied, utilising its optimization potential. The model is tested and presented on vegetable farm level....