EMPIRICAL DEMAND ANALYSIS FOR LONG - LENGTH ROUNDWOOD (SAWLOGS) IN GREECE
Stathis Klonaris () and
Garyfallos Arabatzis ()
Additional contact information Garyfallos Arabatzis: Department of Forestry and Management of the Environment and Natural Resources, Democritus University of Thrace
In Greece and internationally, the roundwood is one of the most important forest products as it is used widely in construction and building sector. In this study the process of wholesale long-length roundwood (>2m) price determination is depicted in the form of an inverse demand system. The empirical application based on five species of long-length roundwood using yearly data for auctions providing reasonable and promising results. The own-quantity flexibilities suggest that the responses of prices to own-quantity changes are inelastic while Allais coefficients suggest substitutability between the different species of log-length roundwood.