FORECASTING THE FUTURE FOR TIMBER

Ian S. Ferguson

Australian Journal of Agricultural Economics, 1973, vol. 17, issue 3, 11

Abstract: For each State a simple two-equation model of demand and supply was fitted to post-war data using two-stage least squares. Prior estimates of the housing coefficient were used to break collinearity problems in the demand function. Price elasticity of demand appears to be high and income elasticity moderate but declining with increasing income. The use of these estimates in forecasting is briefly outlined.

Keywords: Demand; and; Price; Analysis (search for similar items in EconPapers)
Date: 1973
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Persistent link: https://EconPapers.repec.org/RePEc:ags:ajaeau:22324

DOI: 10.22004/ag.econ.22324

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