 National forest timber bids and export price interlinkages in the USA: The bounds testing approachJaana Korhonen, Jesse D. Henderson and Jeffrey Prestemon Forest Policy and Economics, 2023, vol. 152, issue C Abstract: We examine the interrelationships of national forest timber bid and log export prices for Douglas-fir (Region 6) in 2003–2021 and loblolly pine (Region 8) using time-series stationarity and bounds-testing approaches. The analysis shows the difference in time series properties across different geographies and time scales. Bid prices for these dominant species of timber in each of two Forest Service regions are found to be stationary, while log export prices for those same species appear to be non-stationary. Bounds testing conducted with autoregressive distributed lag modeling methods provides strong evidence for a cointegrating relationship between timber bid prices and log export prices in Forest Service Region 6. In Region 8, evidence for a cointegrating relationship was weak. The share of salvage wood in national forest timber sales is a statistically significant control variable in all models estimated. Keywords: Prices; Cointegration; National timber; Exports; Salvage (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:forpol:v:152:y:2023:i:c:s1389934123000825 DOI: 10.1016/j.forpol.2023.102987 Access Statistics for this article Forest Policy and Economics is currently edited by M. Krott More articles in Forest Policy and Economics from Elsevier |
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