The Finnish roundwood market: an econometric analysis
The present study investigates the determination of the aggregate supply of and demand for saw logs and pulpwood in Finland using annual data from 1965 to 1985. Raw material is purchased in competitive markets from private nonindustrial forest owners. The equilibrium assumptions seem to work rather well in both markets, in spite of the fact that, particularly in the pulpwood trade, recommended stumpage price agreements have been concluded for most of the years. Both supply and demand react to prices, and cross elasticities of supply between saw logs and pulpwood are positive or zero. When only pulpwood originating from thinning stands is used as the dependent variable in the pulpwood trade, supply and demand elasticities for pulpwood increase and cross elasticity of pulpwood supply with respect to the price of saw logs becomes negative.
Year of publication: |
1988
|
---|---|
Authors: | Kuuluvainen, Jari ; Hetemäki, Lauri ; Ollonqvist, Pekka ; Ovaskainen, Ville ; Pajuoja, Heikki ; Salo, Jorma ; Seppälä, Heikki ; Tervo, Mikko |
Published in: |
Finnish Economic Papers. - Taloustieteellinen Yhdistys. - Vol. 1.1988, 2, p. 191-204
|
Publisher: |
Taloustieteellinen Yhdistys |
Saved in:
freely available
Saved in favorites
Similar items by person
-
Timber supply of private nonindustrial forest owners : evidence from Finland
Loikkanen, Heikki A., (1986)
-
Kuuluvainen, Jari, (1983)
-
Estimating supply and demand for roundwood : how to incorporate the data and theory?
Hetemäki, Lauri, (1991)
- More ...