Models use for natural resources prices usually preclude the possibility of large changes (jumps) resulting from discrete, unexpected events. To test for the presence of jumps and ARCH effects, we propose to use bounds and bootstrap test techniques, thus solving the unidentified nuisance...

Models used for natural resources prices usually preclude the possibility of large changes (jumps) resulting from discrete, unexpected events. To test for the presence of jumps and ARCH effects, we propose to use bounds and bootstrap test techniques, thus solving the unidentified nuisance...

The literature on trade in renewable resources implicitly assumes that the traded resources are perfect substitutes. We model trade in renewable resources as stipulated not only by autarky price differences, but also by consumers' love of variety. We show that the love-of-variety effect enables...

The aim of this paper is to develop an econometric model of deforestation in Indonesia using time series analysis based on the annual data from 1961 to 2000. From the model, we should be able: (i) To examine the forces of agricultural and timber sectors to forest decline; (ii) To distinguish the...

Competition among the South, the West, and Canada as major softwood lumber production regions has been affected by timber resource endowments, public land policies, and the general economy. To assess spatial price linkages, a threshold vector error correction model is applied on softwood lumber...

The literature on trade in renewable resources implicitly assumes that the traded resources are perfect substitutes. We model trade in renewable resources as stipulated not only by autarky price differences, but also by consumers' love of variety. We show that the love-of-variety effect enables...