Timber Mart-South is one of the most widely used set of timber and log price series in applied forest economics in the U.S. This is because TMS has reported prices for the same products for small regions for many years. The series permits spatial and temporal comparisons among and between series and for time-series estimates of supply and demand functions for timber, logs, and other products.
Using the weights that we have developed (freely available from www.srs.fs.usda.gov/econ/), users of TMS data products can construct long quarterly series for spatially-consistent reporting regions. The new series would then permit many different statistical analyses, including intervention analyses, tests of price stationarity and cointegration, and estimates of vector autoregressions of groups of series.
