Integration of Regional Wood Products Markets
Investigators:
Jeffrey P. Prestemon,
Southern Research Station
David N. Wear, Southern Research Station
Robert Abt, North Carolina State University
Doug McNair, Triangle Economic Research
Matthew Bingham, Triangle Economic Research
William Luppold, Northeastern Forest Experiment Station
Description:
Economic theories regarding production, market competitiveness, the Law of One Price, and interregional trade specify equilibrium price relationships across products and within spatially distributed markets for similar products. Empirical questions exist on how well timber and wood products markets conform to these theories. Because identification of consistency with and deviation from theory provides clues about the character of the market, more informed predictions and estimates can be made about the effects of market shocks and government policies on economic welfare and industry structure. Using several rich data sets on timber and wood products prices in the U.S. South and other regions, several studies are ongoing.
Problem Area(s):
Regional analyses
Status:
Ongoing
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modified:
13-MAR-2000
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USDA FS SRS
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