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Article: Econometric analysis of Alabama's pulpwood market.
- Article from:
- Forest Products Journal
- Article date:
- January 1, 2005
- Author:
CopyrightCOPYRIGHT 2005 Forest Products Society. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Abstract
This paper presents an econometric analysis of factors influencing demand and supply of pulpwood in Alabama. The softwood and hardwood pulpwood markets were modeled simultaneously as a partial equilibrium system, where equalities of supplies and demands determine prices. Estimation of the parameters was done using two-stage least squares. Price elasticities of supply were found to be similar to those previously reported for the U.S. South (Newman 1987, Carter 1992). The substitution role of sawtimber in hardwood pulpwood supply is consistent with findings for Sweden and the U.S. South (Brannlund et al. 1985, Newman 1987). Results indicate that softwood ...