This volume comprises fifteen papers exploring the consequences of applying modern time-series methods, particularly co-integrated time-series for the analysis of forest economics problems. The methods represent the forefront of econometrics in this area. An introductory paper explains the econometrics of unit-root processes. Much of what follows in the other papers depends upon only a few of the ideas presented in the introduction. The volume includes tests of the Law of One Price, land valuation models, demand and supply models, Granger-causality, and forecast models. The reader will learn a great deal about forest economies, particularly in Northern Europe, and about the practical use of modern time-series methods. The methods presented are applicable to other fields of economics. The volume is aimed at researchers in applied economics and as a supplement to (advanced) theoretical textbooks, mainly in natural resource economics.
Edited by:
Jens Abildtrup,
F. Helles,
Per Holten-Andersen,
Jakob Fromholt Larsen,
Bo Jellesmark Thorsen
Imprint: Kluwer Academic Publishers
Country of Publication: United States
Edition: 1999 ed.
Volume: 58
Dimensions:
Height: 244mm,
Width: 170mm,
Spine: 14mm
Weight: 1.120kg
ISBN: 9780792355243
ISBN 10: 0792355245
Series: Forestry Sciences
Pages: 221
Publication Date: 31 December 1998
Audience:
College/higher education
,
Professional and scholarly
,
Professional & Vocational
,
A / AS level
,
Further / Higher Education
Format: Hardback
Publisher's Status: Active
Introducing Unit Roots and Cointegration.- I International Price Relations and Exchange Rates.- Spatial Integration in the Nordic Timber Markets: Long-Run Equilibria and Short-Run Dynamics.- Exchange Rate Pass-Through in Finnish Sawnwood Exports to The United Kingdom.- The Law of One Price in United Kingdom Soft Sawnwood Imports – A Cointegration Approach.- Internationalisation of Roundwood Markets – the Case of Denmark.- II Demand and Supply Models.- Modelling the Danish Demand for Roundwood Imports – a Cointegration and Common Trends Analysis.- Quarterly Model of the Finnish Sawlog and Pulpwood Markets – A Cointegration Analysis.- III Causality, Forecasting, and Expectations.- Estimation in a Long-Run, Short-Run Model.- Do Exports Stimulate Growth? Evidence from International Woodpulp Data.- Forecasting Danish Timber Prices with an Error Correction Model.- Forecasting International Pulp Prices with Producer Inventories.- IV Capital Asset Evaluation.- Testing a Present Value Model of Forest Land.- Exploring Sources of Systematic Risk in Danish Forest Asset Returns.- V Management Implications of Time Series Properties.- The Behaviour of Timber Rents in Sweden, 1909–1990.- Optimal Harvesting Policies with Stationary and Non-Stationary Prices: An Option Value Approach.- List of Authors.
