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Space-Time Modeling of Timber Prices
- Source :
- Journal of Agricultural and Resource Economics, Vol 31, Iss 1, Pp 40-56 (2006)
- Publication Year :
- 2006
- Publisher :
- Western Agricultural Economics Association, 2006.
-
Abstract
- A space-time econometric model was developed for pine sawtimber timber prices of 21 geographically contiguous regions in the southern United States. The correlations between prices in neighboring regions helped predict future prices. The impulse response analysis showed that although southern pine sawtimber markets were not globally integrated, local supply and demand shocks did transmit partially to immediate neighboring regions, and could also have weaker effects in more distant regions.
- Subjects :
- impulse response
market integration
space-time model
spatial correlation
Agriculture
Subjects
Details
- Language :
- English
- ISSN :
- 10685502 and 23278285
- Volume :
- 31
- Issue :
- 1
- Database :
- Directory of Open Access Journals
- Journal :
- Journal of Agricultural and Resource Economics
- Publication Type :
- Academic Journal
- Accession number :
- edsdoj.66f954dce7d24b399e8f55375c9f4216
- Document Type :
- article
- Full Text :
- https://doi.org/10.22004/ag.econ.10147