Overview

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.

Full Product Details

Author:   Jens Abildtrup ,  F. Helles ,  Per Holten-Andersen ,  Jakob Fromholt Larsen
Publisher:   Springer
Imprint:   Springer
Edition:   1999 ed.
Volume:   58
Dimensions:   Width: 17.00cm , Height: 1.40cm , Length: 24.40cm
Weight:   1.120kg
ISBN:  

9780792355243

ISBN 10:   0792355245
Pages:   221
Publication Date:   31 December 1998
Audience:   College/higher education ,  Professional and scholarly ,  Undergraduate ,  Postgraduate, Research & Scholarly
Format:   Hardback
Publisher's Status:   Active
Availability:   In Print  
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Table of Contents

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.

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