| Registro completo |
| Provedor de dados: |
AgEcon
|
| País: |
United States
|
| Título: |
Regional Log Market Integration in New Zealand
|
| Autores: |
Niquidet, Kurt
Manley, Bruce
|
| Data: |
2008-06-10
|
| Ano: |
2008
|
| Palavras-chave: |
Log market
Co-integration
Law of one price
Environmental Economics and Policy
Resource /Energy Economics and Policy
Q23
R32
|
| Resumo: |
In this paper the integration of log prices across four regions in New Zealand was assessed. A time series of prices for six radiata pine (Pinus radiata D. Don) log grades in each of the regions were tested for co-integration using Johansen’s method and Engle-Granger pair wise tests. Prices for export grades display significant integration across regions and generally follow the law of one price. However, markets for domestic grades tend to be regionally segregated. These results are most likely due to the high costs of transporting logs between regions. Future modelling will need to incorporate such transportation costs in order to adequately characterise log markets in the country.
|
| Tipo: |
Working or Discussion Paper
|
| Idioma: |
Inglês
|
| Identificador: |
http://purl.umn.edu/37082
|
| Relação: |
University of Victoria>Resource and Environmental Economics and Policy Analysis Research Group>Working Papers
REPA Working Paper
2008-03
|
| Formato: |
31
|
