US Import Demand for Softwood Plywood: A Cointegration Approach. Issue 2 (11th January 2021)

• Record Type: Journal Article
• Authors: Assogba, Noel Perceval; Zhang, Daowei
• Is Part Of: Forest science. Volume 67:Issue 2(2021)
• Page Start: 156
• Page End: 164
• Publication Date: 2021-01-11
• Subjects: softwood plywood import -- time series order of integration -- elasticity -- substitute -- complement; Forests and forestry -- Periodicals; Forest management -- Periodicals; Forest policy -- United States -- Periodicals; Forest management; Forest policy; Forests and forestry; United States; Electronic journals; Periodicals; 634.9
• DOI: 10.1093/forsci/fxaa047
• Languages: English
• ISSNs: 0015-749X

Abstract

Abstract: In this article, we present a model and estimates of US import demand for softwood plywood from Brazil, Canada, Chile, and China using a cointegration framework. We find evidence of long-run cointegration for time series variables in US import demand functions from Brazil, Canada, and China but not from Chile. The short-run own price elasticity estimates of US import demand from Brazil, Canada, Chile, and China are at –0.53, –0.80, –0.82, and –0.91, respectively. The estimates of long-run price elasticity suggest that US import demand for softwood plywood from the three countries is more sensitive to softwood plywood price change.