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Modern Time Series Analysis in Forest Products Markets : Forestry Sciences - Jens Abildtrup

Modern Time Series Analysis in Forest Products Markets

Forestry Sciences

By: Jens Abildtrup (Editor), Finn Helles (Editor), Per Holten-Andersen (Editor), Jakob Fromholt Larsen (Editor), Bo Jellesmark Thorsen (Editor)

Hardcover Published: 31st December 1998
ISBN: 9780792355243
Number Of Pages: 221

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Since 1993 a major research programme, "Stochastic Decision Analysis in Forest Management" has been running at Department of Economics and Natural Resources, The Royal Veterinary and Agricultural University (KVL), Copenhagen, in collaboration with Institute of Mathematical Statistics, University of Copenhagen (KU). The research is funded by the two Universities; The Danish Agricultural and Veterinary Research Council; The Danish Research Academy; The National Forest and Nature Agency; and Danish Informatics Network in the Agricultural Sciepces (DINA). A first international workshop in the research programme was held 5 - 8 August, 1996 at Eldrupgaard, Denmark, within the frameworkofacollaborationagreementbetween University of California at Berkeley (UCB) and the Danish Universities, and funded by The Danish Research Academy and the L0venholm Foundation. Having participated in the workshop, Professor Peter Berck (UCB) suggested that the papers be published along with selected papers in the same scientific field, i.e. mainly cointegration analysis of time series in forestry. The editors express their sincere appreciations to the many persons who have contributed to the realisation of the present book: participants in the research programme and the workshop, in particular Professors S0ren Johansen (KU) and Peter Berck (UCB); authors outside the programme/workshop; reviewers of the papers not previously published, in particuler Associate Professors Niels Haldrup (Aarhus University) and Henrik Hansen (KVL); and finally Mrs Mette Riis and Lizzie Rohde who did the tedious work of giving the papers a uniform style. Copenhagen, October 1998.

Foreword
Preface
Introducing Unit Roots and Cointegrationp. 3
International Price Relations and Exchange Rates
Spatial Integration in the Nordic Timber Markets: Long-Run Equilibria and Short-Run Dynamicsp. 27
Exchange Rate Pass-Through in Finnish Sawnwood Exports to The United Kingdomp. 41
The Law of One Price in United Kingdom Soft Sawnwood Imports - A Cointegration Approachp. 55
Internationalisation of Roundwood Markets - the Case of Denmarkp. 69
Demand and Supply Models
Modelling the Danish Demand for Roundwood Imports - a Cointegration and Common Trends Analysisp. 85
Quarterly Model of the Finnish Sawlog and Pulpwood Markets - A Cointegration Analysisp. 103
Causality, Forecasting, and Expectations
Estimation in a Long-Run, Short-Run Modelp. 117
Do Exports Stimulate Growth? Evidence from International Woodpulp Datap. 127
Forecasting Danish Timber Prices with an Error Correction Modelp. 141
Forecasting International Pulp Prices with Producer Inventoriesp. 151
Capital Asset Evaluation
Testing a Present Value Model of Forest Landp. 161
Exploring Sources of Systematic Risk in Danish Forest Asset Returnsp. 173
Management Implications of Time Series Properties
The Behaviour of Timber Rents in Sweden, 1909-1990p. 187
Optimal Harvesting Policies with Stationary and Non-Stationary Prices: An Option Value Approachp. 199
List of Authorsp. 217
Table of Contents provided by Blackwell. All Rights Reserved.

ISBN: 9780792355243
ISBN-10: 0792355245
Series: Forestry Sciences : Book 58
Audience: Professional
Format: Hardcover
Language: English
Number Of Pages: 221
Published: 31st December 1998
Publisher: Springer
Country of Publication: NL
Dimensions (cm): 24.4 x 17.0  x 1.91
Weight (kg): 1.12