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New elasticities and projections of global demand for coniferous sawnwood

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  • Skjerstad, Svein H.F.
  • Kallio, A. Maarit I.
  • Bergland, Olvar
  • Solberg, Birger

Abstract

Coniferous sawnwood is the most important solid wood product in terms of its production volume and economic significance. It also plays a vital role in the forestry-forest industry value chain. We estimated price- and income elasticities for per capita softwood sawnwood consumption based on FAO data. Varying demand patterns are found across the regions. Only the countries with little supply from their own domestic sources had significant price elasticities of demand, relatively inelastic in the short-term, but more elastic in the long-term. They also tended to have the highest income elasticities. The elasticity estimates obtained for the panels of very low- or very high-income countries were not statistically significant.

Suggested Citation

  • Skjerstad, Svein H.F. & Kallio, A. Maarit I. & Bergland, Olvar & Solberg, Birger, 2021. "New elasticities and projections of global demand for coniferous sawnwood," Forest Policy and Economics, Elsevier, vol. 122(C).
    • Handle: RePEc:eee:forpol:v:122:y:2021:i:c:s1389934120306626
    DOI: 10.1016/j.forpol.2020.102336
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    References listed on IDEAS

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    1. Morland, Christian & Schier, Franziska & Janzen, Niels & Weimar, Holger, 2018. "Supply and demand functions for global wood markets: Specification and plausibility testing of econometric models within the global forest sector," Forest Policy and Economics, Elsevier, vol. 92(C), pages 92-105.
    2. Paul Rougieux & Olivier Damette, 2018. "Reassessing forest products demand functions in Europe using a panel cointegration approach," Applied Economics, Taylor & Francis Journals, vol. 50(30), pages 3247-3270, June.
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    4. Borzykowski, Nicolas, 2019. "A supply-demand modeling of the Swiss roundwood market: Actors responsiveness and CO2 implications," Forest Policy and Economics, Elsevier, vol. 102(C), pages 100-113.
    5. Hurmekoski, Elias & Hetemäki, Lauri & Linden, Mika, 2015. "Factors affecting sawnwood consumption in Europe," Forest Policy and Economics, Elsevier, vol. 50(C), pages 236-248.
    6. Reiss, Peter C. & Wolak, Frank A., 2007. "Structural Econometric Modeling: Rationales and Examples from Industrial Organization," Handbook of Econometrics, in: J.J. Heckman & E.E. Leamer (ed.), Handbook of Econometrics, edition 1, volume 6, chapter 64, Elsevier.
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    Cited by:

    1. Boubacar, Inoussa, 2024. "US imports of softwood lumber: Assessing the significance of spillover effects," Forest Policy and Economics, Elsevier, vol. 160(C).

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