Skip to page content
USDA Forest Service
  
Treesearch

Research & Development Treesearch

 
Treesearch Home
About Treesearch
Contact Us
Research & Development
Forest Products Lab
International Institute of Tropical Forestry
Northern
Pacific Northwest
Pacific Southwest
Rocky Mountain
Southern Research Station
Help
 

Science.gov - We Participate


USA.gov  Government Made Easy


Global Forest Information Service

US Forest Service
P.O. Box 96090
Washington, D.C.
20090-6090

(202) 205-8333

You are here: Home / Search / Publication Information
Bookmark and Share

Publication Information

View PDF (238 KB bytes)

Title: Alaska softwood market price arbitrage.

Author: Stevens, James A.; Brooks, David J.;

Date: 2003

Source: Res. Pap. PNW-RP-556. Portland, OR: U.S. Department of Agriculture, Forest Service, Pacific Northwest Research Station. 12 p

Publication Series: Research Paper (RP)

Description: This study formally tests the hypothesis that markets for Alaska lumber and logs are integrated with those of similar products from the U.S. Pacific Northwest and Canada. The prices from these three supply regions are tested in a common demand market (Japan). Cointegration tests are run on paired log and lumber data. Our results support the conclusion that western hemlock (Tsuga heterophylla (Raf.) Sarg.) and Sitka spruce (Picea sitchensis (Bong.) Carr.) logs from Alaska share an integrated market with logs produced in the other two regions. Results are less clear for lumber. Given this evidence that markets are at least imperfectly integrated, Alaska production and exports of forest products will continue to be sensitive to international market conditions, including competition from other North American producing regions.

Keywords: Arbitrage, markets, cointegration, Alaska, softwood, prices

Publication Notes:

  • We recommend that you also print this page and attach it to the printout of the article, to retain the full citation information.
  • This article was written and prepared by U.S. Government employees on official time, and is therefore in the public domain.
  • You may send email to pnw_pnwpubs@fs.fed.us to request a hard copy of this publication. (Please specify exactly which publication you are requesting and your mailing address.)

XML: View XML

Citation:


Stevens, James A.; Brooks, David J. 2003. Alaska softwood market price arbitrage. Res. Pap. PNW-RP-556. Portland, OR: U.S. Department of Agriculture, Forest Service, Pacific Northwest Research Station. 12 p

 


 [ Get Acrobat ]  Get the latest version of the Adobe Acrobat reader or Acrobat Reader for Windows with Search and Accessibility

USDA logo which links to the department's national site. Forest Service logo which links to the agency's national site.