A cointegration analysis of Canadian wood pulp prices

American Journal of Agricultural Economics

Volumn 79, Issue 3, 1997, Pages 975-986

  Alavalapati, Janaki R R ^a   Adamowicz, Wiktor L ^a   Luckert, Martin K ^a  

^a UNIVERSITY OF ALBERTA   (Canada)

Author keywords

Devaluation; Market power; Pass through; Short term contracts

Indexed keywords

COINTEGRATION ANALYSIS; EXCHANGE RATE; MARKET STRUCTURE; PRICE LEVEL; PULP AND PAPER INDUSTRY; PULP PRICES;

CANADA;

EID: 0031392598     PISSN: 00029092     EISSN: None     Source Type: Journal    
DOI: 10.2307/1244437     Document Type: Article

References (36)

1. Adamowicz, W., G. Armstrong, and G. Lee. "Structural Versus Non-structural VAR Models of Agricultural Prices and Exports." University of Alberta, Department of Rural Economy Staff Paper 91-03, 1991.
2. Alavalapati, J.R.R., M.K. Luckert, and W.L. Adamowicz. "Short-run Dynamics of the Canadian Wood Pulp Industry: A Vector Autoregression Analysis." University of Alberta, Department of Rural Economy Staff Paper 94-09, 1994.
3. Braun, P.A., and S. Mittnik. "Misspecifications in Vector Autoregressions and Their Effects on Impulse Responses and Variance Decompositions." J. Econometrics 59(October 1993):319-41.
4. Buongiorno, J., J. Chavas, and J. Uusivuori. "Exchange Rates, Canadian Lumber Imports and U.S. Prices: A Time-series Analysis." Can. J. For. Res. 18(December 1988):1587-94.
5. Canadian Pulp and Paper Association. The Role of Canadian Wood Pulp in World Markets. Montreal, Canada, 1992.
6. Dickey, D., and W. Fuller. "Distribution of the Estimators for Autoregressive Time Series With a Unit Root." J. Amer. Statist. Assoc. 74(June 1979):427-31.
7. Doan, T.A. User's Manual RATS Version 4. Evanston IL: VAR Econometrics, Inc., 1992.
8. Dornbusch, R. "Exchange Rates and Prices." Amer. Econ. Rev. 77(March 1987):93-106.
9. Dunn, R.M. "Flexible Exchange Rates and Oligopoly Pricing: A Study of Canadian Markets." J. Polit. Econ. 78(January-February 1970):140-15.
10. Engle, R.F., and W.J. Granger. "Co-integration and Error Correction: Representation, Estimation, and Testing." Econometrica 55(March 1987):251-76.
11. Froot, K.A., and P.D. Klemperer. "Exchange Rate Pass-Through When Market Share Matters." Amer. Econ. Rev. 79(September 1989):637-54.
12. Gonzalo, J. "Five Alternative Methods of Estimating Long-run Relationships." J. Econometrics 60( January-February 1994):203-33.
13. Goodwin, B.K. "Multivariate Cointegration Testing of Law of One Price in International Wheat Markets." Rev. of Agr. Econ. 14(January 1992):117-24.
14. Hafer, R.W., and R.G. Sheehan. "Policy Inference Using Var Models." Econ. Inquiry 29(January 1991):44-52.
15. Harvey, A.C. Time Series Models. New York: Harvester Wheatsheaf, 1993.
16. Jegr, K.M. Overview of the North American Pulp and Paper Industry. University of British Columbia, Forest Economics and Policy Analysis Research Unit Information Report 107, 1985.
17. Jennings, S., W.L. Adamowicz, and L. Constantino. "The Canadian Lumber Industry and the Macroeconomy: A Vector Autoregression Analysis." Can. J. For. Res. 21(March 1991):288-99.
18. Johansen, S. "Statistical Analysis of Cointegration Vectors." J. Econ. Dynamics and Control 12(June-September 1988):231-54.
19. Johansen, S., and K. Juselius. "Maximum Likelihood Estimation and Inference on Cointegration, With Applications to the Demand for Money." Oxford Bull. Econ. and Statist. 52(May 1990):169-210.
20. Judge, G.H.R., W. Griffith, H. Lütkepohl, and T. Lee. Introduction to the Theory and Practice of Econometrics, 2nd ed. New York: John Wiley & Sons, 1988.
21. King, R.G., C.I. Plosser, J.H. Stock, and M.W. Watson. "Stochastic Trends and Economic Fluctuations." Amer. Econ. Rev. 81(September 1991):819-40.
22. Kloek, T., and H.K. Van Dijk. "Bayesian Estimates of Equation System Parameters: An Integration of Monte Carlo." Econometrica 46(January 1978):1-20.
23. Lütkepohl, H. Introduction to Multiple Time Series Analysis. New York: Spriger-Verlag, 1991.
24. Orden, D., and P.L. Fackler. "Identifying Monetary Impacts on Agricultural Prices in VAR Models." Amer. J. Agr. Econ. 71(May 1989):495-502.
25. Pearse, P.H. Timber Rights and Forest Policy in British Columbia, vols. 1 and 2. Report of the Royal Commission on Forest Resources. Victoria BC: Queen's Printer, 1976.
26. Roberts, D.G. "The Impact of Exchange Rate Changes on the Canadian Forest Products Sector." Forestry Canada, Economics Branch Working Paper. Ottawa, 1988.
27. Sarker, R.C. "A Maximum Likelihood Cointegration Analysis of Canadian Lumber Exports." Can. J. Agr. Econ. 41(March 1993):97-110.
28. Schembri, L., and R. Robicheau. Estimating the Effect of Exchange Rate Changes on the Canadian Pulp and Paper Industry: A Dual Approach. Canadian Forestry Service, Economic Branch, Ottawa, 1986.
29. Schwindt, R.W. An Analysis of Vertical Integration and Diversification Strategies in the Canadian Forest Sector. University of British Columbia, Forest Economics and Policy Analysis Research Unit Information Report 85-5, 1985.
30. Sims, C.A. "Macroeconomics and Reality." Econometrica 48(January 1980):1-48.
31. Singh, B.K., and J.C. Nautiyal. "Factors Affecting Canadian Pulp and Paper Prices." Can. J. For. Res. 14(October 1984):683-91.
32. Townsend, G.M., and R.S. Uhler Product Market Structure in the Canadian Pulp and Paper Industry. University of British Columbia, Forest Economics and Policy Analysis Research Unit Report 86-12, 1986.
33. Uusivuori, J., and J. Buongiorno. "Pass-Through of Exchange Rates on Prices of Forest Product Exports From the United States to Europe and Japan." For. Sci. 37(August 1991):931-48.
34. Uusivuori, J., and J. Buongiorno. "Short- and Long-Run Effects of Changes in Exchange Rates on United States Imports of Paper From Finland and Sweden." Scandinavian J. For. Res. 5(March 1990):285-96.
35. Williamson, O. "The Economics of Organization: The Transaction Approach." Amer. J. Social. 87(November 1981):548-77.
36. Woodbridge, Reed, and Associates. Canada's Forest Industry: Pulp and Paper the Next Twenty Years Prospects and Priorities. Prepared for Government of Canada, Canadian Forest Service Industry, Trade and Technology Directorate Economics Branch, Ottawa, 1988.