Spatial integration in the Nordic timber market: Long-run equilibria and short-run dynamics

Research output: Contribution to journal › Journal article › Research › peer-review

Standard

Spatial integration in the Nordic timber market : Long-run equilibria and short-run dynamics. / Thorsen, Bo Jellesmark.

In: Scandinavian Journal of Forest Research, Vol. 13, No. 1-4, 1998, p. 488-498.

Research output: Contribution to journal › Journal article › Research › peer-review

Harvard

Thorsen, BJ 1998, 'Spatial integration in the Nordic timber market: Long-run equilibria and short-run dynamics', Scandinavian Journal of Forest Research, vol. 13, no. 1-4, pp. 488-498. https://doi.org/10.1080/02827589809383010

APA

Thorsen, B. J. (1998). Spatial integration in the Nordic timber market: Long-run equilibria and short-run dynamics. Scandinavian Journal of Forest Research, 13(1-4), 488-498. https://doi.org/10.1080/02827589809383010

Vancouver

Thorsen BJ. Spatial integration in the Nordic timber market: Long-run equilibria and short-run dynamics. Scandinavian Journal of Forest Research. 1998;13(1-4):488-498. https://doi.org/10.1080/02827589809383010

Author

Thorsen, Bo Jellesmark. / Spatial integration in the Nordic timber market : Long-run equilibria and short-run dynamics. In: Scandinavian Journal of Forest Research. 1998 ; Vol. 13, No. 1-4. pp. 488-498.

Bibtex

@article{3753bbb5981a414b8e093dc611dd7765,
title = "Spatial integration in the Nordic timber market: Long-run equilibria and short-run dynamics",
abstract = "This study presents an econometric analysis of the spatial integration of the Nordic timber market as reflected in timber prices. The statistical model is a vector autoregressive (VAR) model with cointegration. The degree of spatial integration is tested through a cointegration analysis and a complete identification of the statistical model's long‐run structure. When the results were interpreted in terms of factor price equalization and efficient commodity arbitrages, the Nordic markets were found to be strongly integrated. The pattern of interdependence is investigated through an analysis of the model's short‐run structure and interpreted in terms of Granger causality. Finland, and to some extent Sweden, were found to act as “price‐leaders” in the long run and Denmark and Norway were very sensitive to changes in timber prices in competing countries.",
author = "Thorsen, {Bo Jellesmark}",
year = "1998",
doi = "10.1080/02827589809383010",
language = "English",
volume = "13",
pages = "488--498",
journal = "Scandinavian Journal of Forest Research",
issn = "0282-7581",
publisher = "Taylor & Francis Scandinavia",
number = "1-4",

}

RIS

TY - JOUR

T1 - Spatial integration in the Nordic timber market

T2 - Long-run equilibria and short-run dynamics

AU - Thorsen, Bo Jellesmark

PY - 1998

Y1 - 1998

N2 - This study presents an econometric analysis of the spatial integration of the Nordic timber market as reflected in timber prices. The statistical model is a vector autoregressive (VAR) model with cointegration. The degree of spatial integration is tested through a cointegration analysis and a complete identification of the statistical model's long‐run structure. When the results were interpreted in terms of factor price equalization and efficient commodity arbitrages, the Nordic markets were found to be strongly integrated. The pattern of interdependence is investigated through an analysis of the model's short‐run structure and interpreted in terms of Granger causality. Finland, and to some extent Sweden, were found to act as “price‐leaders” in the long run and Denmark and Norway were very sensitive to changes in timber prices in competing countries.

AB - This study presents an econometric analysis of the spatial integration of the Nordic timber market as reflected in timber prices. The statistical model is a vector autoregressive (VAR) model with cointegration. The degree of spatial integration is tested through a cointegration analysis and a complete identification of the statistical model's long‐run structure. When the results were interpreted in terms of factor price equalization and efficient commodity arbitrages, the Nordic markets were found to be strongly integrated. The pattern of interdependence is investigated through an analysis of the model's short‐run structure and interpreted in terms of Granger causality. Finland, and to some extent Sweden, were found to act as “price‐leaders” in the long run and Denmark and Norway were very sensitive to changes in timber prices in competing countries.

UR - http://gateway.webofknowledge.com/gateway/Gateway.cgi?GWVersion=2&SrcAuth=ORCID&SrcApp=OrcidOrg&DestLinkType=FullRecord&DestApp=WOS_CPL&KeyUT=WOS:000077692600012&KeyUID=WOS:000077692600012

U2 - 10.1080/02827589809383010

DO - 10.1080/02827589809383010

M3 - Journal article

VL - 13

SP - 488

EP - 498

JO - Scandinavian Journal of Forest Research

JF - Scandinavian Journal of Forest Research

SN - 0282-7581

IS - 1-4

ER -

ID: 335123078