Modeling stumpage markets using vector error correction vs. simultaneous equation estimation approach: A case of the Louisiana sawtimber market

Document Type

Article

Publication Date

9-1-2016

Abstract

In this paper, we compare the estimation results obtained from the multivariate vector error correction (VEC) method with the traditional simultaneous equations estimation approach. We found that the traditional simultaneous equations estimation approach produces similar demand and supply coefficients in the Louisiana stumpage market as the VEC method.

Publication Source (Journal or Book title)

Forest Policy and Economics

First Page

16

Last Page

19

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