Shock persistence in Canada's forest products markets

2011 ◽  
Vol 87 (04) ◽  
pp. 504-511 ◽  
Author(s):  
Kurt Niquidet ◽  
Lili Sun
Keyword(s):  
Forest Products ◽  
Variance Ratio ◽  
Regional Economies ◽  
Major Contributor ◽  
Economic Shocks ◽  
Price Shocks ◽  
Autoregressive Time Series ◽  
Traditional Markets ◽  
Two Measures ◽  
Forest Products Markets

The forest products sector continues to be a major contributor to many regional economies within Canada. Traditional markets for these products have been subjected to several unexpected shifts. How long are the impacts of these economic shocks likely to persist? In this paper, price persistence was calculated by two measures for Canada's major forest products. The first measure uses an autoregressive time series model to estimate the average half-life of shocks, whereas the second measure is based on a non-parametric variance ratio statistic, which isolates the fraction of shocks that are expected to have lasting effects. The results reveal that for most forest products, price shocks are largely transitory in nature, eventually dying out, but the process often takes several years and can have some permanent impacts.

FOREIGN TRADE IN FOREST PRODUCTS FROM A POINT OF VIEW OF AN EXPORTING COUNTRY—CANADA

1962 ◽  
Vol 38 (1) ◽  
pp. 56-62
Author(s):  
Harold M. Babcock
Keyword(s):  
Political Influence ◽  
Forest Products ◽  
Forest Growth ◽  
Point Of View ◽  
Economic Diversification ◽  
Traditional Markets ◽  
Forest Policies ◽  
Pros And Cons ◽  
Significant Measure ◽  
Scattered Population

Although Canada has been blessed with an abundant store house of natural resources and enjoys a significant measure of economic and political influence throughout the world, she has a relatively small and widely scattered population. The Canadian economy is largely based on resource industries of which those producing forest products are outstanding, and the very economic existence of Canada is dependent upon her ability to export goods and services.Some of the more critical export problem areas include non-resident ownership, the wage-cost spiral, the loss of traditional markets in forest products and finally the problems associated with researching markets in foreign countries.A matter of concern to many is the lack of investment in Canada's forests although the forest resource is capable of sustaining several times present production. Most disturbed lands regenerate naturally, but not necessarily in the desired species. The questions to be asked by management foresters are: (1) should we concentrate on the production of wood fibre or, (2) should we stress the growing of known species of superior quality? The pros and cons of each of these widely divergent forest policies are easily argued.Lack of an internal market is incurable over the short term; but Canada's immigration policies, her participation in trade conferences, agreements and international organizations, and her attempts at economic diversification all help to alleviate problems associated with her dependency on foreign markets.The results of these actions coupled with a trend toward equalization between forest growth and utilization will provide the necessity and incentive for a stepped up forest investment program in Canada.

scholarly journals Markets and Market Values of Nontimber Forest Products in the United States: A Review, Synthesis, and Identification of Future Research Needs

2019 ◽  
Vol 117 (6) ◽  
pp. 613-631
Author(s):  
Gregory E Frey ◽  
Susan J Alexander ◽  
James L Chamberlain ◽  
Keith A Blatner ◽  
Alisa W Coffin ◽  
...  
Keyword(s):  
United States ◽  
Forest Products ◽  
The United States ◽  
Economic Research ◽  
Future Research ◽  
Regional Economies ◽  
Research Needs ◽  
Nontimber Forest Products ◽  
Informal Markets ◽  
Market Values

Abstract Although numerous and varied users harvest, trade, and consume nontimber forest products (NTFPs), relatively little is known about the organization of the markets for these products and the market value or contribution to local and regional economies. In this article, we review and synthesize economic research and information on the markets and market values of NTFPs in the United States. We describe formal and informal markets for NTFPs, and the extent to which and reasons why many of the details of these markets remain unknown to researchers and decisionmakers. We provide examples of the market values of various species and identify information gaps and research needs to improve resource management and increase economic development.

scholarly journals Desperate House Sellers: Distress Among Developers

2021 ◽  
Vol 2021 (065) ◽  
pp. 1-68
Author(s):  
Eileen van Straelen ◽  
Keyword(s):  
Capital Markets ◽  
House Price ◽  
Internal Capital Markets ◽  
Housing Crisis ◽  
Economic Shocks ◽  
Price Shocks ◽  
Housing Developments ◽  
Internal Capital

Using granular data on home builder housing developments from the 2006-09 housing crisis, I show that builders spread house price shocks across geographically distinct projects via their internal capital markets. Builders who experience losses in one area subsequently sell homes in unaffected areas at a discount to raise cash quickly. Financially constrained firms are more likely to cut prices of homes in healthy areas in response to losses in unhealthy ones. Firms also smooth shocks across projects only during the crisis and not during the boom. These results together suggest firm internal capital markets spread negative economic shocks across space.

Economic and Marketing Implications of Special Forest Products Harvest in the Coastal Pacific Northwest

1991 ◽  
Vol 6 (3) ◽  
pp. 67-72 ◽  
Author(s):  
William E. Schlosser ◽  
Keith A. Blatner ◽  
Roger C. Chapman
Keyword(s):  
British Columbia ◽  
Product Development ◽  
Pacific Northwest ◽  
Mail Survey ◽  
Forest Products ◽  
Future Market ◽  
Regional Economies ◽  
Plant Materials ◽  
Market Opportunities ◽  
Special Forest Products

Abstract The special forest products industry has recently become an important factor in forest management. Plants common to the understories of many Pacific Northwest United States and coastal British Columbia forests are harvested, processed, and marketed worldwide in floral greens markets as supplements and complements in floral arrangements. The industry employed over 10,000 people in Washington, Oregon, and southern British Columbia in 1989, and generated an estimated $128.5 million in sales. Forestland managers are discovering the advantages associated with leasing harvesting rights to the producers and harvesters of these products. A mail survey was used to sample special forest products businesses in Washington, Oregon, and British Columbia during 1989. Descriptions of plant materials harvested and their value are presented and discussed. Business characteristics and total industry affects are discussed. The industry's impacts on the regional economies and the industries marketing strategies including channels of distribution, product development, market product development, and future market opportunities are also discussed. West. J. Appl. For. 6(3):67-72.

Policies shaping forest products markets

2015 ◽  
pp. 11-23 ◽  
Author(s):  
Kathryn Fernholz ◽  
Florian Kraxner ◽  
Igor Novoselov ◽  
Rupert Oliver ◽  
Jukka Tissari
Keyword(s):  
Forest Products ◽  
Forest Products Markets

Shocks and Regional Economic Resilience

2017 ◽  
Author(s):  
Harold Wolman ◽  
Howard Wial ◽  
Travis St. Clair ◽  
Edward Hill
Keyword(s):  
Great Recession ◽  
Regional Economies ◽  
Economic Shocks ◽  
Economic Resilience ◽  
Regional Economic ◽  
The Great Recession ◽  
The Face

The chapter examines shocks to regional economies, the extent to which regions are resistant to these shocks, whether regions that are adversely affected by these shocks are resilient in the face of them and why. We begin by defining and operationalizing economic shocks and the various ways in which they might affect regional economies. The analytic part of the chapter is devoted to quantitative descriptions and analyses of regional economic shocks and their determinants, causes, and consequences during the period 1978 to 2007 and then, separately, in a period coinciding with the Great Recession and its recovery, from 2007 to 2014.

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