Empirical demand analysis of long-length roundwood (sawlogs) in Greece
New Medit, vol 8, n.3, (September 2009), pp. 54-62
Jel classification: Q230, Q210
In Greece and internationally, the roundwood is one of the most important forest products as it is widely used in the building and construction sector. In this study, the determination of the long-length roundwood (>2m) wholesale price is depicted in the form of an inverse demand system. The empirical application based on five species of long-length roundwood using annual auctions data provided reasonable and promising results. The quantity flexibilities suggest that prices responses to quantity changes are inelastic, whereas the Allais coefficients suggest substitutability between the different species of roundwood of long length.
demand analysis, flexibilities, long-length roundwood, wood sector, Greece