(경상대학교 임산공학과/농업생명과학연구원)
;
(경상대학교 환경산림과학부/농업생명과학연구원)
;
(고려대학교 식품자원경제학과)
(Dept. of Forest Sciences/IALS, Gyeongsang National University)
;
(Division of Forest Sciences/IALS, Gyeongsang National University)
;
(Dept. of Food and Resource Economics, Korea University)
In order to investigate the relationship between the prices of wood chips and pulps, regression analysis and cointegration test were conducted. Test results indicated that pulp producers adjusted pulp price in response to the change in wood-chip price and there were a long-run relationship between these prices. This implied that by raising the selling price of pulp, pulp producers avoid profit loss incurred by the increase in the wood-chip price. The existence of cointegration between wood chips and pulp prices implied that pulp producers were competing when they set the selling price of pulp.