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Analysis on the Relationship between the Prices of Pulps and Wood Chips  

Lee, Kee-Hyun (Dept. of Food and Resource Economics, Korea University)
Kim, Chul-Hwan (Dept. of Forest Sciences/IALS, Gyeongsang National University)
Kim, Eui-Gyeong (Division of Forest Sciences/IALS, Gyeongsang National University)
Ahn, Byeong-Il (Dept. of Food and Resource Economics, Korea University)
Publication Information
Journal of Korea Technical Association of The Pulp and Paper Industry / v.43, no.3, 2011 , pp. 128-136 More about this Journal
Abstract
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.
Keywords
pulp price; woodchip price; unit root test; cointegration test;
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