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- Title
A COST ANALYSIS OF THE LUMBER AND PLYWOOD INDUSTRIES IN TWO PACIFIC NORTHWEST SUB-REGIONS.
- Authors
Merrifield, David E.; Haynes, Richard W.
- Abstract
Translog cost models are used to represent production technologies for the Pacific Northwest lumber and plywood industries. Expressions for cost elasticities are obtained along with measures for derived demand, factor substitution, and biased technological change. Emphasis is placed on the behavior of costs over output, the derived demand and substitutability of inputs due to changes in factor prices and technology, and the resulting effects on product prices. Estimation results over the 1950-79 sample period suggest the presence of output economies in specific industries, a potential impact of reduced factor prices, and the lack of a consistent trend in technological change across products and regional industries.
- Subjects
PACIFIC Northwest; LUMBER industry; PLYWOOD industry; PRODUCTION (Economic theory); COST effectiveness
- Publication
Annals of Regional Science, 1985, Vol 19, Issue 3, p16
- ISSN
0570-1864
- Publication type
Article
- DOI
10.1007/BF01294828