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The effect of changes in lumber and furniture prices on wood furniture manufacturers' lumber usageAuthor(s): William G. Luppold
Source: Res. Pap. NE-514. Broomall, PA: U.S. Department of Agriculture, Forest Service, Northeastern Forest Experiement Station. 8p.
Publication Series: Research Paper (RP)
Station: Northeastern Research Station
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DescriptionWood furniture manufacturers' demands for oak, maple, poplar, open-grain, and close-grain lumber are estimated using cross-sectional, time-series techniques. The analyses indicate that the demand for open-grain species is more price responsive than the demand for close-grain species. The calculated cross-price elasticities indicate that furniture producers do substitute species through style decisions. However, poplar lumber has a negative cross-price elasticity, indicating that it is used with, rather than substituted for, other species.
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CitationLuppold, William G. 1983. The effect of changes in lumber and furniture prices on wood furniture manufacturers'' lumber usage. Res. Pap. NE-514. Broomall, PA: U.S. Department of Agriculture, Forest Service, Northeastern Forest Experiement Station. 8p.
KeywordsEconomics, oak, maple, poplar
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