Skip to Main Content
U.S. Forest Service
Caring for the land and serving people

United States Department of Agriculture

Home > Search > Publication Information

  1. Share via EmailShare on FacebookShare on LinkedInShare on Twitter
    Dislike this pubLike this pub


    This paper proposes an alternative and potentially novel approach to analyzing the law of one price in a nonlinear fashion. Copula-based models that consider the joint distribution of prices separated by space are developed and applied to weekly prices for lumber products. The copulas capture nonlinearities that arise in the extremes of the joint distributions of price differentials and suggest faster equilibrating adjustments when deviations from parity are extreme.

    Publication Notes

    • You may send email to to request a hard copy of this publication.
    • (Please specify exactly which publication you are requesting and your mailing address.)
    • We recommend that you also print this page and attach it to the printout of the article, to retain the full citation information.
    • This article was written and prepared by U.S. Government employees on official time, and is therefore in the public domain.


    Goodwin, Barry K.; Holt, Matthew T.; Önel, Gülcan; Prestemon, Jeffrey P. 2018. Copula-based nonlinear modeling of the law of one price for lumber products. Empirical Economics. 54(3): 1237-1265. 29 p.


    Google Scholar


    Law of one price · Copulas · Nonlinear time series models

    Related Search

    XML: View XML
Show More
Show Fewer
Jump to Top of Page