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International Price Transmission In The U.S.-Japan Softwood Trade

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  • Gallagher, Paul W.

Abstract

This article explores the supposition that international price margins in the U.S. Pacific Northwest-Japan softwood trade are influenced by nontariff trade barriers and inelastic supplies of international transportation services. Furthermore, it pursues the hypothesis that a regime separation occurs in the log trade with the existence and extent of rent creation related to conditions in the export market. Estimated price spreads which depend on trade volume serve as evidence. These factors magnify elasticities that measure the response of Japan's prices to changes in U.S. prices. Moreover, U.S. supplies on this market are more price-inelastic than its sheer size would suggest.

Suggested Citation

  • Gallagher, Paul W., 1983. "International Price Transmission In The U.S.-Japan Softwood Trade," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 8(2), pages 1-12, December.
    • Handle: RePEc:ags:wjagec:32097
    DOI: 10.22004/ag.econ.32097
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    References listed on IDEAS

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    1. Gallagher, Paul W., 1980. "An Analysis of the Softwood Log Trade Between the United States and Japan," Staff General Research Papers Archive 10767, Iowa State University, Department of Economics.
    2. Roger A. Sedjo & A. Clark Wiseman, 1983. "The Effectiveness of an Export Restriction on Logs," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 65(1), pages 113-116.
    3. George, P.S. & King, Gordon A., 1971. "Consumer Demand for Food Commodities in the United States with Projections for 1980," Monographs, University of California, Davis, Giannini Foundation, number 11936, December.
    4. Maury E. Bredahl & William H. Meyers & Keith J. Collins, 1979. "The Elasticity of Foreign Demand for U.S. Agricultural Products: The Importance of the Price Transmission Elasticity," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 61(1), pages 58-63.
    5. James K. Binkley & Bruce Harrer, 1981. "Major Determinants of Ocean Freight Rates for Grains: An Econometric Analysis," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 63(1), pages 47-57.
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    Cited by:

    1. Lence, Sergio H.(Sergio Horacio), 1988. "Transfer costs in agricultural trade: implications for empirical research," ISU General Staff Papers 1988010108000017599, Iowa State University, Department of Economics.

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