THE ROLE OF EXCHANGE-RATES IN CANADIAN UNITED-STATES LUMBER TRADE
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The paper employs graphical analysis, simple statics and an econometric model to examine the impacts of exchange rate on consumption, production, prices, and bilateral trade flows in the Canadian-US lumber market. Based on annual data for the 1950-1983 period, the econometric model is comprised of a US demand relation and supply, capacity, and stumpage price relations for three US regions and Canada. Analysis with the model indicates short-term elasticities with respect to exchange rate (expressed as $C/$US) of less than 0.1 for US consumption, roughly -0.3 for US delivered price and 0.5 for import volume.-from Authors
author list (cited authors)
ADAMS, D. M., MCCARL, B. A., & HOMAYOUNFARROKH, L.