From Deficit to Surplus: An Econometric Analysis of US Trade Balance in Forest Products | Zendy

Daowei Zhang | Zendy; Ying Lin | Zendy; Jeffrey P. Prestemon | Zendy

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From Deficit to Surplus: An Econometric Analysis of US Trade Balance in Forest Products

Author(s) -

Daowei Zhang,

Ying Lin,

Jeffrey P. Prestemon

Publication year - 2017

Publication title -

forest science

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 0.447

H-Index - 77

eISSN - 1938-3738

pISSN - 0015-749X

DOI - 10.5849/fs-2016-018

Subject(s) - balance of trade , liberian dollar , economics , purchasing power , depreciation (economics) , value (mathematics) , consumption (sociology) , recession , international economics , agricultural economics , international trade , macroeconomics , market economy , finance , machine learning , sociology , financial capital , computer science , human capital , social science , capital formation

Ahhough the US trade deficit hm penited sinm 1975, the collllry changed in 2009 from a net iqiorter to a net exporter of forest produits, emerging as 1he wurld's largest exporter of forest produits. Drawing on recent dato, we model the real dollar Vlllue of US exports, imporb, and the trade balanm in forest pnxluds ta identify fadors likely to explain tlis shift. We find that US dollar depreciation and the purchasing power of the rest of the wurld have positi¥ely affeded US exporb, whde r11tmions 111d Iha im~snantation of the Lamy Art Amendment of 2008 hDYe nagativaly afftctad US imports, the lattw radudng the total value of imports by 24". Furthennore, a temporary (2007-201 OJ contradion in the consumption of farast pnxluds domestically led 1o a slilt in the trade halance.

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