Open AccessSPOTTED OWL PROTECTION, BOOMING HOUSING MARKET, AND LOG PRICE CHANGES IN THE PACIFIC NORTHWEST
Author(s) -
YIN RUNSHENG
Publication year - 2001
Publication title -
natural resource modeling
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.28
H-Index - 32
eISSN - 1939-7445
pISSN - 0890-8575
DOI - 10.1111/j.1939-7445.2001.tb00074.x
Subject(s) - economics , intervention (counseling) , market price , estimation , business , microeconomics , psychology , management , psychiatry
. In this paper we assess the impacts of the federal policy shifts and the booming housing market on log price changes in the Pacific Northwest. Our intervention analysis and causality test indicate that both factors have affected the log market dynamics. Our further estimation shows that at least 71% of the log price movements might have been caused by the policy shifts induced by the spotted owl debate, with the remaining caused by lumber price changes driven by the booming housing market. We also discuss the implications of our results for understanding policy decision and market behavior.