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Substitutability between US Domestic and Imported Forest Products: The Armington Approach

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Abstract:

This article estimates the Armington elasticities of substitution between US domestic and imported forest products. The results indicate that US domestic and foreign forest products are far from perfect substitutes for each other. The low substitutability calls into question the effectiveness of import restrictions that alter the relative price between domestic output and imports and the trade impact assessments that impose the law of one price. The degree of substitutability is higher in the long run than in the short run and varies across product aggregation levels. The elasticity estimates, though remaining relatively stable for most forest products, show an increase since the late 1980s for the overall forest product, implying that US domestic and imported forest products have, in general, become more substitutable over time.

Keywords: Armington elasticity of substitution; domestic sales; imports; product differentiation

Document Type: Research Article

Affiliations: Department of Forest Science Texas A&M University 305 Horticulture/Forest Science Bldg. 2135 TAMU College Station, TX 77843-2135—(979) 862-4392; j-gan@silva.tamu.edu., Fax: (979) 845-6049

Publication date: 2006-01-01

More about this publication?
  • Forest Science is a peer-reviewed journal publishing fundamental and applied research that explores all aspects of natural and social sciences as they apply to the function and management of the forested ecosystems of the world. Topics include silviculture, forest management, biometrics, economics, entomology & pathology, fire & fuels management, forest ecology, genetics & tree improvement, geospatial technologies, harvesting & utilization, landscape ecology, operations research, forest policy, physiology, recreation, social sciences, soils & hydrology, and wildlife management.
    Forest Science is published bimonthly in February, April, June, August, October, and December.

    2015 Impact Factor: 1.702
    Ranking: 16 of 66 in forestry

    Also published by SAF:
    Journal of Forestry
    Other SAF Publications
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