The present study how to lead the demand function for timber by application of econometrics in Korea. In order to answer the above ploblem, this study conducts the partial elasticity(η) of demand for timber in dynamic and general equilibum and then, ...
The present study how to lead the demand function for timber by application of econometrics in Korea. In order to answer the above ploblem, this study conducts the partial elasticity(η) of demand for timber in dynamic and general equilibum and then, determinds an interpolational formura of tipical demand function for timber.
The results are as follows;
1. To 1967 from 1961 ; D=2.840×P^-0.9317
2. To 1968 from 1962 ; D=3.169×P^-0.08275
3. To 1969 from 1963 ; D=3.577×P^-0.01820
4. To 1970 from 1964 D=3.922×P^-0.00926
5. To 1971 from 1965 ; D=4.369×P^-0.01154
6. To 1972 from 1966 ; D=4.859×P^-0.00419
7. To 1973 from 1967 ; D=5.453×P^-0.00200
8. The elasticity of the demand for timber were inelastic.