Browsing by Author "Yu, W."

Now showing 1 - 4 of 4
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    Testing Market Integration in the Canadian Softwood Lumber Markets
    J., Kee; Yu, W.; Robak, E. W.
    This paper investigates the empirical validity of market integration for the five softwood lumber markets in Canada. Atlantic, Quebec, Ontario, Prairie, and British Columbia (BC). The Augmented Dickey-Fuller (ADF) tests of monthly price series for the period 1987.10-1998:11 reveal strong evidence for the presence of a unit root in each series. Accordingly, the Johansen cointegration technique is used to test for the law of one price in the five regional markets. Results show that the law holds in the pair, three, four, and five markets, supporting the hypothesis of market integration.
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    Testing Market Integration in the Canadian Softwood Lumber Markets
    J., Kee; Yu, W.; Robak, E. W.
    This paper investigates the empirical validity of market integration for the five softwood lumber markets in Canada. Atlantic, Quebec, Ontario, Prairie, and British Columbia (BC). The Augmented Dickey-Fuller (ADF) tests of monthly price series for the period 1987.10-1998:11 reveal strong evidence for the presence of a unit root in each series. Accordingly, the Johansen cointegration technique is used to test for the law of one price in the five regional markets. Results show that the law holds in the pair, three, four, and five markets, supporting the hypothesis of market integration.
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    The Effect of the Harmonized Sales Tax on Consumer Prices and Spending in Atlantic Canada
    Murrell, D.; Yu, W.
    This paper examines the effect of the Harmonized Sales Tax (HST) on consumer prices and spending from April 1997 to March 1999. Using aggregate and disaggregate (eight-component) consumer price index (CPI) data for the three participating Atlantic Canada provinces and for Ontario (as the "control "province), we conduct counter-factual analysis and find that, ceteris paribus, consumer prices were lower in all three participating provinces during this period. We also find that political support for the HSTwas relatively stronger in Newfoundland, the province in which consumers have benefited the most from the HST.
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    The Effect of the Harmonized Sales Tax on Consumer Prices and Spending in Atlantic Canada
    Murrell, D.; Yu, W.
    This paper examines the effect of the Harmonized Sales Tax (HST) on consumer prices and spending from April 1997 to March 1999. Using aggregate and disaggregate (eight-component) consumer price index (CPI) data for the three participating Atlantic Canada provinces and for Ontario (as the "control "province), we conduct counter-factual analysis and find that, ceteris paribus, consumer prices were lower in all three participating provinces during this period. We also find that political support for the HSTwas relatively stronger in Newfoundland, the province in which consumers have benefited the most from the HST.