An Study On Compiling And Applying Of The Wood Products Price Index In China

As unique renewability,recyclablity and stable performance of timbers and other wood products,the whole society has a surge demand on timbers.However,our domestic timber supply is insufficient,and the timber price fluctuates obviously,so timber price has a great influence on the forestry production in China.This paper summarized related researches at home and abroad about the price index and the hedonic theory,introduced the status of China's timber product price index research.Then based on Hedonic theory,this paper constructed the characteristic quality system of China's main wood products(logs,sawn timber and wood-based panels),established the hedonic price models of different wood products by various forms,and described mathematically implemented method principles of two-period characteristics price index method,time dummy variable method and Hedonic price quality adjustment method.Then this paper took Chinese log prices from China Forestry Statistical Yearbook as an example.By screening significant variables:log's diameter and log species,this paper established hedonic price models in every year and calculate the accurate logs hedonic price indexes in above-mentioned three methods and compared the three hedonic price indexs.Meanwhile,this paper calculated the normal Laspeyre logs price index and the national economy GDP comprehensive price index,taking a general comparison and analysis from quality,price level,the national economy and other aspects.Finally,this paper applied the above hedonic indexs in China's forestry economy research,including the replacement of the old and new products hedonic index calculation conbined with the double data imputation process,and short-term price estimation,so as to estimate the price trend and industry trend of wood products in our country more correctly.The results showed that the logs and other wood products are heterogeneous,which are able to ues the hedonic methods to calculate the more precise hedonic price index.The results of different Hedonic exponents are different and the three different calculating ways should be selected according to different situations.The hedonic price index can reject the influence of quality factor,which has an important role in index calculating and price evaluating.