Abstract
An econometric model of the Canadian softwood lumber industry was developed. It describes supply and demand conditions for the three main markets under the hypothesis that Canadian requirements are supplied as a residual of United States' demand for Canadian softwood lumber. The major determinants of softwood lumber supply and price in the United States are log prices and labor productivities. The United States' demand is determined by price and level of construction activity, whereas Canadian demand is influenced by the former's demand, construction wages, and growth of the economy as measured by the index of industrial production.
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