No, it will burn. You can use white copy paper. It will tent to stick to the product, but will keep it from sticking to the pan. It will pull off of the product without damaging it.
Parchment is effectively teflon coated. Wax paper is wax coated. Parchment paper is non-stick even at high temperatures. Wax paper at high temps will melt and stick to the product. Wax paper is ideal...