Towards a dynamic Ecol-Econ CGE model with forest as biomass capital

Örjan Furtenback (orjan.furenback@sekon.slu.se)
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Örjan Furtenback: CERE, Postal: CERE, SLU-Umeå and Umeå University, http://www.cere.se

No 2010:6, CERE Working Papers from CERE - the Center for Environmental and Resource Economics

Abstract: This study presents a Dynamic Computable General Equilibrium model that combines economic and ecological aspects of forest biomass. A framework is introduced for modeling the growth of a biomass stock which interacts with economic sectors. Harvest of and demand for forest products and forest amenities are determined endogenously in an inter-temporally consistent way. The idea is based on a Markovian growth model of the forest. The study demonstrates an approach for incorporating non-market values of forests, such as carbon sequestration, recreation and biodiversity, into a growth model. A simulation illustrates harvest behaviour when the economy is subjected to shocks.

Keywords: Dynamic CGE; Markovian growth; Ecosystem modeling; Inter-temporal optimization; Infinite-horizon equilibria (search for similar items in EconPapers)
JEL-codes: C68 D58 Q26 (search for similar items in EconPapers)
Pages: 24 pages
Date: 2010-11-12
New Economics Papers: this item is included in nep-cmp and nep-env
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