Valuing the Impact of Large-Scale Ecological Change in a Market: The Effect of Climate Change on U.S. Timber

Brent Sohngen and Robert Mendelsohn

American Economic Review, 1998, vol. 88, issue 4, 686-710

Abstract: This paper establishes a methodology for valuing the impact of large-scale ecological changes in a market. Given the large capital stocks inherent in most ecological systems, the dynamic nature of most ecological change, and the dynamic response of markets, it is critical to build dynamic models to capture the resulting effects. This paper demonstrates how to construct such a model using the impacts of climate change on U.S. timber markets as an example. Across a wide range of scenarios and models, warming is predicted to expand timber supplies and thus benefit U.S. timber markets. Copyright 1998 by American Economic Association.

Date: 1998
References: Add references at CitEc
Citations: View citations in EconPapers (43)

Downloads: (external link)
http://links.jstor.org/sici?sici=0002-8282%2819980 ... O%3B2-L&origin=repec full text (application/pdf)
Access to full text is restricted to JSTOR subscribers. See http://www.jstor.org for details.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:aea:aecrev:v:88:y:1998:i:4:p:686-710

Ordering information: This journal article can be ordered from
https://www.aeaweb.org/journals/subscriptions

Access Statistics for this article

American Economic Review is currently edited by Esther Duflo

More articles in American Economic Review from American Economic Association Contact information at EDIRC.
Bibliographic data for series maintained by Michael P. Albert ().