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The conservation reserve program and timber prices in the southern United States

Noel Perceval Assogba and Daowei Zhang

Forest Policy and Economics, 2022, vol. 140, issue C

Abstract: In this paper we estimate the effect of the Conservation Reserve Program (CRP) on the prices of standing timber in U.S. South using a reduced form model. The results of the estimation based on time series data covering the period between 1960 and 2019 suggest that CRP had a negative effect on the prices of standing timber in the long run. This statistically significant negative effect is estimated at about 6.5%, which may partially explain why standing timber prices in the U.S. South have stayed low for more than a decade since the great financial crisis of 2008.

Keywords: Conservation reserve program; Timber price; Supply; Reduced form model; Long-run (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:eee:forpol:v:140:y:2022:i:c:s1389934122000648

DOI: 10.1016/j.forpol.2022.102752

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