Building aggregate timber supply models from individual harvest choice

Maksym Polyakov, David N. Wear and Robert Huggett

No 48168, 2009 Conference (53rd), February 11-13, 2009, Cairns, Australia from Australian Agricultural and Resource Economics Society

Abstract: Timber supply has traditionally been modelled using aggregate data. In this paper, we build aggregate supply models for four roundwood products for the US state of North Carolina from a stand-level harvest choice model applied to detailed forest inventory. The simulated elasticities of pulpwood supply are much lower than reported by previous studies. Cross price elasticities indicate a dominant influence of sawtimber markets on pulpwood supply. This approach allows predicting the supply consequences of exogenous factors and supports regular updating of supply models.

Pages: 13
Date: 2009
New Economics Papers: this item is included in nep-agr and nep-cmp
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aare09:48168

DOI: 10.22004/ag.econ.48168

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