Modelling Forestry in Dynamic General Equilibrium

James Lennox, James A. Turner, Adam Daigneault () and K. Jhunjhnuwala

No 115409, 2011 Conference, August 25-26, 2011, Nelson, New Zealand from New Zealand Agricultural and Resource Economics Society

Abstract: Adequately representing dynamic characteristics of land use change and forestry in computable general equilibrium models is challenging but essential if modellers are to provide credible assessments of policies that directly or indirectly influence these phenomena. In this paper, we show how a dynamic representation of planted or naturally regenerating forests may be integrated within a neoclassical, intertemporal general equilibrium model. We demonstrate the application of such a model to assess the impacts of including forestry within a hypothetical emissions trading scheme in the US, showing the resulting changes in land use and increases in the optimal rotation length.

Keywords: Crop Production/Industries; Environmental Economics and Policy (search for similar items in EconPapers)
Pages: 19
Date: 2011
New Economics Papers: this item is included in nep-dge and nep-env
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Related works:
Working Paper: Modelling Forestry in Dynamic General Equilibrium (2012)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:nzar11:115409

DOI: 10.22004/ag.econ.115409

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