A Comparison of Timber Models for Use in Public Policy Analysis

Brent Sohngen and Roger A. Sedjo

No 10467, Discussion Papers from Resources for the Future

Abstract: In this paper, we compare and contrast two types of timber models that have been used for public policy analysis. These models have been variously used to predict price, inventory and market welfare impacts under different exogenous forces that impact timber markets. The framework and theory for each model type is presented and discussed. We then thoroughly test the two model types across six potential exogenous shocks to timber markets, ranging from instantaneous demand shocks to gradual supply adjustments. Our comparison indicates that these models predict potentially important differences in timber market behavior. These differences are important to consider for those who do public policy analysis.

Keywords: Resource/Energy; Economics; and; Policy (search for similar items in EconPapers)
Pages: 45
Date: 1996
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Citations: View citations in EconPapers (2)

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Related works:
Working Paper: A Comparison of Timber Models for Use in Public Policy Analysis (1996)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:rffdps:10467

DOI: 10.22004/ag.econ.10467

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