The Economic Value of a Forested Catchment with Timber, Water and Carbon Sequestration Benefits

John Creedy and A.D. Wurzbacher
Authors registered in the RePEc Author Service: Anke D. Leroux

No 753, Department of Economics - Working Papers Series from The University of Melbourne

Abstract: This paper examines the optimal management strategy for a forested catchment that yields timber, water and carbon sequestration benefits. The Faustmann multiple rotation model is extended to allow for the maximisation of the net present value of these timber and non-timber benefits. The model is applied to the Thomson Catchment in Central Gippsland, Victoria. Carbon sequestration benefits are modelled via total stand biomass accumulation. The cost of carbon release back into the atmosphere upon logging is estimated as a function of rotation age using an adjusted pulpwood/sawlog ratio. The allowance for both non-timber benefits is found to lengthen the optimal rotation, in a large range of cases to infinity.

Keywords: NATURAL RESOURCES; ECONOMIC MODELS; ECONOMICS (search for similar items in EconPapers)
JEL-codes: C50 D00 Q20 (search for similar items in EconPapers)
Pages: 27 pages
Date: 2000
Note: This paper has now been published in: Creedy, J. and Wurzbacher, A.D. (2001), The Economic Value of a Forested Catchment with Timber, Water and Carbon Sequestration Benefits, Ecological Economics, 38, pp. 71-83.
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://www.economics.unimelb.edu.au/research/2000-2001.html (text/html)
Our link check indicates that this URL is bad, the error code is: 404 Not Found (http://www.economics.unimelb.edu.au/research/2000-2001.html [301 Moved Permanently]--> http://fbe.unimelb.edu.au/economics/research/2000-2001.html [301 Moved Permanently]--> https://fbe.unimelb.edu.au/economics/research/2000-2001.html)

Related works:
Journal Article: The economic value of a forested catchment with timber, water and carbon sequestration benefits (2001)
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:mlb:wpaper:753

Access Statistics for this paper

More papers in Department of Economics - Working Papers Series from The University of Melbourne Department of Economics, The University of Melbourne, 4th Floor, FBE Building, Level 4, 111 Barry Street. Victoria, 3010, Australia. Contact information at EDIRC.
Bibliographic data for series maintained by Dandapani Lokanathan ().