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Title: Building aggregate timber supply models from individual harvest choice

Author: Polyakov, Maksym; Wear, David N.; Huggett, Robert;

Date: 2009

Source: In: Australian Agricultural and Resource Economics Society 53rd Annual Conference; February 11-13, 2009: Cairns, Australia. 1-12.

Publication Series: Other

Description: 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.

Keywords: Timber supply, harvest choice, conditional logit, elasticity, expectations, simulation

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Citation:


Polyakov, Maksym; Wear, David N.; Huggett, Robert 2009. Building aggregate timber supply models from individual harvest choice. In: Australian Agricultural and Resource Economics Society 53rd Annual Conference; February 11-13, 2009: Cairns, Australia. 1-12.

 


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