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Title: Building aggregate timber supply models from individual harvest choice
Author: Polyakov, Maksym; Wear, David N.; Huggett, Robert;
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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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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