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    Author(s): Maksym Polyakov; David N. WearRobert Huggett
    Date: 2009
    Source: In: Australian Agricultural and Resource Economics Society 53rd Annual Conference; February 11-13, 2009: Cairns, Australia. 1-12.
    Publication Series: Other
    PDF: View PDF  (105.84 KB)

    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.

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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.

    Keywords

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

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