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A Global Model Of Climate Change Impacts On Timber Markets

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Author Info

  • Sohngen, Brent
  • Mendelsohn, Robert
  • Sedjo, Roger A.

Abstract

Several papers have now estimated the impact of climate change on national timber markets, but few studies have measured impacts globally. Further, the literature on impacts has focused heavily on changes in productivity and has not integrated movements of biomes as well. Here, a dynamic model of ecological change and economic change is developed to capture the impact of climate change on world timber markets. Climate change is predicted to increase global timber production as producers in low-mid latitude forests react quickly with more productive short-rotation plantations, driving down timber prices. Producers in mid-high latitude forests, in contrast, are likely to be hurt by the lower prices, dieback, and slower productivity increases because of long-rotation species. Consumers in all regions benefit from the lower prices, and the overall impacts of climate change in timber markets are expected to be beneficial, increasing welfare in those markets from 2% to 8%.

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File URL: http://purl.umn.edu/31044
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Bibliographic Info

Article provided by Western Agricultural Economics Association in its journal Journal of Agricultural and Resource Economics.

Volume (Year): 26 (2001)
Issue (Month): 02 (December)
Pages:

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Handle: RePEc:ags:jlaare:31044

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Web page: http://waeaonline.org/
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Related research

Keywords: Resource /Energy Economics and Policy;

References

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  1. Darwin, Roy & Tsigas, Marinos & Lewandrowski, Jan & Raneses, Anton, 1996. "Land use and cover in ecological economics," Ecological Economics, Elsevier, vol. 17(3), pages 157-181, June.
  2. Darwin, Roy & Tsigas, Marinos E. & Lewandrowski, Jan & Raneses, Anton, 1995. "World Agriculture and Climate Change: Economic Adaptations," Agricultural Economics Reports 33933, United States Department of Agriculture, Economic Research Service.
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Citations

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Cited by:
  1. Sedjo, Roger A., 2010. "Adaptation of Forests to Climate Change: Some Estimates," Discussion Papers dp-10-06, Resources For the Future.
  2. Kopp, Robert E. & Golub, Alexander & Keohane, Nathaniel O. & Onda, Chikara, 2012. "The influence of the specification of climate change damages on the social cost of carbon," Economics - The Open-Access, Open-Assessment E-Journal, Kiel Institute for the World Economy, vol. 6(13), pages 1-40.
  3. Guido Franco & Daniel Cayan & Susanne Moser & Michael Hanemann & Myoung-Ae Jones, 2011. "Second California Assessment: integrated climate change impacts assessment of natural and managed systems. Guest editorial," Climatic Change, Springer, vol. 109(1), pages 1-19, December.
  4. Karen Fisher-Vanden & Ian Sue Wing & Elisa Lanzi & David Popp, 2013. "Modeling climate change feedbacks and adaptation responses: recent approaches and shortcomings," Climatic Change, Springer, vol. 117(3), pages 481-495, April.
  5. Aldy, Joseph E. & Krupnick, Alan J. & Newell, Richard G. & Parry, Ian W.H. & Pizer, William A., 2009. "Designing Climate Mitigation Policy," Discussion Papers dp-08-16, Resources For the Future.
  6. P. Link & Richard Tol, 2011. "Estimation of the economic impact of temperature changes induced by a shutdown of the thermohaline circulation: an application of FUND," Climatic Change, Springer, vol. 104(2), pages 287-304, January.
  7. Latta, Gregory S. & Sjølie, Hanne K. & Solberg, Birger, 2013. "A review of recent developments and applications of partial equilibrium models of the forest sector," Journal of Forest Economics, Elsevier, vol. 19(4), pages 350-360.
  8. Kopp, Robert E. & Golub, Alexander & Keohane, Nathaniel O. & Onda, Chikara, 2011. "The influence of the specification of climate change damages on the social cost of carbon," Economics Discussion Papers 2011-22, Kiel Institute for the World Economy.
  9. Manuel Guariguata & Jonathan Cornelius & Bruno Locatelli & Claudio Forner & G. Sánchez-Azofeifa, 2008. "Mitigation needs adaptation: Tropical forestry and climate change," Mitigation and Adaptation Strategies for Global Change, Springer, vol. 13(8), pages 793-808, October.
  10. L. Hannah & C. Costello & C. Guo & L. Ries & C. Kolstad & D. Panitz & N. Snider, 2011. "The impact of climate change on California timberlands," Climatic Change, Springer, vol. 109(1), pages 429-443, December.
  11. Jolejole-Foreman, Maria Christina & Baylis, Katherine R. & Lipper, Leslie, 2012. "Land Degradation’s Implications on Agricultural Value of Production in Ethiopia: A look inside the bowl," 2012 Conference, August 18-24, 2012, Foz do Iguacu, Brazil 126251, International Association of Agricultural Economists.
  12. Guo, Christopher & Costello, Christopher, 2013. "The value of adaption: Climate change and timberland management," Journal of Environmental Economics and Management, Elsevier, vol. 65(3), pages 452-468.

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