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On Equilibrium Cycles and Normal Forests in Optimal Harvesting of Tree Vintages

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  • Salo, Seppo
  • Tahvonen, Olli
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    Article provided by Elsevier in its journal Journal of Environmental Economics and Management.

    Volume (Year): 44 (2002)
    Issue (Month): 1 (July)
    Pages: 1-22

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    Handle: RePEc:eee:jeeman:v:44:y:2002:i:1:p:1-22

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    Web page: http://www.elsevier.com/locate/inca/622870

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    1. Tahvonen, Olli & Salo, Seppo & Kuuluvainen, Jari, 2001. "Optimal forest rotation and land values under a borrowing constraint," Journal of Economic Dynamics and Control, Elsevier, Elsevier, vol. 25(10), pages 1595-1627, October.
    2. Raouf, BOUCEKKINE & David, DE LA CROIX & Omar, LICANDRO, 2006. "Vintage Capital," Discussion Papers (ECON - Département des Sciences Economiques), Université catholique de Louvain, Département des Sciences Economiques 2006014, Université catholique de Louvain, Département des Sciences Economiques.
    3. Heaps, Terry, 1984. "The forestry maximum principle," Journal of Economic Dynamics and Control, Elsevier, Elsevier, vol. 7(2), pages 131-151, May.
    4. Mitra, Tapan & Wan, Henry Jr., 1986. "On the faustmann solution to the forest management problem," Journal of Economic Theory, Elsevier, Elsevier, vol. 40(2), pages 229-249, December.
    5. Kemp, Murray C. & Moore, Elvin J., 1979. "Biological capital theory: a question and a conjecture," Economics Letters, Elsevier, Elsevier, vol. 4(2), pages 141-144.
    6. Raouf Boucekkine & Marc Germain & Omar Licandro & Alphonse Magnus, . "Numerical solution by iterative methods of a class on vintage capital models," Working Papers, FEDEA 97-26, FEDEA.
    7. Mitra, Tapan & Ray, Debraj & Roy, Rahul, 1991. "The economics of orchards: An exercise in point-input, flow-output capital theory," Journal of Economic Theory, Elsevier, Elsevier, vol. 53(1), pages 12-50, February.
    8. Gardner Brown, 2000. "Renewable Natural Resource Management and Use Without Markets," Working Papers, University of Washington, Department of Economics 0025, University of Washington, Department of Economics.
    9. Mitra, Tapan & Wan, Henry Y, Jr, 1985. "Some Theoretical Results on the Economics of Forestry," Review of Economic Studies, Wiley Blackwell, Wiley Blackwell, vol. 52(2), pages 263-82, April.
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    Cited by:
    1. Khan, M. Ali & Piazza, Adriana, 2011. "Classical turnpike theory and the economics of forestry," Journal of Economic Behavior & Organization, Elsevier, Elsevier, vol. 79(3), pages 194-210, August.
    2. Tahvonen, Olli, 2009. "Economics of harvesting age-structured fish populations," Journal of Environmental Economics and Management, Elsevier, Elsevier, vol. 58(3), pages 281-299, November.
    3. Giorgio FABBRI & Silvia FAGGIAN & Giuseppe FRENI, 2014. "On the Mitra-Wan Forest Management Problem in Continuous Time," Discussion Papers (IRES - Institut de Recherches Economiques et Sociales), Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES) 2014011, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    4. Angels Xabadia & Renan U. Goetz, 2008. "The Optimal Selective Logging Regime and the Faustmann Formula," Working Papers, Barcelona Graduate School of Economics 353, Barcelona Graduate School of Economics.
    5. Cunha-e-Sá, Maria A. & Rosa, Renato & Costa-Duarte, Clara, 2013. "Natural carbon capture and storage (NCCS): Forests, land use and carbon accounting," Resource and Energy Economics, Elsevier, Elsevier, vol. 35(2), pages 148-170.
    6. Duarte, Clara Costa & Sa, Maria A. Cunha e, 2006. "Continuous versus Discrete Time Forest Management Models with Carbon Sequestration Benefits," FEUNL Working Paper Series, Universidade Nova de Lisboa, Faculdade de Economia wp497, Universidade Nova de Lisboa, Faculdade de Economia.
    7. Terry Heaps, 2014. "Convergence of Optimal Harvesting Policies to a Normal Forest," Discussion Papers, Department of Economics, Simon Fraser University dp14-01, Department of Economics, Simon Fraser University.
    8. Adriana Piazza, 2009. "The optimal harvesting problem with a land market: a characterization of the asymptotic convergence," Economic Theory, Springer, Springer, vol. 40(1), pages 113-138, July.
    9. Salo, Seppo & Tahvonen, Olli, 2003. "On the economics of forest vintages," Journal of Economic Dynamics and Control, Elsevier, Elsevier, vol. 27(8), pages 1411-1435, June.
    10. Salant, Stephen, 2012. "The Equilibrium Price Path of Timber in the Absence of Replanting," Discussion Papers, Resources For the Future dp-12-38, Resources For the Future.
    11. Renato Rosa & Clara Costa Duarte & Maria A. Cunha-e-Sá, 2009. "The Role of Forests as Carbon Sinks: Land-Use and Carbon Accounting," Working Papers, Fondazione Eni Enrico Mattei 2009.61, Fondazione Eni Enrico Mattei.
    12. Ali Khan, M. & Piazza, Adriana, 2012. "On the Mitra–Wan forestry model: A unified analysis," Journal of Economic Theory, Elsevier, Elsevier, vol. 147(1), pages 230-260.
    13. Adriana Piazza, 2010. "About optimal harvesting policies for a multiple species forest without discounting," Journal of Economics, Springer, Springer, vol. 100(3), pages 217-233, July.
    14. KHAZRI, Olfa & LASSERRE, Pierre, 2008. "Forest Management : Are Double or Mixed Rotations Desirable?," Cahiers de recherche, Centre interuniversitaire de recherche en économie quantitative, CIREQ 12-2008, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
    15. Khazri, Olfa & Lasserre, Pierre, 2011. "Forest management: Are double or mixed rotations preferable to clear cutting?," Resource and Energy Economics, Elsevier, Elsevier, vol. 33(1), pages 155-171, January.
    16. Duarte, Clara Costa & Sa, Maria A. Cunha e, 2006. "Forest vintages and carbon sequestration," FEUNL Working Paper Series, Universidade Nova de Lisboa, Faculdade de Economia wp482, Universidade Nova de Lisboa, Faculdade de Economia.
    17. Jussi Lintunen & Jussi Uusivuori, 2014. "On The Economics of Forest Carbon: Renewable and Carbon Neutral But Not Emission Free," Working Papers, Fondazione Eni Enrico Mattei 2014.13, Fondazione Eni Enrico Mattei.
    18. Salant, Stephen W., 2013. "The equilibrium price path of timber in the absence of replanting: does Hotelling rule the forests too?," Resource and Energy Economics, Elsevier, Elsevier, vol. 35(4), pages 572-581.
    19. Noack, Frederik A.W. & Manthey, Michael & Ruitenbeek, Jack H. & Mohadjer, M.R. Marvie, 2010. "Separate or mixed production of timber, livestock and biodiversity in the Caspian Forest," Ecological Economics, Elsevier, Elsevier, vol. 70(1), pages 67-76, November.
    20. Ken-Ichi Akao, 2011. "Optimum forest program when the carbon sequestration service of a forest has value," Environmental Economics and Policy Studies, Society for Environmental Economics and Policy Studies - SEEPS, Society for Environmental Economics and Policy Studies - SEEPS, vol. 13(4), pages 323-343, December.

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