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Carbon Subsidies, Taxes and Optimal Forest Management

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  • Graeme Guthrie

    ()

  • Dinesh Kumareswaran

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File URL: http://hdl.handle.net/10.1007/s10640-008-9238-4
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Bibliographic Info

Article provided by European Association of Environmental and Resource Economists in its journal Environmental and Resource Economics.

Volume (Year): 43 (2009)
Issue (Month): 2 (June)
Pages: 275-293

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Handle: RePEc:kap:enreec:v:43:y:2009:i:2:p:275-293

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Web page: http://www.springerlink.com/link.asp?id=100263

Related research

Keywords: Optimal forest harvest policy; Real options; Carbon credits; Q23; Q28; Q15;

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References

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  1. Morck, Randall & Schwartz, Eduardo & Stangeland, David, 1989. "The Valuation of Forestry Resources under Stochastic Prices and Inventories," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 24(04), pages 473-487, December.
  2. Douglas J. Miller, 1999. "An Econometric Analysis of the Costs of Sequestering Carbon in Forests," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, Agricultural and Applied Economics Association, vol. 81(4), pages 812-824.
  3. Lubowski, Ruben & Plantinga, Andrew & Stavins, Robert, 2005. "Land-Use Change and Carbon Sinks: Econometric Estimation of the Carbon Sequestration Supply Function," Working Paper Series rwp05-001, Harvard University, John F. Kennedy School of Government.
  4. Gjolberg, Ole & Guttormsen, Atle G., 2002. "Real options in the forest: what if prices are mean-reverting?," Forest Policy and Economics, Elsevier, vol. 4(1), pages 13-20, May.
  5. Brent Sohngen & Robert Mendelsohn, 2003. "An Optimal Control Model of Forest Carbon Sequestration," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, Agricultural and Applied Economics Association, vol. 85(2), pages 448-457.
  6. Insley, M.C. & Wirjanto, T.S., 2010. "Contrasting two approaches in real options valuation: Contingent claims versus dynamic programming," Journal of Forest Economics, Elsevier, Elsevier, vol. 16(2), pages 157-176, April.
  7. Schatzki, Todd, 2003. "Options, uncertainty and sunk costs:: an empirical analysis of land use change," Journal of Environmental Economics and Management, Elsevier, vol. 46(1), pages 86-105, July.
  8. Oscar Cacho & Russell Wise & Kenneth MacDicken, 2004. "Carbon Monitoring Costs and their Effect on Incentives to Sequester Carbon through Forestry," Mitigation and Adaptation Strategies for Global Change, Springer, vol. 9(3), pages 273-293, July.
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Citations

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Cited by:
  1. Stéphane Couture & Arnaud Reynaud, 2009. "Forest Management Under Fire Risk When Forest Carbon Sequestration Has Value," LERNA Working Papers, LERNA, University of Toulouse 09.09.285, LERNA, University of Toulouse.
  2. Tee, James & Scarpa, Riccardo & Marsh, Dan & Guthrie, Graeme, 2012. "Valuation of Carbon Forestry and the New Zealand Emissions Trading Scheme: A Real Options Approach Using the Binomial Tree Method," 2012 Conference, August 18-24, 2012, Foz do Iguacu, Brazil, International Association of Agricultural Economists 131066, International Association of Agricultural Economists.
  3. Stefanie Engel & Charles Palmer & Luca Taschini & Simon Urech, 2012. "Cost-effective payments for reducing emissions from deforestation under uncertainty," LSE Research Online Documents on Economics 44837, London School of Economics and Political Science, LSE Library.
  4. Manley, Bruce, 2013. "How does real option value compare with Faustmann value in the context of the New Zealand Emissions Trading Scheme?," Forest Policy and Economics, Elsevier, vol. 30(C), pages 14-22.
  5. Creamer, Selmin F. & Genz, Alan & Blatner, Keith A., 2012. "The Effect of Fire Risk on the Critical Harvesting Times for Pacific Northwest Douglas-Fir When Carbon Price Is Stochastic," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 41(3), December.
  6. Susaeta, Andres & Chang, Sun Joseph & Carter, Douglas R. & Lal, Pankaj, 2014. "Economics of carbon sequestration under fluctuating economic environment, forest management and technological changes: An application to forest stands in the southern United States," Journal of Forest Economics, Elsevier, Elsevier, vol. 20(1), pages 47-64.

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