Building aggregate timber supply models from individual harvest choice
AbstractTimber 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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Bibliographic InfoPaper provided by Australian Agricultural and Resource Economics Society in its series 2009 Conference (53rd), February 11-13, 2009, Cairns, Australia with number 48168.
Date of creation: 2009
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Timber supply; harvest choice; conditional logit; elasticity; expectations; simulation.;
This paper has been announced in the following NEP Reports:
- NEP-AGR-2009-03-28 (Agricultural Economics)
- NEP-ALL-2009-03-28 (All new papers)
- NEP-CMP-2009-03-28 (Computational Economics)
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