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A Test of the Hotelling Rule Using Old-Growth Timber Data

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Author Info
Livernois, J.
Thille, H.
Zhang, X.

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Paper provided by University of Guelph, Department of Economics in its series Working Papers with number 2003-4.

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Length: 25 pages
Date of creation: 2003
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Handle: RePEc:gue:guelph:2003-4

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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Newey, Whitney K & West, Kenneth D, 1987. "A Simple, Positive Semi-definite, Heteroskedasticity and Autocorrelation Consistent Covariance Matrix," Econometrica, Econometric Society, vol. 55(3), pages 703-08, May. [Downloadable!] (restricted)
    Other versions:
  2. Smith, V Kerry, 1979. "Natural Resource Scarcity: A Statistical Analysis," The Review of Economics and Statistics, MIT Press, vol. 61(3), pages 423-27, August. [Downloadable!] (restricted)
  3. Heaps, Terry, 1984. "The forestry maximum principle," Journal of Economic Dynamics and Control, Elsevier, vol. 7(2), pages 131-151, May. [Downloadable!] (restricted)
  4. Cairns, Robert D., 1986. "More on depletion in the nickel industry," Journal of Environmental Economics and Management, Elsevier, vol. 13(1), pages 93-98, March. [Downloadable!] (restricted)
  5. Brian C. Murray & David N. Wear, 1998. "Federal Timber Restrictions and Interregional Arbitrage in U.S. Lumber," Land Economics, University of Wisconsin Press, vol. 74(1), pages 76-91. [Downloadable!] (restricted)
  6. John Hartwick, 1975. "Exploitation of Many Deposits of an Exhaustible Resource," Working Papers 182, Queen's University, Department of Economics.
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  7. Denise Young, 1992. "Cost Specification and Firm Behaviour in a Hotelling Model of Resource Extraction," Canadian Journal of Economics, Canadian Economics Association, vol. 25(1), pages 41-59, February. [Downloadable!] (restricted)
  8. Slade, Margaret E., 1982. "Trends in natural-resource commodity prices: An analysis of the time domain," Journal of Environmental Economics and Management, Elsevier, vol. 9(2), pages 122-137, June. [Downloadable!] (restricted)
  9. Miller, Merton H & Upton, Charles W, 1985. " The Pricing of Oil and Gas: Some Further Results," Journal of Finance, American Finance Association, vol. 40(3), pages 1009-18, July. [Downloadable!] (restricted)
  10. Farrow, Scott, 1985. "Testing the Efficiency of Extraction from a Stock Resource," Journal of Political Economy, University of Chicago Press, vol. 93(3), pages 452-87, June. [Downloadable!] (restricted)
  11. Andrews, Donald W K, 1989. "Power in Econometric Applications," Econometrica, Econometric Society, vol. 57(5), pages 1059-90, September. [Downloadable!] (restricted)
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  12. Davis, Graham A & Cairns, Robert D, 1999. "Valuing Petroleum Reserves Using Current Net Price," Economic Inquiry, Oxford University Press, vol. 37(2), pages 295-311, April.
  13. Susan Athey & Jonathan Levin, 1999. "Information and Competition in U.S. Forest Service Timber Auctions," Working papers 99-12, Massachusetts Institute of Technology (MIT), Department of Economics.
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  14. Cees Withagen, 1998. "Untested Hypotheses in Non-Renewable Resource Economics," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 11(3), pages 623-634, April. [Downloadable!] (restricted)
  15. Swierzbinski, Joseph E & Mendelsohn, Robert, 1989. "Exploration and Exhaustible Resources: The Microfoundations of Aggregate Models," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 30(1), pages 175-86, February. [Downloadable!] (restricted)
  16. Margaret E. Slade & Henry Thille, 1997. "Hotelling Confronts CAPM: A Test of the Theory of Exhaustible Resources," Canadian Journal of Economics, Canadian Economics Association, vol. 30(3), pages 685-708, August. [Downloadable!] (restricted)
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  17. Miller, Merton H & Upton, Charles W, 1985. "A Test of the Hotelling Valuation Principle," Journal of Political Economy, University of Chicago Press, vol. 93(1), pages 1-25, February. [Downloadable!] (restricted)
  18. Baldwin, Laura H & Marshall, Robert C & Richard, Jean-Francois, 1997. "Bidder Collusion at Forest Service Timber Sales," Journal of Political Economy, University of Chicago Press, vol. 105(4), pages 657-99, August.
  19. John Livernois & Patrick Martin, 2001. "Price, scarcity rent, and a modified r per cent rule for non-renewable resources," Canadian Journal of Economics, Canadian Economics Association, vol. 34(3), pages 827-845, August. [Downloadable!] (restricted)
  20. Young, Denise & Ryan, David L., 1996. "Empirical testing of a risk-adjusted Hotelling model," Resource and Energy Economics, Elsevier, vol. 18(3), pages 265-289, October. [Downloadable!] (restricted)
  21. Gregory M. Ellis & Robert Halvorsen, 2002. "Estimation of Market Power in a Nonrenewable Resource Industry," Journal of Political Economy, University of Chicago Press, vol. 110(4), pages 883-899, August. [Downloadable!] (restricted)
  22. Lyon, Kenneth S., 1981. "Mining of the forest and the time path of the price of timber," Journal of Environmental Economics and Management, Elsevier, vol. 8(4), pages 330-344, December. [Downloadable!] (restricted)
  23. Livernois, John R & Uhler, Russell S, 1987. "Extraction Costs and the Economics of Nonrenewable Resources," Journal of Political Economy, University of Chicago Press, vol. 95(1), pages 195-203, February.
  24. Halvorsen, Robert & Smith, Tim R, 1991. "A Test of the Theory of Exhaustible Resources," The Quarterly Journal of Economics, MIT Press, vol. 106(1), pages 123-40, February. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Ian Keay, 2007. "Resource Rents and their Impact on Institutional and Economic Development," Working Papers 1143, Queen's University, Department of Economics. [Downloadable!]
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