A Forest-Profit Expectations Dataset for New Zealand, 1990–2008
AbstractIn this paper, we construct a dataset of annual expected forest profits in New Zealand from 1990–2008 at a fine spatial resolution. We do not include land values in any of our profit calculations. We estimate four measures of expected forest profits based around net present value (NPV), land expectation value (LEV), equal annual equivalent (EAE), and internal rate of return (IRR). Our estimates of expected profits are based on the assumption that land owners form their expectations adaptively; that is, they use recent data on prices and costs to form expectations. We illustrate our data by showing regional variation in each of our measures, changes over time in NPV on land in forest in 2008, and variation in NPV over space in 2008. The final dataset, working datasets, and the code used in this work are publicly available to the research community and can be accessed from the authors’ website: http://www.motu.org.nz/building-capacity/dataset/u10073_forest_profit_expectations_dataset.
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Bibliographic InfoPaper provided by Motu Economic and Public Policy Research in its series Working Papers with number 12_07.
Length: 25 pages
Date of creation: Jun 2012
Date of revision:
Forestry; expected profits; expected investment returns; New Zealand; dataset;
Find related papers by JEL classification:
- Q5 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics
- Q15 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Land Ownership and Tenure; Land Reform; Land Use; Irrigation; Agriculture and Environment
- Q23 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Forestry
- Q24 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Land
This paper has been announced in the following NEP Reports:
- NEP-AGR-2012-07-08 (Agricultural Economics)
- NEP-ALL-2012-07-08 (All new papers)
- NEP-ENV-2012-07-08 (Environmental Economics)
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.:
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