A Comparison of Timber Models for Use in Public Policy Analysis
AbstractIn this paper, we compare and contrast two types of timber models that have been used for public policy analysis. These models have been variously used to predict price, inventory and market welfare impacts under different exogenous forces that impact timber markets. The framework and theory for each model type is presented and discussed. We then thoroughly test the two model types across six potential exogenous shocks to timber markets, ranging from instantaneous demand shocks to gradual supply adjustments. Our comparison indicates that these models predict potentially important differences in timber market behavior. These differences are important to consider for those who do public policy analysis.
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Bibliographic InfoPaper provided by Resources For the Future in its series Discussion Papers with number dp-96-12.
Date of creation: 01 Mar 1996
Date of revision:
This paper has been announced in the following NEP Reports:
- NEP-ALL-2006-01-24 (All new papers)
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