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A Dynamic Analysis of the Global Timber Market under Global Warming: An Integrated Modeling Approach

Author

Listed:
  • Dug Man Lee

    () (Department of Economics, Sungkyunkwan University)

  • Kenneth S. Lyon

    () (Department of Economics, Utah State University)

Abstract

We develop a dynamic integrated modeling approach to identify the effect of global warming on the global timber market. The Timber Supply Model (TSM) 2000, BIOME 3, and Hamburg are used as suitable economic and ecological models. In particular, the TSM 2000 is developed to incorporate important additional components in the global timber market. We estimate dynamic ecological change based on the simulation results of BIOME 3 using Hamburg and linearity assumptions about change in climate and ecosystem. The projected dynamic ecological changes are run through the TSM 2000 to identify the effects of dynamic climate change on the timber market. We simulate a non–climate change base scenario and a climate change scenario of the TSM 2000, and we conclude that global warming has a positive effect on the global timber market through an increase of timber production causing stumpage prices to be lower than they otherwise would have been. In the welfare sense, we also identify that global warming is economically beneficial to society through the global timber market.

Suggested Citation

  • Dug Man Lee & Kenneth S. Lyon, 2004. "A Dynamic Analysis of the Global Timber Market under Global Warming: An Integrated Modeling Approach," Southern Economic Journal, Southern Economic Association, vol. 70(3), pages 467-489, January.
  • Handle: RePEc:sej:ancoec:v:70:3:y:2004:p:467-489
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    Cited by:

    1. Lyon, Kenneth S., 2004. "Modeling Timber Supply, Fuel-Wood, And Atmospheric Carbon Mitigation," Economics Research Institute, ERI Series 28339, Utah State University, Economics Department.
    2. Joelle SAAD-LESSLER & George TSELIOUDIS, 2010. "Storms, Climate Change, And The Us Economy: A National Analysis," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 10(1).
    3. Joelle SAAD-LESSLER & George TSELIOUDES, 2009. "Storms, Climate Change, and the US Economy: A National Analysis," Regional and Sectoral Economic Studies, Euro-American Association of Economic Development, vol. 9(1).
    4. Sorda, Giovanni & Madlener, Reinhard, 2012. "Cost-Effectiveness of Lignocellulose Biorefineries and their Impact on the Deciduous Wood Markets in Germany," FCN Working Papers 8/2012, E.ON Energy Research Center, Future Energy Consumer Needs and Behavior (FCN).

    More about this item

    JEL classification:

    • Q23 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Forestry

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