Optimal Forest Policies in an Overlapping Generations Economy with Timber Bequests
This paper studies optimal forest policies in an overlapping generations forest economy with one-sided altruism and public goods, where timber and monetary bequests can be made across generations. We extend the existing economics literature by demonstrating that timber bequests can dominate money bequests in many situations, and that timber bequests may even by operative in dynamically inefficient steady states.
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