Timber Market and Welfare Effects of Hurricane Hugo
Investigators:
Jeffrey P. Prestemon,
Southern Research Station
Thomas P. Holmes, USDA-Forest Service, Southern Research Station
Description:
Hurricane Hugo struck the Carolinas in late September, 1989, causing massive timber devastation, especially in South Carolina. Key questions regard how different parts of the timber sector were affected in the short- and long-run by the hurricane. Cointegration analysis was employed to evaluate the price effects on timber in South Carolina, while intervention analysis was used to calculate economic effects of the hurricane on timber producers and consumers in the state. While two manuscripts have been prepared to date and are in the journal review process, work on this topic is not yet complete.
Problem Area(s):
Market-level models, Regional analyses
Status:
Ongoing
Products:
Prestemon, J. P., and T. P. Holmes. In press. Timber price dynamics following a natural catastrophe. American Journal of Agricultural Economics.
Prestemon, Jeffrey P., and Thomas P. Holmes. 1998. Effects of Hurricane Hugo on South Carolina timber prices. Pages 93-100 In: Proceedings, 27th Annual Southern Forest Economics Workshop, Little Rock, Arkansas, March 24-26, 1997. University of Arkansas and USDA-Forest Service.
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modified:
13-MAR-2000
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USDA FS SRS
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