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Supply Factors

Tree planting data—area of planting activity—were obtained from various reports (see Prestemon and Abt 2002 for a compilation) and personal communications with analysts who have tracked the data for the final 4 years of the time series (Personal communication. 2005. S. Chapman, Georgia Forestry Commission, Macon, GA). To separate expansion from replacement investment, we compared planting with changes in the inventory of plantations reported for various years in Conner and Hartsell (2002). The increase in reported plantations was assumed to equal the amount of expansionary investment for the period. This amount was assigned to individual years for the period based on gross planting. The remainder (total planting minus expansionary investment) was defined as replacement investment.