Building aggregate timber supply models from individual harvest choice

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  • Authors: Polyakov, Maksym; Wear, David N.; Huggett, Robert
  • Publication Year: 2009
  • Publication Series: Other
  • Source: In: Australian Agricultural and Resource Economics Society 53rd Annual Conference; February 11-13, 2009: Cairns, Australia. 1-12.

Abstract

Timber supply has traditionally been modelled using aggregate data. In this paper, we build aggregate supply models for four roundwood products for the US state of North Carolina from a stand-level harvest choice model applied to detailed forest inventory. The simulated elasticities of pulpwood supply are much lower than reported by previous studies. Cross price elasticities indicate a dominant influence of sawtimber markets on pulpwood supply. This approach allows predicting the supply consequences of exogenous factors and supports regular updating of supply models.

  • Citation: Polyakov, Maksym; Wear, David N.; Huggett, Robert 2009. Building aggregate timber supply models from individual harvest choice. In: Australian Agricultural and Resource Economics Society 53rd Annual Conference; February 11-13, 2009: Cairns, Australia. 1-12.
  • Keywords: Timber supply, harvest choice, conditional logit, elasticity, expectations, simulation
  • Posted Date: February 11, 2010
  • Modified Date: September 16, 2010

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