Long-run timber supply and the economics of timber production

Forest Science

Volumn 43, Issue 1, 1997, Pages 113-120

  Yin, Runsheng ^a   Newman, David H ^a  

^a UNIVERSITY OF GEORGIA   (United States)

Author keywords

Faustmann; production function; profit function

Indexed keywords

EID: 0030937656     PISSN: 0015749X     EISSN: None     Source Type: Journal    
DOI: None     Document Type: Article

References (40)

1. ADAMS, D.M., AND R.W. HAYNES. 1980. The 1980 softwood timber assessment market model: Structure, projections and policy simulations. For. Sci. Monogr. 22.
2. ATKINSON, S., AND C. CORNWELL. 1993. Measuring technical efficiency with panel data: A dual approach. J. Econ. 59:257-261.
3. BERCK, P. 1979. Economics of timber: A renewable resource in the long run. Bell J. Econ. 10:447-462.
4. BINKLEY, C.S. 1993. Long-run timber supply: Price elasticity, inventory elasticity, and the use of capital in timber production. Natur. Resour. Model. 7:163-181.
5. BINKLEY, C.S. 1987a. Economic models of timber supply. In The global forest sector: An analytical perspective, M. Kallio, et al. (eds.). Wiley, New York.
6. BINKLEY, C.S. 1987b. When is the optimal economic rotation longer than the maximum sustained yield? J. Environ. Econ. Manage. 14(2):152-158.
7. BINKLEY, C.S. 1983. Long run timber supply for the spruce-fir region of Maine. Pap. prepared for the James W. Sewall Co., Old Town, ME.
8. BRANNLUND, R., P.O. JOHANSSON, AND K.G. LÖFGREN. 1985. An econometric analysis of aggregate sawtimber and pulpwood supply in Sweden. For. Sci.31:595-606.
9. CARDELLICHIO, P.A., AND C.S. BINKLEY. 1984. Hardwood lumber demand in the United States, 1950-1980. For. Prod. J. 34:15-22.
10. CARTER, D.R. 1993. Empirical evidence on efficiency in forest-related markets. Ph.D. Diss., Univ. of Georgia.
11. CHAMBERS, R.G. 1988. Applied production analysis. Cambridge University Press, Cambridge, UK.
12. CHANG, S.J. 1983. Rotation age, management intensity, and the economic factors of timber production. For. Sci. 29:267-277.
13. CLARK, C.W. 1976. Mathematical bioeconomics. Wiley, New York.
14. CLAWSON, M. 1979. Forests in the long sweep of American history. Science 204:1168-1174.
15. COMOLU, P.M. 1981. Principles and policy in forestry economics. Bell J. Econ. 12:300309.
16. FAUSTMANN, M. 1968. On the determination of the value which forest land and immature stands pose for forestry. In Martin Faustmann and the evolution of discounted cash flow, Gane, M. (ed.). Pap. 42. Oxford Institute, Oxford, U.K. 54 p.
17. HETEMAKI, L., AND J. KUULUVAINEN. 1991. Estimating supply and demand for roundwood: How to incorporate the data and theory? Finn. For. Res. Inst., Dep. of For. Econ. Work. Pap.
18. HYDE, W.F. 1980. Timber supply, land allocation, and economic efficiency. The John Hopkins University Press, Baltimore, MD.
19. JACKSON, D.H. 1983. Sub-regional timber demand analysis: remarks and an approach to modeling regional demand for national forest stumpage. For. Ecol. Manage. 5:109-118.
20. JACKSON, D.H. 1980. The microeconomics of the timber industry. Westview Press, Boulder, CO.
21. JOHANSSON, P.O., AND K.G. LÖFGREN. 1985. The economics of forestry and natural resources. Basil Blackwell Inc., New York.
22. JOHNSON, R.N., AND G. LIBECAP. 1980. Efficient markets and great lakes timber: a conservation issue reexamined. Explor. Econ. Hist. 17:372-385.
23. LÖFGREN, K.J. 1985. Effect on the socially optimal rotation period in forestry of biotechnological improvement of the growth function. For. Ecol. Manage. 10:233-249.
24. LYON, K.S., AND R.A. SEDJO. 1983. An optimal control theory model to estimate the regional long-term supply of timber. For. Sci. 29:798812.
25. NAUTIYAL, J.C., AND K.L. BELLI. 1989. Study of production functions for modeling forest biomass: An area for research. For. Sci. 35:843849.
26. NEWMAN, D.H. 1991. Changes in southern softwood productivity: A modified production function analysis. Can. J. For. Res. 21:1278-1287.
27. NEWMAN, D.H. 1987. An econometric analysis of the southern softwood stumpage market: 1950-1980. For. Sci. 33:932-945.
28. NEWMAN, D.H., AND D.N. WEAR. 1993. Production economics of private forestry: A comparison of industrial and nonindustrial forest owners. Am. J. Agric. Econ. 75:674-684.
29. RISBRUDT, C.D. 1979. Past and future technological change in the U.S. forest industries. Ph.D. Diss., Michigan State Univ., East Lansing, MI.
30. ROBINSON, V.L., A.A., MONTGOMERY, AND J.D. STRANGE. 1980. Economic growth goal for timber in the Southeast. For. Prod. J. 31:69-76.
31. ROBINSON, V.L. 1975. An estimate of technological progress in lumber and stumpage products industry. For. Sci. 21:149-154.
32. SAMUELSON, P.A. 1976. Economics of forestry in an evolving society. Econ. Inquiry 14:446-492.
33. SCHMIDT, P., AND C.A.K. LOVELL. 1979. Estimating technical and allocative inefficiency relative to stochastic production and cost frontiers. J. Econ. 9:343-366.
34. SILBERBERG, E. 1990. The structure of economics. Ed. 2. McGraw-Hill, New York.
35. SMITH, V.L. 1961. Investment and production. Harvard University Press, Cambridge.
36. VARIAN, H.R. 1992. Microeconomic analysis. Ed. 3. W.W Norton & Company, New York.
37. VAUX, H.J. 1954. Economics of young-growth sugar pine resources. Univ. of Calif., Berkeley, Div. of Agric. Sci. Bull. 78.
38. WEAR, D.N. 1991. Evaluating technology and policy shifts in the forest sector: Technical issues for analysis. In Proc. of South. For. Econ. Workshop, Chang, J. (ed).
39. WILLIAMS, J.S., AND J.C. NAUTIYAL. 1990. The long-run timber supply function. For. Sci. 36:77-86.
40. YIN, R., AND D.H. NEWMAN. 1995. Optimal timber rotations with evolving prices and costs revisited. For. Sci. 41:477-490.