Consistent estimation of long-run nonindustrial private forest owner timber supply using micro data

Ibrahim M Favada, Jari Kuuluvainen, Jussi Uusivuori, Ibrahim Favada

Tutkimustuotos: ArtikkelijulkaisuArtikkeliTieteellinenvertaisarvioitu

Kuvaus

In this paper, the effects of stumpage prices and forest and landowner characteristics on nonindustrial private forest owners' long-run timber supply are examined using cross-sectional variation in a data set of 1860 landowners in Finland during 1994-1998. We estimate an inverse hyperbolic sine Tobit model allowing for heteroscedasticity and nonnormality of errors. The hypotheses of the rotation model can be examined by decomposing the effects of the exogenous variables into the effects on the conditional mean of nonzero harvests and the effects on the probability of nonzero harvest. The results of the study are consistent with the Faustinann rotation model when the forest owner simultaneously decides both the optimal rotation age of an even-aged stand and the optimal life-cycle consumption of goods and services with in situ valuation of standing timber.
Alkuperäiskielienglanti
LehtiCanadian Journal of Forest Research
Vuosikerta37
Numero8
Sivut1485-1494
Sivumäärä10
ISSN0045-5067
DOI - pysyväislinkit
TilaJulkaistu - 2007
OKM-julkaisutyyppiA1 Alkuperäisartikkeli tieteellisessä aikakauslehdessä, vertaisarvioitu

Tieteenalat

  • 411 Maatalous ja metsätieteet

Lainaa tätä

Favada, Ibrahim M ; Kuuluvainen, Jari ; Uusivuori, Jussi ; Favada, Ibrahim. / Consistent estimation of long-run nonindustrial private forest owner timber supply using micro data. Julkaisussa: Canadian Journal of Forest Research. 2007 ; Vuosikerta 37, Nro 8. Sivut 1485-1494.
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abstract = "In this paper, the effects of stumpage prices and forest and landowner characteristics on nonindustrial private forest owners' long-run timber supply are examined using cross-sectional variation in a data set of 1860 landowners in Finland during 1994-1998. We estimate an inverse hyperbolic sine Tobit model allowing for heteroscedasticity and nonnormality of errors. The hypotheses of the rotation model can be examined by decomposing the effects of the exogenous variables into the effects on the conditional mean of nonzero harvests and the effects on the probability of nonzero harvest. The results of the study are consistent with the Faustinann rotation model when the forest owner simultaneously decides both the optimal rotation age of an even-aged stand and the optimal life-cycle consumption of goods and services with in situ valuation of standing timber.",
keywords = "411 Agriculture and forestry",
author = "Favada, {Ibrahim M} and Jari Kuuluvainen and Jussi Uusivuori and Ibrahim Favada",
year = "2007",
doi = "10.1139/XO7-009",
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Consistent estimation of long-run nonindustrial private forest owner timber supply using micro data. / Favada, Ibrahim M; Kuuluvainen, Jari; Uusivuori, Jussi; Favada, Ibrahim.

julkaisussa: Canadian Journal of Forest Research, Vuosikerta 37, Nro 8, 2007, s. 1485-1494.

Tutkimustuotos: ArtikkelijulkaisuArtikkeliTieteellinenvertaisarvioitu

TY - JOUR

T1 - Consistent estimation of long-run nonindustrial private forest owner timber supply using micro data

AU - Favada, Ibrahim M

AU - Kuuluvainen, Jari

AU - Uusivuori, Jussi

AU - Favada, Ibrahim

PY - 2007

Y1 - 2007

N2 - In this paper, the effects of stumpage prices and forest and landowner characteristics on nonindustrial private forest owners' long-run timber supply are examined using cross-sectional variation in a data set of 1860 landowners in Finland during 1994-1998. We estimate an inverse hyperbolic sine Tobit model allowing for heteroscedasticity and nonnormality of errors. The hypotheses of the rotation model can be examined by decomposing the effects of the exogenous variables into the effects on the conditional mean of nonzero harvests and the effects on the probability of nonzero harvest. The results of the study are consistent with the Faustinann rotation model when the forest owner simultaneously decides both the optimal rotation age of an even-aged stand and the optimal life-cycle consumption of goods and services with in situ valuation of standing timber.

AB - In this paper, the effects of stumpage prices and forest and landowner characteristics on nonindustrial private forest owners' long-run timber supply are examined using cross-sectional variation in a data set of 1860 landowners in Finland during 1994-1998. We estimate an inverse hyperbolic sine Tobit model allowing for heteroscedasticity and nonnormality of errors. The hypotheses of the rotation model can be examined by decomposing the effects of the exogenous variables into the effects on the conditional mean of nonzero harvests and the effects on the probability of nonzero harvest. The results of the study are consistent with the Faustinann rotation model when the forest owner simultaneously decides both the optimal rotation age of an even-aged stand and the optimal life-cycle consumption of goods and services with in situ valuation of standing timber.

KW - 411 Agriculture and forestry

U2 - 10.1139/XO7-009

DO - 10.1139/XO7-009

M3 - Article

VL - 37

SP - 1485

EP - 1494

JO - Canadian Journal of Forest Research

JF - Canadian Journal of Forest Research

SN - 0045-5067

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