scholarly journals Using Simple Marginal Analysis and Density Management Diagrams for Prescribing Density Management

2002 ◽  
Vol 26 (2) ◽  
pp. 85-92 ◽  
Author(s):  
Thomas J. Dean ◽  
S.Joseph Chang
Keyword(s):  
Interest Rate ◽  
Interest Rates ◽  
Loblolly Pine ◽  
Site Occupancy ◽  
Basal Area ◽  
Planting Density ◽  
Land Value ◽  
Marginal Analysis ◽  
Rotation Length ◽  
Growing Stock

Abstract This article presents a procedure to produce management regimes that not only maximize land value but also reflect stand development with simple marginal analyses of the accumulation and control of growing stock. An upper limit of growing stock is determined by translating management objectives into a future desired structure, and with this value as a guide for thinning age, marginal analysis is used to determine the planting density and the residual basal area after thinning. The procedure is demonstrated for a hypothetical loblolly pine plantation growing on land with a site index of 65 ft at 25 yr. The effects of various interest rates for a fixed rotation length and various rotation lengths for a fixed interest rate on initial planting density and residual growing stock after low thinning are analyzed. Optimal planting density decreased with increasing interest rate and rotation length. Thinning ages increased as initial planting density decreased, which caused optimal residual growing stock to increase with increasing interest rate and rotation age. According to this study, maximum land value is achieved when the growing stock limits are set to approximately the lower limit of full-site occupancy and the threshold of self-thinning. In terms of relative density, the ideal limits in growing stock for maximizing land value identified in this study are 35 and 55% of maximum SDI. South. J. Appl. For. 26(2):85–92.

Early Results from an Old-Field Loblolly Pine Spacing Study in the Georgia Piedmont with Competition Control

1993 ◽  
Vol 17 (4) ◽  
pp. 193-196 ◽  
Author(s):  
L. V. Pienaar ◽  
B. D. Shiver
Keyword(s):  
Loblolly Pine ◽  
Basal Area ◽  
Planting Density ◽  
Yield Potential ◽  
Stem Volume ◽  
Annual Increment ◽  
Average Growth ◽  
Vegetation Control ◽  
Early Results ◽  
Georgia Piedmont

Abstract The study reported here provides information on the yield potential of improved loblolly pine seedlings planted on marginal agricultural cropland in the Georgia Piedmont with control of herbaceous competition. Early growth rates greatly exceed those in existing plantations established on cutover and mechanically site-prepared land in this region without additional control of competing vegetation. After 8 growing seasons, average tree height, average dbh, basal area per acre, and stem volume per acre were all influenced by planting density, but the mean annual increment of merchantable volume (trees 4.0 in. dbh and bigger to a 2.0 in. top diameter) at age 8 yr, for planting densities of 400 to 1000 trees/ac, was 230 ft³, or approximately 3 cords/ac/yr. This is more than twice the average growth rate in this region of cutover and mechanically site-prepared loblolly plantations without additional vegetation control. These results should be of particular interest to prospective participants in the Conservation Reserve Program (CRP). South. J. Appl. For. 17(4):193-196.

Loblolly pine growth response to herbaceous vegetation control at different planting densities

1999 ◽  
Vol 29 (7) ◽  
pp. 960-967 ◽  
Author(s):  
Harold Quicke ◽  
Glenn Glover ◽  
Ralph S Meldahl
Keyword(s):  
Loblolly Pine ◽  
Basal Area ◽  
Planting Density ◽  
Herbaceous Vegetation ◽  
Vegetation Control ◽  
Volume Yield ◽  
Volume Response ◽  
Adjustment Term ◽  
Pinus Taeda L ◽  
Positive Effect

Growth of Pinus taeda L., with and without control of competing herbaceous vegetation, was evaluated over 15 years at planting densities ranging from 747 to 2990 trees/ha. A height response to vegetation control of 0.9 m at age 5 decreased to 0.3 m at age 15. Convergence in the cumulative height between treated and untreated stands did not translate into converging basal area and volume yield. For 1500 and 2200 trees/ha, volume response to early vegetation control increased to age 15. For 800 trees/ha volume gains increased to age 12 and were stable between ages 12 and 15. Higher densities apparently captured more of the site resources made available through vegetation control. Age-15 volume gains for 2200, 1500, and 800 trees/ha were 71 (23%), 48 (17%), and 19 m3·ha-1 (8%), respectively. A separate adjustment term in height and basal-area models captured the short-term positive effect of vegetation control on height growth and longer term basal-area responses. Previously published height and basal-area models were modified to account for planting-density effects.

Forest valuation under the generalized Faustmann formula

2014 ◽  
Vol 44 (1) ◽  
pp. 56-63 ◽  
Author(s):  
Sun Joseph Chang
Keyword(s):  
Interest Rate ◽  
Interest Rates ◽  
Approximation Method ◽  
Sensitivity Analyses ◽  
Land Value ◽  
Optimal Harvest ◽  
Standing Timber ◽  
Final Harvest ◽  
Faustmann Formula ◽  
Forest Valuation

This paper attempts to address the question of how the value of the forest, the land, and the standing timber should be determined under the generalized Faustmann formula when the beginning and ending value of the land may be different. First, the formulas to determine the value of the forest and the land under such a situation were derived. These formulas were then used to separate the value of the trees from that of the forest. A comparison of the correctly determined valuations of the land against those obtained through a frequently used approximation method showed that at interest rates commonly used, the approximation method overestimates the land value and underestimates the value of the standing timber. Sensitivity analyses showed that higher future land value tends to affect the value of the land less at the beginning of the rotation and more at the end. Its impact on the value of the standing timber may or may not be affected, depending on whether the optimal harvest age is affected or not. Higher final harvest value and higher interest rate affect both the value of the land and the value of the standing timber throughout the entire rotation. Lastly, higher regeneration at the beginning of the rotation simply re-allocates the forest value between that of the land and that of the standing timber, reducing the former while increasing the latter.

scholarly journals Financially Optimal Thinning and Final Harvest Schedules for Loblolly Pine Plantations on Nonindustrial Private Forestland in East Texas

2002 ◽  
Vol 26 (1) ◽  
pp. 13-17 ◽  
Author(s):  
Gary D. Kronrad ◽  
Ching-Hsun Huang
Keyword(s):  
Loblolly Pine ◽  
Basal Area ◽  
Site Index ◽  
Private Forest ◽  
Forest Landowners ◽  
Rotation Length ◽  
Pinus Taeda L ◽  
Private Forestland ◽  
Nonindustrial Private Forest ◽  
Final Harvest

Abstract A quantitative analysis of the profitability of managing loblolly pine (Pinus taeda L.) in relation to the length of rotation and the timing, frequency, and intensity of thinning(s) was conducted to determine financially optimal schedules for nonindustrial private forest landowners in Texas. The results indicate that as site index increases from 50 to 90, rotation length decreases from age 59 to 38; as real alternative rate of return (ARR) increases from 2.5 to 15.0%, rotation length decreases from age 38 to 21. The timing of first thinning varies from age 11 for landowners with a 15.0% ARR on site index 90 land to age 47 for landowners with a 2.5% ARR on site index 60 land. The frequency of thinning for optimal schedules is highly related to landowners' site index and ARR. Landowners with low and medium ARR on site index 90 land should conduct thinnings up to three times to maximize profits; landowners with low ARR on site index 50 or 60 land should conduct one thinning only. The intensity of thinning tends to increase (from 20 to 35% basal area removal) as landowners' ARR increases. South. J. Appl. For. 26(1):13–17.

Spacing rectangularity effect on the growth of loblolly pine plantations

2002 ◽  
Vol 32 (8) ◽  
pp. 1451-1459 ◽  
Author(s):  
Mahadev Sharma ◽  
Harold E Burkhart ◽  
Ralph L Amateis
Keyword(s):  
Pinus Taeda ◽  
Loblolly Pine ◽  
Basal Area ◽  
Planting Density ◽  
Stand Development ◽  
Crown Width ◽  
Pine Trees ◽  
Tree Data ◽  
Initial Spacing ◽  
Pinus Taeda L

The effect of spacing rectangularity on tree growth and stand development was evaluated using tree data obtained annually from a loblolly pine (Pinus taeda L.) spacing trial monitored through age 16 years. In this trial, plots with an initial planting density of 2240 trees/ha occur at slightly and highly rectangular spacings. Spacings with rectangularities 3:4 and 1:3 were used to evaluate the rectangularity effect. Survival and the development of height, diameter, volume per hectare, and basal area per hectare of loblolly pine trees were not affected by rectangularity. Diameter and height distributions were found to be a function of age but not a function of the rectangularity of initial spacing. Crown width, however, was affected by rectangularity. The crown width was larger at larger row or column distance than at smaller row or column distance, but the ratio of crown widths between and within rows was not equal to the rectangularity of the original planting spacing.

scholarly journals The Effect of Carbon Revenues on the Rotation and Profitability of Loblolly Pine Plantations in East Texas

2006 ◽  
Vol 30 (1) ◽  
pp. 21-29 ◽  
Author(s):  
Ching-Hsun Huang ◽  
Gary D. Kronrad
Keyword(s):  
Interest Rates ◽  
Pinus Taeda ◽  
Loblolly Pine ◽  
Timber Production ◽  
High Productivity ◽  
Rotation Length ◽  
Optimal Rotation ◽  
Low Interest Rates ◽  
Soil Expectation Value ◽  
Final Harvest

Abstract This study determined the profitability and financially optimal thinning and final harvest rotation of loblolly pine (Pinus taeda) managed exclusively for timber production or for dual products of timber production and carbon sequestration. The results suggest that 1) depending on landowner’s alternative rate of return, the inclusion of carbon revenues in forest management may shorten or prolong the optimal timber-carbon rotation length, compared to the optimal rotation that maximizes timber value only; 2) the effect of carbon revenues on the optimal rotation length and the percentage gain in soil expectation value is larger on low-productivity sites than on high-productivity sites, and is larger for high interest rates than for low interest rates; and 3) low-productivity, unprofitable sites may become profitable when carbon revenue is included and optimized together with the timber revenue.South. J. Appl. For.30(1):21–29.

Predicting survival and growth rates for individual loblolly pine trees from light capture estimates

2002 ◽  
Vol 32 (11) ◽  
pp. 1970-1983 ◽  
Author(s):  
David W MacFarlane ◽  
Edwin J Green ◽  
Andreas Brunner ◽  
Harold E Burkhart
Keyword(s):  
Loblolly Pine ◽  
Growth Rates ◽  
Survival Probability ◽  
Basal Area ◽  
Site Index ◽  
Planting Density ◽  
Growth And Survival ◽  
Survival And Growth ◽  
Light Capture ◽  
Stand Conditions

Light capture estimates from models can be related to survival and growth rates and may provide new ways to model forest dynamics. However, relationships between light capture, growth, and survival should vary widely with tree age, site conditions, and stand density, so predictions from light capture models need to be tested over a range of stand conditions. We used the tRAYci stand light model (A. Brunner. 1998. For. Ecol. Manage. 107: 19–46) to estimate weighted leaf area (WLA), an estimate of annual light capture, for every tree, in 36 even-aged loblolly pine (Pinus taeda L.) stands, representing different combinations of site index and planting density, over an 8-year period. We also developed regression equations relating light capture estimates to height growth, basal area growth, stem volume growth, and survival probability for individual trees at different ages, sites, and planting densities. Our results suggest a significant correlation between estimates of WLA and tree growth and survival rates, and that the tRAYci model is robust across a range of stand conditions. An important finding was that WLA was a better predictor of survival probability than measured basal area increment. Effects of site index, age, and planting density on light capture – growth relationships are also discussed.

Economic effects of monetary policy in Russia: What do large datasets tell us?

2020 ◽  
pp. 31-53 ◽  
Author(s):  
Anna A. Pestova ◽  
Natalia A. Rostova
Keyword(s):  
Monetary Policy ◽  
Interest Rate ◽  
Interest Rates ◽  
Economic Activity ◽  
Global Financial Crisis ◽  
Exchange Rate Regime ◽  
Aggregate Demand ◽  
Economic Effects ◽  
Theoretical Concepts ◽  
Empirical Estimates

Is the Bank of Russia able to control inflation and, at the same time, manage aggregate demand using its interest rate instruments? In other words, are empirical estimates of the effects of monetary policy in Russia consistent with the theoretical concepts and experience of advanced economies? This paper is aimed at addressing these issues. Unlike previous research, we employ “big data” — a large dataset of macroeconomic and financial data — to estimate the effects of monetary policy in Russia. We focus exclusively on the period after the 2008—2009 global financial crisis when the Bank of Russia announced the abandoning of its fixed ruble exchange rate regime and started to gradually transit to an interest rate management. Our estimation results do not confirm standard responses of key economic activity and price variables to tightening of monetary policy. Specifically, our estimates do not reveal a statistically significant restraining effect of the Bank of Russia’s policy of high interest rates on inflation in recent years. At the same time, we find a significant deteriorating effect of the monetary tightening on economic activity indicators: according to our conservative estimates, each of the key rate increases occurred in March and December 2014 had led to a decrease in the industrial production index by about 0.2 percentage points within a year.

DETERMINAN INFLASI DI INDONESIA PERIODE 1980-2015

2016 ◽  
Vol 21 (1) ◽  
pp. 1-7
Author(s):  
Risna Risna
Keyword(s):  
Interest Rate ◽  
Interest Rates ◽  
Money Supply ◽  
Government Spending ◽  
Positive Impact ◽  
Secondary Data ◽  
Quantitative Approach ◽  
State Spending ◽  
Factors Affecting ◽  
The Interest Rate

This study aims to determine the effect of government spending, the money supply, the interest rate of Bank Indonesia against inflation.This study uses secondary data. Secondary data were obtained directly from the Central Bureau of Statistics and Bank Indonesia. It can be said that there are factors affecting inflationas government spending, money supply, and interest rates BI. The reseach uses a quantitative approach to methods of e-views in the data. The results of analysis of three variables show that state spending significantand positive impact on inflationin Indonesia, the money supply significantand negative to inflationin Indonesia, BI rate a significantand positive impact on inflation in Indonesia

FAKTOR DETERMINAN PENYALURAN KREDIT BANK PERSERO

2018 ◽  
Vol 23 (1) ◽  
pp. 60-71
Author(s):  
Wigiyanti Masodah
Keyword(s):  
Interest Rate ◽  
Linear Regression ◽  
Interest Rates ◽  
Regression Models ◽  
Linear Regression Models ◽  
Negative Impacts ◽  
Main Activity ◽  
The Impact ◽  
The Given ◽  
Multiple Linear Regression Models

Offering credit is the main activity of a Bank. There are some considerations when a bank offers credit, that includes Interest Rates, Inflation, and NPL. This study aims to find out the impact of Variable Interest Rates, Inflation variables and NPL variables on credit disbursed. The object in this study is state-owned banks. The method of analysis in this study uses multiple linear regression models. The results of the study have shown that Interest Rates and NPL gave some negative impacts on the given credit. Meanwhile, Inflation variable does not have a significant effect on credit given. Keywords: Interest Rate, Inflation, NPL, offered Credit.

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