Welfare Analysis of Long‐Term Forest Products Price Stabilization: Note

1978 ◽  
Vol 60 (4) ◽  
pp. 689-690 ◽  
Author(s):  
R. G. Cummings ◽  
R. N. Johnson
Keyword(s):  
Welfare Analysis ◽  
Forest Products ◽  
Price Stabilization

A Welfare Analysis of Long‐Term Forest Products Price Stabitization

1977 ◽  
Vol 59 (4) ◽  
pp. 662-673 ◽  
Author(s):  
Darius M. Adams ◽  
Richard W. Haynes ◽  
David R. Darr
Keyword(s):  
Welfare Analysis ◽  
Forest Products

Examination of moisture content variation within an operational wet deck

TAPPI Journal ◽  
2013 ◽  
Vol 12 (1) ◽  
pp. 45-50 ◽  
Author(s):  
LAURENCE SCHIMLECK ◽  
KIM LOVE-MYERS ◽  
JOE SANDERS ◽  
HEATH RAYBON ◽  
RICHARD DANIELS ◽  
...  
Keyword(s):  
Moisture Content ◽  
Southeastern United States ◽  
Forest Products ◽  
Time Domain Reflectometry ◽  
Water Application ◽  
Wood Moisture ◽  
International Paper ◽  
Content Variation ◽  
Moisture Variation

Many forest products companies in the southeastern United States store large volumes of roundwood under wet storage. Log quality depends on maintaining a high and constant wood moisture content; however, limited knowledge exists regarding moisture variation within individual logs, and within wet decks as a whole, making it impossible to recommend appropriate water application strategies. To better understand moisture variation within a wet deck, time domain reflectometry (TDR) was used to monitor the moisture variation of 30 southern pine logs over an 11-week period for a wet deck at the International Paper McBean woodyard. Three 125 mm long TDR probes were inserted into each log (before the deck was built) at 3, 4.5, and 7.5 m from the butt. The position of each log within the stack was also recorded. Mixed-effects analysis of variance (ANOVA) was used to examine moisture variation over the study period. Moisture content varied within the log, while position within the stack was generally not significant. The performance of the TDR probes was consistent throughout the study, indicating that they would be suitable for long term (e.g., 12 months) monitoring.

Price Stabilization in IPOs and Long-Term Stock Liquidity

2009 ◽  
Author(s):  
Antonio Gledson De Carvalho ◽  
Rodrigo Andrade Tolentino
Keyword(s):  
Price Stabilization ◽  
Stock Liquidity

scholarly journals Long-Term Timber Contracts in the Southeastern United States: Updating the Primer Valuation Framework

2020 ◽  
Vol 66 (6) ◽  
pp. 653-665
Author(s):  
Hector I Restrepo ◽  
Bin Mei ◽  
Bronson P Bullock
Keyword(s):  
United States ◽  
Interest Rates ◽  
Southeastern United States ◽  
Price Volatility ◽  
Forest Products ◽  
The United States ◽  
Raw Material ◽  
Conditional Volatility ◽  
Material Supply

Abstract Timberland ownership has drastically changed in the United States since the 1980s, driven by the divestitures of vertically integrated forest products companies. Having sold their timberland, forest products companies have exposed themselves more to the risk of raw material supply. To hedge against this risk, forest products companies usually use long-term timber contracts (LTTC). The objective of this article is to update the valuation framework for LTTCs proposed by Shaffer (1984) by including alternative option price models and refining the estimates of some key economic variables. In particular, conditional volatility from the generalized autoregressive conditional heteroscedasticity model and quasi-conditional volatility from rolling estimation windows, in addition to simple standard deviation, are used for the volatility estimates in the option pricing models. Contrary to the previous result by Shaffer (1984), our analysis suggests that LTTCs that were once profitable for forest products companies in the 1980s are no longer so under current market conditions. This is primarily because both timber price volatility and the risk-free interest rates have declined significantly. Thus, to be better off, forest products companies need to either lower the administration and management costs of those LTTCs or rely more on the open market for timber procurement. Study Implications: Forest products companies have traditionally relied on long-term timber contracts (LTTC) negotiated with forest landowners to mitigate the risk of raw material supply. The value of these LTTCs highly depends on the economic context. This research provides some insights into the valuation of LTTCs in the southeastern United States. Forest products companies can use this updated framework to aid their decisionmaking in timber procurement.

Effect of the energy crisis on the elasticities of demand for forest products in OECD countries

1986 ◽  
Vol 16 (5) ◽  
pp. 968-974 ◽  
Author(s):  
Joseph Buongiorno ◽  
Ham Shee Chang
Keyword(s):  
Gross Domestic Product ◽  
Forest Products ◽  
Energy Crisis ◽  
Domestic Product ◽  
Price Elasticities ◽  
Pooled Data ◽  
Demand Models ◽  
Oil Embargo ◽  
Income And Price Elasticities

The purpose of this paper was to test if there had been systematic changes in the income and price elasticities of demand for forest products after the first oil embargo of 1973. The test used pooled data from 10 OECD (Organization for Economic Cooperation and Development) countries between 1961 and 1981. Eight commodity groups were considered: coniferous sawn wood, nonconiferous sawn wood, plywood, particleboard, fibreboard, newsprint, other printing and writing paper, and other paper and paperboard. The demand models used were distributed lags on first logarithmic differences of income and price in each country and year. The hypothesis that the long-term elasticities of demand with respect to gross domestic product were the same from 1963 to 1981 as from 1974 to 1981 was rejected for coniferous sawn wood and printing and writing paper. Long-term price elasticities had also changed for the same commodities. A negative trend in the demand of coniferous sawn wood and particleboard, independent of prices or gross domestic product, appeared to have set in after 1973.

scholarly journals Long-Term Economic Simulation: Even-Aged and Uneven-Aged Examples from the Missouri Ozark Forest Ecosystem Project (MOFEP)

2005 ◽  
Vol 22 (1) ◽  
pp. 42-47 ◽  
Author(s):  
Thomas Treiman ◽  
John Dwyer ◽  
David Larsen
Keyword(s):  
Forest Ecosystem ◽  
Landscape Management ◽  
Forest Products ◽  
Forest Growth ◽  
Economic Outcomes ◽  
Long Term Effects ◽  
Short Term ◽  
Decision Matrix ◽  
Using Data

Abstract Much of the software and many of the algorithms commonly used to simulate forest growth and harvesting activities have been optimized for short-term projections based primarily on larger-sized trees and are focused on even-aged silvicultural systems. Using data on trees 1.5 in. dbh and larger from the Missouri Ozark Forest Ecosystem Project (MOFEP), we have adapted the widely available Landscape Management System (LMS) and Forest Vegetation Simulator (FVS) software to make long-term simulations using even and uneven-aged silvicultural management systems. MOFEP is designed to test the long-term effects of even-aged, uneven-aged, and no harvest treatments on a variety of ecosystem attributes. To simulate the economic outcomes of these three treatments, we have written new LMS algorithms that simulate the effects of uneven-aged harvesting. Our results show that in the Missouri Ozarks even-aged and uneven-aged management silvicultural systems yield long-term (100 years) economic outcomes that are not statistically different. This result reinforces the need for land managers or landowners to consider esthetics, nontraditional forest products, and other nonmarket values in their decision matrix. North. J. Appl. For. 22(1):42– 47.

A leasehold tenure system for publicly owned forest land

2010 ◽  
Vol 86 (5) ◽  
pp. 597-600
Author(s):  
Tony Rotherham
Keyword(s):  
Land Tenure ◽  
Forest Products ◽  
Contract Law ◽  
Land Ownership ◽  
Forest Products Industry ◽  
Forest Land ◽  
New Approach ◽  
The Past ◽  
Tenure System

The forest products industry is in a period of profound transition. Several provinces are reviewing forest land tenure systems. Perhaps a new approach can be tried, but we must not forget the lessons of the past 30 years during which the delivery of forest management has improved based on clear lines of responsibility and accountability. A leasehold tenure system based on contract law providing security of tenure and designed to accommodate both SFM Certification and Forest Carbon Projects might be worth consideration. Key words: forest land ownership, tenure, leasehold, long-term planning, forest crop planning

The place of forestry in the energy question

1979 ◽  
Vol 9 (1) ◽  
pp. 68-75 ◽  
Author(s):  
J. C. Nautiyal
Keyword(s):  
Energy Supply ◽  
Energy Production ◽  
Major Part ◽  
Forest Products ◽  
Developed Countries ◽  
Economic Problems ◽  
Energy Needs ◽  
Industrialized Nations ◽  
The World

Although forests supply a major part of the energy needs of the less developed countries in the world, the industrialized nations cannot look forward to very significant contributions from existing forests in this matter. Even if the economic problems of cost are ignored there is not enough wood left, even in a forest-rich country like Canada, to provide more than about 5% of the energy needs of the country after the requirements of the forest products industries have been met. Forests can, however, supplement other energy sources in certain situations. Energy farming seems to be the only way in which forestry can make a significant long-term contribution to energy supply, particularly if research in development of wood-fired generating plants and management of stands for energy production is pursued.

scholarly journals Marktwirtschaftliche Anreize für Naturschutz in tropischen und subtropischen Ländern

2013 ◽  
Vol 164 (3) ◽  
pp. 59-64
Author(s):  
Matthias Diemer ◽  
Sybille Borner
Keyword(s):  
Land Use ◽  
Land Use Changes ◽  
Forest Products ◽  
Illegal Logging ◽  
Economic Returns ◽  
Green Finance ◽  
The Tropics ◽  
Land Use Rights ◽  
Compensation Payments

Market-based incentives for conservation in tropical and subtropical forests Millions of hectares of forests are lost every year in the tropics and subtropics as a result of land use changes and illegal logging. To address this situation, a number of market-based approaches were developed. The rationale is that tropical forests can only be maintained in the long term if economic returns of sustainable activities are equivalent to unsustainable forest uses. This article describes mechanisms such as income generation from forest products, payments for ecosystem services, compensation payments as well as green finance products. An important prerequisite for the successful application of these market-based approaches are robust and legally binding land and land use rights.

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