Estimating Wood Consumption with Particular Reference to the Effects of Income and Wood Availability
Abstract:The general problem of estimating future national needs for wood is presented and the economic rationale for such estimates developed through discussion of several models. A consumption model is given, then quantified through regression by means of sawnwood consumption data from 53 nations. Cross-sectional analyses are also presented for Europe and Latin America, and for high and low income groups. Income, and an index of wood availability, are shown to be associated with a large part of the variance in industrial wood consumption. Elasticities of wood consumption with respect to both income and to wood availability are presented. Any assumption of constant elasticity of wood consumption with respect to income is shown to be at best dubious.
Document Type: Journal Article
Affiliations: Professor of Resource Economics, Dept. of Forestry, School of Natural Resources, The University of Michigan, Ann Arbor
Publication date: March 1, 1966
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