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An Econometric Model of Softwood Lumber and Stumpage Markets, 1947-1967

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An 8-equation econometric model of the markets for Douglas-fir and southern pine stumpage and lumber was estimated and then simulated over the 21-year sample period and 5 additional years to check its validity. The estimated short-run stumpage price elasticities of demand and supply suggest that a program of accelerated forest management on public lands in the Pacific Northwest could help the Nation achieve its housing goals if substantial volumes of timber are released annually to meet the anticipated increase in demand and to compensate for the declining cut on private lands. Forest Sci. 20:171-179.

Keywords: Price elasticities; Pseudotsuga menziesii; southern pine

Document Type: Journal Article

Affiliations: Economist, Southeast. Forest Exp. Stn., USDA Forest Serv., Athens, Ga

Publication date: June 1, 1974

More about this publication?
  • Forest Science is a peer-reviewed journal publishing fundamental and applied research that explores all aspects of natural and social sciences as they apply to the function and management of the forested ecosystems of the world. Topics include silviculture, forest management, biometrics, economics, entomology & pathology, fire & fuels management, forest ecology, genetics & tree improvement, geospatial technologies, harvesting & utilization, landscape ecology, operations research, forest policy, physiology, recreation, social sciences, soils & hydrology, and wildlife management.
    Forest Science is published bimonthly in February, April, June, August, October, and December.

    2015 Impact Factor: 1.702
    Ranking: 16 of 66 in forestry

    Also published by SAF:
    Journal of Forestry
    Other SAF Publications
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