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A Model of Pulpwood Production and Trade in Wisconsin and the Lake States

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Abstract:

The annual econometric model developed employs two geographical subregions (Wisconsin and Michigan-Minnesota) and considers pulpwood consumption, harvest, price, inventory, and pulpwood movements between the subregions. Pulpwood demand is taken as the sum of current consumption requirements and inventory adjustments. Consumption is related to the level of pulp production. Inventory adjustment is related to consumption expectations and associated errors by an explicit adjustment process. Both consumption and inventory relations differed significantly between subregions. Supply relations were nearly unit price elastic but involved different measures of past market activity in the two subregions. Projections of regional pulpwood market activity to 1980 were developed. Variation of assumed growth in residue consumption had strong impacts on price and pulpwood harvest behavior in the model and on levels of forecasts. Trends in inventory behavior (decline in the desired inventory-consumption ratio) modestly influenced levels of projections and over long periods lead to reduced price and demand sensitivity to shifts in pulp production and residue consumption. Forest Sci. 21:301-312.

Keywords: Inventory; demand; prices

Document Type: Journal Article

Affiliations: Assistant Professor, School of Forestry, Oregon State Univ., Corvallis, OR 97331

Publication date: September 1, 1975

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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