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Notes: The Impact of Site Value Taxation on the Optimal Time To Cut Timber when Borrowing and Lending Rates Diverge

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Abstract:

The economic literature on forest taxation concludes that the timber cutting time is independent of changes in a site value tax, assuming such changes are fully capitalized into the market value of land. Adopting a continuous-time theoretical model that incorporates an imperfect capital market, it is demonstrated why empirical evidence might reject this hypothesis of "fiscal neutrality." For. Sci. 33(3):763-766.

Keywords: Economics; harvesting; interest rates; taxes

Document Type: Miscellaneous

Affiliations: Associate Professor of Economics, School of Business and Engineering Administration, Michigan Technological University, Houghton, Michigan 49931

Publication date: September 1, 1987

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.
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