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Notes: The Effect of Nontimber Taxes on the Harvest Timing--The Case of Private Nonindustrial Forest Owners: A Note

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The paper focuses on how lump sum, exogenous labor income and capital income taxes influence timber supply in a two-period model, when future timber price is uncertain. First, the usual comparative static results are derived. Second, the relative effects of taxes on the timber supply are studied, on the assumption that government keeps the tax revenue constant. It will be established that the entire taxation system, i.e., even nontimber taxes, affect timber supply. Moreover, the supply effects of government tax policy depend crucially on capital market conditions. Under perfect capital markets a switch from lump sum tax towards labor income tax has no effect on supply, and on the other hand, a tax switch toward capital income tax (increased interest payment deductability) decreases timber supply. Under credit rationing the sign of the former switch depends on the relative magnitudes of labor income during the first and second period, and the latter increases timber supply. For. Sci. 37(1):356-363.
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Keywords: Timber supply; capital market; risk-bearing; taxation system

Document Type: Miscellaneous

Affiliations: Department of Economics, University of Helsinki, Aleksanterinkatu 7, SF-00100 Helsinki, Finland

Publication date: 1991-03-01

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    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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    2016 Impact Factor: 1.782 (Rank 17/64 in forestry)

    Average time from submission to first decision: 62.5 days*
    June 1, 2016 to Feb. 28, 2017

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