Forest products have remained an important part of southern rural economies in the United States. As one of the major raw materials, stumpage has been a key component of production cost in the forest products industry, and therefore its price has been of great concern. Since the late 1970’s stumpage prices in the U.S. South have been changing considerably over time. This study uses analysis of ...

methods for estimating the means and covariances of stumpage prices and incorporating _._ th m in harvest scheduling models. We approached the esti ation problem by fitting timeseries models to loblolly pine sawtimber and pulpwood stumpage prices in Georgia, USA, _= and deriving formulas for means and covariances of price predictions. Statistical evidence _ supported integrated autoregressive m...

Timber stumpage prices exhibit considerable volatility, which has a tremendous effect on the long-term returns associated with growing timber. Predicting trends in the market occupies a great deal of effort in forest economics research and practice. But what are the possible gains from having the ability to predict the future of timber stumpage markets? On the stand-level, forward-recursive dyn...

The potential for structural change in southern stumpage market models has impacts on not only our basic understanding of those markets, but also on harvest, inventory and price projections, and related policy. In this paper, we test for structural change in both sawtimber and pulpwood softwood stumpage markets in the U.S. South over the period 19501994. Test results strongly reject structural ...

The theory of demand and supply implies a positive relationship, or ‘‘price transmission’’ between the prices of products at different stages of manufacturing. This relationship was investigated with quarterly prices of softwood stumpage in the US South, and national prices of forest products, from 1977 to 2002. All prices, net of inflation, were found to be nonstationary and there was no evide...

The optimal harvesting policy is calculated as a function of the entering stock, the price state, the harvesting cost, and the rate of interest in the capital market. In order to determine the optimal harvest schedule, the growth function and stumpage price process are estimated for the Swedish mixed species forests. The stumpage price is assumed to follow a stochastic Markov process. A stochas...

The aim of this study was to determine the optimal cutting cycle in an uneven-aged beech forest in the North of Iran. First of all, a logistic growth model was determined for an uneven aged forest. Then, the stumpage price was predicted via an autoregressive model. The average stumpage price of beech was derived from actual timber, round wood, fire and pulpwood prices at road side minus the var...

provided some of the stumpage price time series. Jean-Thomas Bernard is gratefully acknowledged for helpful comments on various versions of this paper. All remaining errors are, of course, our responsibility.

  The optimal harvesting policy is calculated as a function of the entering stock, the price state, the harvesting cost, and the rate of interest in the capital market. In order to determine the optimal harvest schedule, the growth function and stumpage price process are estimated for the Swedish mixed species forests. The stumpage price is assumed to follow a stochastic Markov process. A stoch...

the aim of this study was to determine the optimal cutting cycle in an uneven-aged beech forest in the north of iran. first of all, a logistic growth model was determined for an uneven aged forest. then, the stumpage price was predicted via an autoregressive model. the average stumpage price of beech was derived from actual timber, round wood, fire and pulpwood prices at road side minus the var...