The cyclical exploitation of renewable resource stocks may be optimal

Article Abstract:

A research effort reexamined C.W. Clark, F.H. Clarke, and G.R. Munro's optimal exploitation of renewable resources model to demonstrate the possible optimality of complex and cyclical strategies with technical modifications, such as the introduction of non-linear cost functions and the assumption that capital depreciation is sufficiently small. The positive externalities currently existent in the model should be included, suggesting that such as framework may be extended to environmental economics.

Models, Alternative energy sources, Renewable energy

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Expanding U.S. log export restrictions: impacts on state revenue and policy implications

Article Abstract:

A study found that a partial ban on exports of Washington logs from 1991 to 1992 did not reduce the state's revenues from timber. The findings were based on individual sales from Washington's timber lands and a hedonic regression to control for quality differences and output market factors. Results show that Washington has substantial control over the export market for high-quality timber. The discussion also involves the policy implications based on the results.

Laws, regulations and rules, Export controls

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Structural estimation of the stochastic dynamic decision problems of resource users:an application to the timber harvest decision

Article Abstract:

A procedure for the structural estimation of the stochastic dynamic decision problems of resource users is evaluated. Specific application is made to the timber industry.

Methods, Economic aspects, Stochastic analysis

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