Financial analysis of rehabilitation cutting in degraded northern hardwoods.

摘要

Forests in the northeastern United States have become degraded by natural and anthropogenic forces. Despite the importance of the problem, little financial field research has been conducted. This study was initiated in 1970 as an evaluation of improvement cutting. Eight silvicultural interventions were applied using a combination of overstory removal to residual basal areas 0, 30, 60, 90 ft2/ acre and understory treatments with and without herbicide. Financial analyses were conducted using 2012 stand values and calculated 1970 harvest costs/revenues, compounded over a range of interest rates (2, 5, 8%). Over the 42-year study period, higher cutting intensity in 1970 was associated with higher net future value (NFV). Understory herbicide treatments showed no significant difference from untreated plots. Opportunity cost of keeping residuals is defined by the difference in NFV among varied levels of overstory.