An econometric analysis of softwood production in the U.S. South: a comparison of industrial and nonindustrial forest ownerships.

摘要

This paper examines determinants of softwood production in the U.S. South by comparing the forest industry (FI) and non-industrial private forests (NIPF). An econometric model is derived under the framework of profit maximization. A two-stage least squares (2SLS) technique with time series data from 1953 to 2002 is employed in this study. The estimated results show that supply price elasticities of 0.70 for sawtimber and 0.90 for pulpwood for FI owners are larger than those of 0.29 for sawtimber and 0.32 for pulpwood for NIPF owners, which, in general, are within the price elasticity range from previous studies.