Harvesting Choices and Timber Supply among Landowners in the Southern United States

摘要

The recent rise of institutional timberland ownership has led to a significant change in the structure and conduct of the timber industry in the United States. In this study, we apply a two-period harvest model to assess the timber harvesting behavior of various landowners at the stand level by utilizing USDA Forest Service Forest Inventory and Analysis data for nine southern states. Forest industry and institutional timberland owners were found to be more likely to conduct partial and final harvests than nonindustrial private forest landowners. Aggregately, Timberland Investment Management Organizations were found to be most, and timberland Real Estate Investment Trusts to be least, price-responsive among ownership groups.