| 1. |
- Eriksson, Mathilda, et al.
(författare)
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Pricing forest carbon : implications of asymmetry in climate policy
- 2018
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Ingår i: Journal of Forest Economics. - : Elsevier. - 1104-6899 .- 1618-1530. ; 32, s. 84-93
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Tidskriftsartikel (refereegranskat)abstract
- Using an integrated assessment model, we examine the implications of climate policies that do not fully recognize forest carbon. Specifically, we first investigate the impact of an asymmetric policy that recognizes carbon emissions from fossil fuels while fully ignoring forest carbon. Next, we investigate the relative importance of not recognizing emissions from a reduction in the stock of forest biomass compared to not recognizing sequestration from the growth of forest biomass. We show that asymmetric carbon policies lead to lower levels of welfare, as well as higher emissions and carbon prices. This occurs because the forest resource will be allocated inefficiently under these carbon policies. Broadly, we find that when the social planner does not account for emissions or sequestration from the forest, the planner will set bioenergy levels that are too high and afforestation and avoided deforestation levels that are too low. Our results further reveal that not recognizing forest emissions leads to larger welfare losses than not recognizing sequestration.
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| 2. |
- Gelo, Dambala, et al.
(författare)
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Decentralization, market integration and efficiency-equity trade-offs : Evidence from Joint Forest Management in Ethiopian villages
- 2016
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Ingår i: Journal of Forest Economics. - : Now Publishers. - 1104-6899 .- 1618-1530. ; 22, s. 1-23
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Tidskriftsartikel (refereegranskat)abstract
- Extant literature on Joint Forest Management (JFM) impact evaluation has concluded that it generally does not provide sufficient incentives to justify the costs that forest use restrictions impose on local people. However, there is a dearth of evidence concerning whether alternative JFM intervention with improved market linkages for non-timber forest products has similar implications. In this study, we evaluated the income and distributive effects of a JFM program in Ethiopia in which additional support was provided for improved market linkages for non-timber forest products (NTFPs). Exploiting exogenous variation in customary rights across eligible groups of communities that participate in JFM programs, as well as using heteroskedasticity-based instrumentations, we identified the income and distributive effects of the program. Our analysis shows that the program has raised the income of the households who chose to participate by approximately 400 Ethiopian Birr or 26% of per capita expenditure; that result was robust to various specifications. We also found that this effect is largely driven by marketing incentives to use non-timber forest products. However, we found that the program's benefit is biased toward the upper end of the income distribution, a result that points to the inequality-reinforcing effects of the program.
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| 3. |
- Gong, Peichen, et al.
(författare)
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Could the Faustmann model have an interior minimum solution?
- 2016
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Ingår i: Journal of Forest Economics. - : Now Publishers. - 1104-6899 .- 1618-1530. ; 24, s. 123-129
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Tidskriftsartikel (refereegranskat)abstract
- The growth of an even-aged stand usually follows a S-shaped pattern, implying that the growth function is convex when stand age is low and concave when stand age is high. Given such a growth function, the Faustmann model could in theory have multiple optima and hence an interior local minimum solution. To ensure that the rotation age at which the first derivative of the land expectation value equals zero is a maximum, it is often assumed that the growth function is concave in stand age. Yet there is no convincing argument for excluding the possibility of conducting the final harvest before the growth function changes to concave. We argue that under normal circumstances the Faustmann model does not have any interior minimum. It is neither necessary nor proper to assume that the growth function is concave in the vicinity of the optimal rotation age. When the interest rate is high, the optimal rotation may lie in the interval on which the growth function is convex, i.e. before volume or value growth culminates.
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| 4. |
- Guo, Jinggang, et al.
(författare)
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Impacts of Increasing Bioenergy Production on Timber Harvest and Carbon Emissions
- 2019
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Ingår i: Journal of Forest Economics. - Boston – Delft : Now Publishers Inc.. - 1104-6899 .- 1618-1530. ; 34:3-4, s. 311-335
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Tidskriftsartikel (refereegranskat)abstract
- Using a partial equilibrium model of the Swedish forest sector, this study analyzes the impacts of an increasing bioenergy production on the timber harvest and forest growing stock. The impacts on the carbon balance of forests are also examined. The results suggest that, when compared with the base scenario, in which the current use pattern of forests continues, increased bioenergy production will lead to a 10–14 million m3 (Mm3) increase in the total harvest, depending on the extraction rate of forest residues. Increasing the use of forest residues will reduce the harvest and leave more room for accumulation of the forest stock in the early years, while the stock accumulation will be partially offset by the increased timber harvest in the long run. Increasing bioenergy production will have a negative impact on the carbon balance primarily due to a net loss of carbon stored in forests. Overall, the joint contribution of forest-based mitigation is significant, equivalent to or higher than 65% of the country’s annual GHG emissions. To achieve an ambitious bioenergy target in the long run, a fraction of pulpwood will be consumed as fuelwood that will inevitably intensify the competition between the two timber products, though increasing the use of forest residues could slightly reduce the competition in the short run.
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| 5. |
- Hultkrantz, Lars, 1952-, et al.
(författare)
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Hedging with trees : Tail-hedge discounting of long-term forestry returns
- 2018
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Ingår i: Journal of Forest Economics. - : Elsevier. - 1104-6899 .- 1618-1530. ; 30, s. 52-57
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Tidskriftsartikel (refereegranskat)abstract
- Tail-hedge discounting is based on decomposition of returns from long-term investments in a fraction (gamma) that is correlated with consumption and another that is not. The first part is discounted at a discount rate that includes a risk premium, the other with the risk-free rate. We estimate gamma for forestry on Swedish data for stumpage prices and GDP per capita 1909-2012. We demonstrate that the result considerably changes the expected present value of medium-term and long-term forest investments. (C) 2018 Department of Forest Economics, Swedish University of Agricultural Sciences, Umea. Published by Elsevier GmbH. All rights reserved.
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| 6. |
- Laitila, Thomas, 1960-, et al.
(författare)
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Valuation of fishing rights associated with Swedish real estate
- 2018
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Ingår i: Journal of Forest Economics. - : Elsevier. - 1104-6899 .- 1618-1530. ; 30, s. 25-31
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Tidskriftsartikel (refereegranskat)abstract
- In the economic literature on fisheries there is a long tradition of presenting the role of private property rights in efficient and sustainable fisheries management. We contribute to the literature by analyzing the market value of one of the world's most well defined fishing rights: the ownership of Swedish property where the fishing rights are an inseparable part of the real estate that can be traded in an open market. The fishing rights are primarily used for recreational fishing. For real estate that includes dwellings and vacation homes, the estimated value of these rights is about SEK 60,000 (about 6300), in 2016 prices. This corresponds to 4.5% of the average real estate value. However, the values are heterogeneous, and for real estate with agricultural and/or forestry land the value of the rights is less than SEK 10,000. This could be due to forest owners (as opposed to vacation home owners) primarily view the real estate as a means of generating economic returns, and the potential for this is low for fishing. The valuation of the right is expected to be a determinant of engagement in resource management and is thus important in the development of public policies for both the fish resource and recreational fisheries.
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| 7. |
- Munnich, Miriam, et al.
(författare)
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Is forest carbon sequestration at the expense of bioenergy and forest products cost-efficient in EU climate policy to 2050?
- 2016
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Ingår i: Journal of Forest Economics. - : Now Publishers. - 1104-6899 .- 1618-1530. ; 24, s. 82-105
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Tidskriftsartikel (refereegranskat)abstract
- Forest management affects the quantity of CO2 emissions in the atmosphere through carbon sequestration in standing biomass, carbon storage in forest products and production of bioenergy. The main question studied in this paper is whether forest carbon sequestration is worth increasing at the expense of bioenergy and forest products to achieve the EU emissions reduction target for 2050 in a cost-efficient manner. A dynamic cost minimisation model is used to find the optimal combination of carbon abatement strategies to meet annual emissions targets between 2010 and 2050. The results indicate that forest carbon sequestration is a low-cost abatement method. With sequestration, the net present costs of meeting EU carbon targets can be reduced by 23%.
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| 8. |
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| 9. |
- Elbakidze, Marine, et al.
(författare)
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Are bilateral conservation policies for the Bialowieza forest unattainable? Analysis of stated preferences of Polish and Belarusian public
- 2017
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Ingår i: Journal of Forest Economics. - : Now Publishers. - 1104-6899. ; 27, s. 70-79
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Tidskriftsartikel (refereegranskat)abstract
- Transboundary nature protected areas constitute a considerable proportion of all the existing spatial forms of biodiversity protection. One prominent example is the Bialowieza Forest, shared by Poland and Belarus. There is a considerable literature on allocation of funds to preserving nature shared by several countries. Some of this literature assess the funding schemes and the impacts on biodiversity within the EU. A particular challenge for the Bialowieza Forest is that the larger part of it is outside the EU border. There has been less research on the economic benefits that citizens attach to protected transboundary land nature on the other side of the border. We are trying to fill the gap by finding out and comparing preferences towards increased protection of domestic and foreign segments of the transboundary Bialowieza Forest, stated by samples of Polish and Belarusian citizens. The results of a discrete choice experiment show an almost unilateral preference for nature conservation, passive protection of forest land, on the domestic side. Whilst Polish respondents on average are willing to pay for an increased area under protection, on their side of the border, most Belarusians seem to be satisfied with the status quo. Taken at face value, there is even an apparent mutual disutility derived from the perspective of co-financing bilateral passive protection programmes in the Bialowieza Forest. By use of latent class analyses of responses, a group of the Polish sample willing to contribute to the transboundary conservation is identified and described, and compared against the non-cooperative groups on both sides of the border. The results can to some extent be explained by a strict border division with a high fence, by differences in welfare or by behavioural reasons. However, it cannot be ruled out that the affected populations simply do not perceive the Bialowieza Forest as a binational public good. (C) 2017 Department of Forest Economics, Swedish University of Agricultural Sciences, Umed. Published by Elsevier GmbH. All rights reserved.
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| 10. |
- Gong, Peichen, et al.
(författare)
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The potential and cost of increasing forest carbon sequestration in Sweden
- 2017
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Ingår i: Journal of Forest Economics. - : Now Publishers. - 1104-6899. ; 29, s. 78-86
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Tidskriftsartikel (refereegranskat)abstract
- This paper examines the potential and the cost of promoting forest carbon sequestration through a tax/subsidy to land owners for reducing/increasing carbon storage in their forests. We use a partial equilibrium model based on intertemporal optimization to estimate the impacts of carbon price (the tax/subsidy rate) on timber harvest volume and price in different time periods and on the change of forest carbon stock over time. The results show that a higher carbon price would lead to higher forest carbon stocks. The tax/subsidy induced annual net carbon sequestration is declining over time. The net carbon sequestration during 2015-2050 would increase by 30.2 to 218.3 million tonnes of CO2, when carbon price increases from 170 SEK to 1428 SEK per tonne of CO2. The associated cost, in terms of reduced total benefits of timber and other non-timber goods, ranges from 80 SEK to 105.8 SEK per tonne of CO2. The change in carbon sequestration (as compared with the baseline case) beyond 2050 is small when carbon price is 680 SEK per tonne of CO2 or lower. With a carbon price of 1428 SEK per tonne of CO2, carbon sequestration will increase by 70 million tonnes of CO2 from the baseline level during 2050-2070, and by 64 million tonnes during 2070-2170. (c) 2017 Department of Forest Economics, Swedish University of Agricultural Sciences, Umea. Published by Elsevier GmbH. All rights reserved.
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