A dynamic model of timber markets

R. Brazee, R. Mendelsohn

Research output: Contribution to journalArticlepeer-review


A theoretical model of the dynamics of timber markets is developed. The adjustment process over time which a competitive timber market should undergo as a result of unanticipated demand shifts is analyzed. The adjustment process is characterized by an initial price shock and then a relatively long period of gradually changing prices, harvest ages, and harvest levels. This adjustment leads to a new steady state characterized by a fully regulated forest managed with Faustmann rotations. -Authors

Original languageEnglish (US)
Pages (from-to)255-264
Number of pages10
JournalForest Science
Issue number2
StatePublished - 1990
Externally publishedYes

ASJC Scopus subject areas

  • Forestry
  • Ecology
  • Ecological Modeling


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