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Please use this identifier to cite or link to this item: http://purl.umn.edu/32386

Title: TECHNOLOGICAL ADAPTATION TO RESOURCE SCARCITY IN THE U.S. LUMBER INDUSTRY
Authors: Stier, Jeffrey C.
Issue Date: 1980-12
Abstract: This paper provides an econometric investigation of the role of a renewable natural resource, sawlogs, in the production of lumber over the period 1950-1974. The economic scarcity of sawlogs is confirmed. Within a given production technology, the potential for substitution among capital, labor and sawlog inputs is greatly restricted but not impossible. Technological change has been strongly labor-saving but has had a negligible effect on wood requirements. Consequently, the real price of lumber has risen, stimulating development of substitute wood products. Continued decline of the industry is anticipated.
URI: http://purl.umn.edu/32386
Institution/Association: Western Journal of Agricultural Economics>Volume 05, Number 02, December 1980
Total Pages: 12
Language: English
From Page: 165
To Page: 176
Collections:Volume 05, Number 02, December 1980

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