000199240 001__ 199240
000199240 005__ 20180123000050.0
000199240 037__ $$a1334-2016-103888
000199240 041__ $$aen_US
000199240 245__ $$aTreating irregularities in carbon price and discount schedule: resolving a nightmare for forest economics?
000199240 260__ $$c2014-12-31
000199240 269__ $$a2014-12-31
000199240 300__ $$a11
000199240 336__ $$aJournal Article
000199240 490__ $$aScandinavian Forest Economics
000199240 490__ $$a45
000199240 520__ $$aClassical forest economics posits an optimal sequence of constant rotations. Projected variation
of discount rate changes optimal rotation through time, as does projected relative price change
for multiple products. These factors greatly increase the difficulty of calculating NPV of multirotation
forestry projects, for traditional timber production or for multiple purposes. If, however,
a given schedule of time-dated carbon prices is used, combined with set discount rates, a
spreadsheet solution is practical and feasible. A given sequence of rotation lengths can be
evaluated and compared with alternative sequences. Beyond when both discount rate and carbon
prices are projected to stabilise, classical formulas can be used for perpetual series of constant
rotations. Among the consequences of using government-mandated values are: very high value
for most commercial forest crops; very long optimal rotation; favour for no-thinning regimes.
Bizarre consequences include a negative carbon account for regimes which are carbon-neutral; a
positive or negative value of a regime, depending on start date; a crop’s being more valuable if
infected with a serious disease.
000199240 542__ $$fLicense granted by Anders Roos (anders.roos@slu.se) on 2015-03-05T07:41:10Z (GMT):

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000199240 650__ $$aEnvironmental Economics and Policy
000199240 650__ $$aFinancial Economics
000199240 650__ $$aResource /Energy Economics and Policy
000199240 6531_ $$airregular cash flows
000199240 6531_ $$acarbon price
000199240 6531_ $$adiscounting
000199240 6531_ $$atree disease
000199240 700__ $$aPrice, C.
000199240 700__ $$aWillis, R.
000199240 720__ $$aRoos,   A.$$eeditor
000199240 720__ $$aLönnstedt,   L.$$eeditor
000199240 720__ $$aNord,   T.$$eeditor
000199240 720__ $$aGong,   P.$$eeditor
000199240 720__ $$aStendahl,   M.$$eeditor
000199240 773__ $$dMay 22-24$$j2014$$o31$$q21$$tScandinavian Forest Economics: Proceedings of the Biennial Meeting of the Scandinavian Society of Forest Economics
000199240 773__ $$tScandinavian Forest Economics: Proceedings of the Biennial Meeting of the Scandinavian Society of Forest Economics
000199240 773__ $$kNumber 45
000199240 8564_ $$s348940$$uhttp://ageconsearch.umn.edu/record/199240/files/Price_%20C%20_%20Willis_%20R.pdf
000199240 887__ $$ahttp://purl.umn.edu/199240
000199240 909CO $$ooai:ageconsearch.umn.edu:199240$$pGLOBAL_SET
000199240 912__ $$nSubmitted by Anders Roos (anders.roos@slu.se) on 2015-03-05T07:45:31Z
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  Previous issue date: 2014-12-31
000199240 982__ $$gScandinavian Society of Forest Economics>Scandinavian Forest Economics: Proceedings of the Biennial Meeting of the Scandinavian Society of Forest Economics>2014, Number 45, May 21-24, 2014, Uppsala, Sweden
000199240 980__ $$a1334