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Monthly wood supply behavior of associated forest owners in Austria—Insights from the analysis of a micro-econometric panel

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  • Koch, Sebastian P.
  • Schwarzbauer, Peter
  • Stern, Tobias

Abstract

This paper examines the wood supply from non-industrial private forest owners in Austria. The main novelty of this study is threefold. First, the underlying dataset is based on monthly wood supply. This enables an analysis of seasonal supply behavior, which is found to be different in relation to the size of the forestland. Second, it represents an original study with a dataset from a Central European country whose forest owners are apparently much more fragmented than their Scandinavian or North American counterparts. And third, the study introduces a windfall variable that effectively corrects for a market-relevant storm event. With respect to methodology, a random effects Tobit model is applied. Additionally, a Chamberlain-like term is included in the regression to deal with a possible bias generated through the correlation of regressors and unobserved heterogeneity.

Suggested Citation

  • Koch, Sebastian P. & Schwarzbauer, Peter & Stern, Tobias, 2013. "Monthly wood supply behavior of associated forest owners in Austria—Insights from the analysis of a micro-econometric panel," Journal of Forest Economics, Elsevier, vol. 19(3), pages 331-346.
    • Handle: RePEc:eee:foreco:v:19:y:2013:i:3:p:331-346
    DOI: 10.1016/j.jfe.2013.06.003
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    References listed on IDEAS

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    1. Schwarzbauer, Peter & Weinfurter, Stefan & Stern, Tobias & Koch, Sebastian, 2013. "Economic crises: Impacts on the forest-based sector and wood-based energy use in Austria," Forest Policy and Economics, Elsevier, vol. 27(C), pages 13-22.
    2. Beach, Robert H. & Pattanayak, Subhrendu K. & Yang, Jui-Chen & Murray, Brian C. & Abt, Robert C., 2005. "Econometric studies of non-industrial private forest management: a review and synthesis," Forest Policy and Economics, Elsevier, vol. 7(3), pages 261-281, March.
    3. Song, Nianfu & Chang, Sun Joseph & Aguilar, Francisco X., 2011. "U.S. softwood lumber demand and supply estimation using cointegration in dynamic equations," Journal of Forest Economics, Elsevier, vol. 17(1), pages 19-33, January.
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    6. Favada, Ibrahim M. & Kuuluvainen, Jari & Uusivuori, Jussi, 2007. "Optimal timber stock in Finnish nonindustrial private forests," Forest Policy and Economics, Elsevier, vol. 9(5), pages 527-535, January.
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    9. Størdal, Ståle & Lien, Gudbrand & Baardsen, Sjur, 2008. "Analyzing determinants of forest owners' decision-making using a sample selection framework," Journal of Forest Economics, Elsevier, vol. 14(3), pages 159-176, June.
    10. Rickenbach, Mark G. & Guries, Raymond P. & Schmoldt, Daniel L., 2006. "Membership matters: comparing members and non-members of NIPF owner organizations in southwest Wisconsin, USA," Forest Policy and Economics, Elsevier, vol. 8(1), pages 93-103, January.
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    14. Darius M. Adams & Richard W. Haynes & George F. Dutrow & Richard L. Barber & Joseph M. Vasievich, 1982. "Private Investment in Forest Management and the Long-Term Supply of Timber," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 64(2), pages 232-241.
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    Cited by:

    1. Górriz-Mifsud, Elena & Olza Donazar, Luis & Montero Eseverri, Eduardo & Marini Govigli, Valentino, 2019. "The challenges of coordinating forest owners for joint management," Forest Policy and Economics, Elsevier, vol. 99(C), pages 100-109.

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    More about this item

    Keywords

    Monthly wood supply; Seasonality; Forest owner association; Panel regression; Tobit model; Austria;
    All these keywords.

    JEL classification:

    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • C24 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Truncated and Censored Models; Switching Regression Models; Threshold Regression Models
    • Q23 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Forestry

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