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Optimal Forest Policies in an Overlapping Generations Economy with Timber Bequests

Author

Listed:
  • Amacher, G.S.
  • Koskela, E.
  • Ollikainen, M.

Abstract

This paper studies optimal forest policies in an overlapping generations forest economy with one-sided altruism and public goods, where timber and monetary bequests can be made across generations. We extend the existing economics literature by demonstrating that timber bequests can dominate money bequests in many situations, and that timber bequests may even by operative in dynamically inefficient steady states.

Suggested Citation

  • Amacher, G.S. & Koskela, E. & Ollikainen, M., 2000. "Optimal Forest Policies in an Overlapping Generations Economy with Timber Bequests," University of Helsinki, Department of Economics 478, Department of Economics.
    • Handle: RePEc:fth:helsec:478
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    More about this item

    Keywords

    GENERATIONS ; TAXATION ; ALTRUISM ; BEQUESTS ; FORESTS;
    All these keywords.

    JEL classification:

    • D64 - Microeconomics - - Welfare Economics - - - Altruism; Philanthropy; Intergenerational Transfers
    • Q23 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Forestry
    • H21 - Public Economics - - Taxation, Subsidies, and Revenue - - - Efficiency; Optimal Taxation
    • H23 - Public Economics - - Taxation, Subsidies, and Revenue - - - Externalities; Redistributive Effects; Environmental Taxes and Subsidies

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