IDEAS home Printed from https://ideas.repec.org/p/unl/unlfep/wp497.html
   My bibliography  Save this paper

Continuous versus discrete time forest management models with carbon sequestration benefits

Author

Listed:
  • Clara Costa Duarte
  • Maria A. Cunha-e-Sa

Abstract

Forest literature uses both continous and discrete time models to study forest management problems, and when carbon sequestration benefits are considered, the results obtained in both approaches are not always equivalent. This issue is relevant from a policy point of view if credits are to be allocated to forest owners within the implementation of the Kyoto Protocol. This note explores the impact of different carbon sequestration accounting methods on both settings. It studies the specific conditions for optimal rotation period and the value of a marginal unit of bare land on a one stand model and compare them with the long run optimal stationary steady state of a forest vintage model.

Suggested Citation

  • Clara Costa Duarte & Maria A. Cunha-e-Sa, 2006. "Continuous versus discrete time forest management models with carbon sequestration benefits," Nova SBE Working Paper Series wp497, Universidade Nova de Lisboa, Nova School of Business and Economics.
    • Handle: RePEc:unl:unlfep:wp497
    as

    Download full text from publisher

    File URL: https://run.unl.pt/bitstream/10362/82952/1/WP497.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Salo, Seppo & Tahvonen, Olli, 2002. "On Equilibrium Cycles and Normal Forests in Optimal Harvesting of Tree Vintages," Journal of Environmental Economics and Management, Elsevier, vol. 44(1), pages 1-22, July.
    2. Clara Costa Duarte & Maria A. Cunha-e-Sa, 2006. "Forest vintages and carbon sequestration," Nova SBE Working Paper Series wp482, Universidade Nova de Lisboa, Nova School of Business and Economics.
    3. Salo, Seppo & Tahvonen, Olli, 2003. "On the economics of forest vintages," Journal of Economic Dynamics and Control, Elsevier, vol. 27(8), pages 1411-1435, June.
    4. G. Cornelis van Kooten & Clark S. Binkley & Gregg Delcourt, 1995. "Effect of Carbon Taxes and Subsidies on Optimal Forest Rotation Age and Supply of Carbon Services," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 77(2), pages 365-374.
    5. Seppo Salo & Olli Tahvonen, 2004. "Renewable Resources with Endogenous Age Classes and Allocation of Land," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 86(2), pages 513-530.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Lintunen, Jussi & Uusivuori, Jussi, 2014. "On The Economics of Forest Carbon: Renewable and Carbon Neutral But Not Emission Free," Climate Change and Sustainable Development 165755, Fondazione Eni Enrico Mattei (FEEM).
    2. Cunha-e-Sá, Maria A. & Rosa, Renato & Costa-Duarte, Clara, 2013. "Natural carbon capture and storage (NCCS): Forests, land use and carbon accounting," Resource and Energy Economics, Elsevier, vol. 35(2), pages 148-170.
    3. Clara Costa Duarte & Maria A. Cunha-e-Sa, 2006. "Forest vintages and carbon sequestration," Nova SBE Working Paper Series wp482, Universidade Nova de Lisboa, Nova School of Business and Economics.
    4. Kuusela, Olli-Pekka & Lintunen, Jussi, 2020. "Modeling market-level effects of disturbance risks in age structured forests," Forest Policy and Economics, Elsevier, vol. 118(C).
    5. Lintunen, Jussi & Uusivuori, Jussi, 2016. "On the economics of forests and climate change: Deriving optimal policies," Journal of Forest Economics, Elsevier, vol. 24(C), pages 130-156.
    6. Roberto Cominetti & Adriana Piazza, 2009. "Asymptotic Convergence of Optimal Policies for Resource Management with Application to Harvesting of Multiple Species Forest," Mathematics of Operations Research, INFORMS, vol. 34(3), pages 576-593, August.
    7. Ali Khan, M. & Piazza, Adriana, 2012. "On the Mitra–Wan forestry model: A unified analysis," Journal of Economic Theory, Elsevier, vol. 147(1), pages 230-260.
    8. Renato Rosa & Clara Costa Duarte & Maria A. Cunha-e-Sá, 2009. "The Role of Forests as Carbon Sinks: Land-Use and Carbon Accounting," Working Papers 2009.61, Fondazione Eni Enrico Mattei.
    9. Laukkanen, Matti & Tahvonen, Olli, 2023. "Wood product differentiation in age-structured forestry," Resource and Energy Economics, Elsevier, vol. 73(C).
    10. Tahvonen, Olli & Rautiainen, Aapo, 2017. "Economics of forest carbon storage and the additionality principle," Resource and Energy Economics, Elsevier, vol. 50(C), pages 124-134.
    11. Alejandro Caparrós & David Zilberman, 2010. "Optimal carbon sequestration path when different biological or physical sequestration," Working Papers 1018, Instituto de Políticas y Bienes Públicos (IPP), CSIC.
    12. Khan, M. Ali, 2016. "On a forest as a commodity and on commodification in the discipline of forestry," Forest Policy and Economics, Elsevier, vol. 72(C), pages 7-17.
    13. Gaspard Dumollard & Stéphane De Cara, 2018. "Land allocation between a multiple-stand forest and agriculture under storm risk and recursive preferences," Journal of Environmental Economics and Policy, Taylor & Francis Journals, vol. 7(3), pages 256-268, July.
    14. Piazza, Adriana & Roy, Santanu, 2015. "Deforestation and optimal management," Journal of Economic Dynamics and Control, Elsevier, vol. 53(C), pages 15-27.
    15. Tregeagle, Daniel & Simon, Leo K., 2018. "The Economics of Perennial Orchards with Endogenous Age Classes," 2018 Annual Meeting, August 5-7, Washington, D.C. 274336, Agricultural and Applied Economics Association.
    16. Coordes, Renke, 2016. "The emergence of forest age structures as determined by uneven-aged stands and age class forests," Journal of Forest Economics, Elsevier, vol. 25(C), pages 160-179.
    17. Moriguchi, Kai & Ueki, Tatsuhito & Saito, Masashi, 2020. "Establishing optimal forest harvesting regulation with continuous approximation," Operations Research Perspectives, Elsevier, vol. 7(C).
    18. Couture, Stéphane & Reynaud, Arnaud, 2011. "Forest management under fire risk when forest carbon sequestration has value," Ecological Economics, Elsevier, vol. 70(11), pages 2002-2011, September.
    19. Meilby, Henrik & Brazee, Richard J., 12. "Sustainibility and Long-term Dynamics of Forests: Methods and Metrics for Detection of Convergence and Stationarity," Scandinavian Forest Economics: Proceedings of the Biennial Meeting of the Scandinavian Society of Forest Economics, Scandinavian Society of Forest Economics, issue 40, May.
    20. Dumollard, Gaspard, 2018. "Multiple-stand forest management under fire risk: Analytical characterization of stationary rotation ages and optimal carbon sequestration policy," Journal of Forest Economics, Elsevier, vol. 32(C), pages 146-154.

    More about this item

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:unl:unlfep:wp497. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Susana Lopes (email available below). General contact details of provider: https://edirc.repec.org/data/feunlpt.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.