First Published in 2011. This is the sixth volume in the Forests, Lands, and Recreation set of ten volumes. This text is one of many on the topic of timber supply, a perpetually central issue in forest economics and policy. But it is also something else: It is an attempt to examine the economic efficiency of investments in timber production. Special attention is directed to the increasingly important issue of investments in forestland, particularly public forestland, where allocation of land between timber production and other forest uses is an issue of national policy importance.

First Published in 2011. This is the sixth volume in the Forests, Lands, and Recreation set of ten volumes. This text is one of many on the topic of timber supply, a perpetually central issue in forest economics and policy. But it is also something else: It is an attempt to examine the economic efficiency of investments in timber production. Special attention is directed to the increasingly important issue of investments in forestland, particularly public forestland, where allocation of land between timber production and other forest uses is an issue of national policy importance.

Current law requires the federal government to fulfill a broad spectrum of responsibilities in managing public lands; to protect and conserve the environment; to foster the appropriate development of marketable commodities; to preserve wilderness areas, wildlife habitats, and unique historical sites; and to encourage public participation in land-use and management decisions. There is no consensus, however, on the best ways to establish a balance among the? priorities when serious conflicts arise. This book presents a wide-ranging discussion of the means by which lands and resources administered by the Forest Service and the Bureau of Land Management can better serve present and future needs for environmental preservation and resource development. The contributors consider public and private interests in the federal lands in light of political realities and uncertainties, giving particular: attention to efficiency-versus-equity issues, privatization fair market value, and the income-producing potential of publicly owned assets. Major sections of the book focus on timber, nonfuel minerals, rangelands, and energy resources. Based on a recent conference sponsored by The Wilderness Society, the book reflects the views of conservationists, scholars, industry representatives, and state and federal officials.

This title was first published in 2003. The 'Economics of Forestry' is a specialized subset of resource economics addressing a specific natural resource - the forest - which is usually a relatively long time period. Hence, forest economics has characteristics similar to nonrenewable resources but also has those of a renewable resource, in some cases approaching those of agriculture. This volume comprises some of the most significant journal essays in forest economics and forest policy. The International Library of Environmental Economics and Policy explores the influence of economics on the development of environmental and natural resource policy. In a series of twenty five volumes, the most significant journal essays in key areas of contemporary environmental and resource policy are collected. Scholars who are recognized for their expertise and contribution to the literature in the various research areas serve as volume editors and write essays that provides the context for the collection. Volumes in the series reflect three broad strands of economic research including 1) Natural and Environmental Resources, 2) Policy Instruments and Institutions and 3) Methodology. The editors, in their introduction to each volume, provide a state-of-the-art overview of the topic and explain the influence and relevance of the collected papers on the development of policy. This reference series provides access to the economic literature that has shaped contemporary perspectives on land use analysis and policy.

Concluding chapters review the roles of the newer institutional landowners, of smaller private and farm landowners, and of public agencies.

Projecting modest future growth for both prices and harvest levels, this study, first published in 1990, provides theoretical and empirical justification for challenging the conventional wisdom that real timber prices will rise for the indefinite future. The study presents fifty-year projections of regional and world harvest levels, world market price, and investments in forest regeneration by region. This book will be of particular interest to students of economics and environmental studies.

A text for students with a background in calculus and intermediate microeconomics and a familiarity with the spreadsheet software Excel.