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Taxation and rotation age under stochastic forest stand value

โœ Scribed by Luis H.R. Alvarez; Erkki Koskela


Book ID
116637250
Publisher
Elsevier Science
Year
2007
Tongue
English
Weight
255 KB
Volume
54
Category
Article
ISSN
0095-0696

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Optimal forest rotation and land values
โœ Olli Tahvonen; Seppo Salo; Jari Kuuluvainen ๐Ÿ“‚ Article ๐Ÿ“… 2001 ๐Ÿ› Elsevier Science ๐ŸŒ English โš– 356 KB

This study relaxes the assumption of perfect capital markets in the classical Faustmann forest rotation model. A constraint on borrowing changes all the basic properties of optimal forest harvesting. Instead of a constant rotation period, an in"nite chain of rotations is determined by a nonlinear di