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Windfalls and Consumption Under a Borrowing Constraint

✍ Scribed by Clark Wiseman

Book ID
125759536
Publisher
MIT Press
Year
1975
Tongue
English
Weight
206 KB
Volume
57
Category
Article
ISSN
0034-6535

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πŸ“œ SIMILAR VOLUMES

Optimal forest rotation and land values
Optimal forest rotation and land values under a borrowing constraint
✍ Olli Tahvonen; Seppo Salo; Jari Kuuluvainen πŸ“‚ Article πŸ“… 2001 πŸ› Elsevier Science 🌐 English βš– 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