The objective of this study was to explore methods to measure the effect of the choice of discount rates on the expected value and risk (measured with standard deviation) of the net present value (NPV) of financial returns, and on the expected value and risk of undiscounted ecological criteria...

Long-term effects of policies to induce carbon storage in forests were projected with the Global Forest Products Model. Offset payments for carbon sequestered in forest biomass of $15-$50/t CO₂e applied in all countries increased CO₂ sequestration in world forests by 5-14 billion tons from 2009 to...

An economic model of the global forest sector was used to estimate the carbon mitigating potential of the world's forests to 2065 for 180 countries assuming future socioeconomic trends that do not change markedly from historical patterns, consistent with the IPCC-SSP2. Forest carbon pools were...

The importance of international trade for the welfare of actors in the forest sector was estimated by comparing the current state of the world with a world in pure autarky with zero imports and exports of roundwood and manufactured wood products. The analysis was done with a comparative statics...

Markov decision process (MDP) models generalize Faustmann's formula by recognizing that future stand states, prices, and interest rates, are not known exactly. Buongiorno (Forest Science 47(4) 2001) presents a dynamic programming and a linear programming formulation of the MDP model with a fixed...

The study aimed to estimate wood and fibre utilization by product, and the corresponding input-output coefficients in countries where only the total input and output are known and where the production statistics are missing or wrong. The paper is a shorter version of one originally published in ...

The Global Forest Products Model (GFPM) was applied to project the consequences for the global forest sector of doubling the rate of growth of bioenergy demand relative to a base scenario, other drivers being maintained constant. The results showed that this would lead to the convergence of the...

The Global Forest Products Model (GFPM) was modified to link the forest sector to two scenarios of the Intergovernmental Panel on Climate Change (IPCC), and to represent the utilization of fuelwood and industrial roundwood to produce biofuels. The scenarios examined were a subset of the "story...

China's domestic demand and exports of wood products are rising rapidly compared to domestic supply. The determinants of timber supply in China were investigated with panel data from 25 provinces from 1999 to 2009. The results indicated that China's timber supply had responded to both market...