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Description
The authors of this bulletin analyze price series for stumpage in Maine. For each available species and product group (sawlogs, pulpwood), they test for stationarity and fit autoregressive integrated moving average (ARIMA ) models to the data based on preliminary diagnostics. They then perform in-sample and out-of-sample price forecasts. The central objective or this work is to characterize the processes for Maine stumpage prices in order to identify opportunities for using reservation price policies to increase timber and land values. These results are of particular value to nonindustrial timber growers for use in scheduling harvests.
Document Type
Article
ISSN
1070-1524
Rights and Access Note
Rights assessment remains the responsibility of the researcher. No known restrictions on publication.
Volume
168
Publication Date
10-1-1997
Publisher
Maine Agricultural and Forest Experiment Station
City
Orono
Keywords
timber prices
Disciplines
Agricultural and Resource Economics
Recommended Citation
Lindahal, J.B., and A.J. Plantinga. 1997. Time-series analysis of Maine stumpage prices. Maine Agricultural and Forest Experiment Station Technical Bulletin 168.
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