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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.
Maine Agricultural and Forest Experiment Station
Agricultural and Resource Economics
Lindahal, J.B., and A.J. Plantinga. 1997. Time-series analysis of Maine stumpage prices. Maine Agricultural and Forest Experiment Station Technical Bulletin 168.