haku: @author Koskela, E. / yhteensä: 22
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| Tekijä: | Alvarez, L.H.R. Koskela, E. |
| Otsikko: | Taxation and rotation age under stochastic forest stand value |
| Lehti: | Journal of Environmental Economics and Management
2007 : VOL. 54:1, p. 113-127 |
| Asiasana: | risk aversion taxation |
| Vapaa asiasana: | optimal rotation stochastic forest value |
| Kieli: | eng |
| Tiivistelmä: | The paper uses the single rotation as well as ongoing rotation framework to study the impact of yield tax, lump-sum tax and tax on interest rate earnings on the privately optimal rotation period when forest stand value is stochastic and forest owners are risk averse or risk neutral. The results indicate that the optimal harvesting threshold increases less rapidly under risk aversion that under risk neutrality with an increase in either a yield tax or the volatility of forest stand value. |
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