Project on the Economics of Climate Adaptation and Forests
(ECAF)
College of Agricultural Sciences |
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Track #3: Ricardian analysis of the effects of
climate on the economic value of forestland |
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Principal
research question: How
does the current climate affect the economic value of forests, and how might climate
change alter the economic value of forestland? |
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Objective 1: Construct county-level
measures of average net returns to an acre of forestland, and use econometric
analysis to conduct a Ricardian analysis of how climate affects the value of
forest. |
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Estimates of current annual net returns to forestry by
county (2010$)
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-Construct county-level measures of net returns to
forestry. -Net returns estimates built from stumpage price data,
replanting cost estimates, and over 40,000 timber yield equations representing
tree-species-county groupings. -Net returns to private forests are highest in the
southeast and Pacific coastal regions |
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-Construct climatic measures specific to forestland in each
county. -Preliminary results suggest that net returns to private
forests are strongly increasing functions of i) average annual temperature,
ii) maximum annual temperature, and iii) annual precipitation. |
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Objective 2: Construct parcel-level measures
of the value of forestland for the State of Oregon, and use econometric
analysis to conduct a Ricardian analysis of how climate is capitalized into
land prices. This analysis uses real-market value and observed transactions
prices of forestland, and examines the price impact of disturbance risk and
the potential for aggregation bias when conducting Ricardian analysis with
aggregated forest returns data. |
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Coming
soon! |
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Research Papers Mihiar, C., and D.J.
Lewis. 2017. Climate, adaptation, and the value of forestland: A national
Ricardian analysis of the United States. Working Paper. (PDF version). |
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Sources of funding support |
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USDA Forest Service Pacific
Northwest Research Station
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USDA National Institute for
Food and Agriculture
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Last updated: 11/21/2017 |
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