JFE 600
Michael Hoel, Bjart Holtsmark, och Katinka Holtsmark för deras artikel:
Faustmann and the Climate, Journal of Forest Economics 2014, 20(2): 192-210

Om artikeln (endast på engelska):
The authors present an adjusted Faustmann Rule for optimal harvest of a forest when there is a social cost of carbon emissions. The theoretical framework takes account of the dynamics and interactions of forests’ multiple carbon pools and assumes an infinite time horizon. This effort provides a theoretical foundation for numerical model studies that have found that a social cost of carbon should imply a longer optimal rotation periods and that if the social cost of carbon exceeds a certain threshold value the forest should not be harvested. The work establishes that the rotation age lengthens with increasing social costs of carbon, but the amount of timber used for building material shortens the rotation age, and, depending on the parameters, the use of bioenergy wood may shorten or lengthen the optimal rotation age. At the same time, there could be a net social benefit from harvesting even if the commercial profit from harvest is negative. If that is the case, the optimal harvest age is decreasing in the social cost of carbon.

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Priset delas ut vartannat år till minne av grundaren av Journal of Forest Economics (JFE), Sören Wibe. JFE är en vetenskaplig tidskrift som har sitt redaktionella säte i Umeå. Redaktörerna återfinns bland CERE:s personal, Runar Brännlund och Peichen Gong. Varje år utkommer fyra nummer och tidskriften är rankad som nummer 58 av 332 inom området ekonomi enligt Thomson Reuters Journal Citation Report 2013.