Electronic Resource
Oxford, UK
:
Blackwell Publishing Ltd
Review of income and wealth
45 (1999), S. 0
ISSN:
1475-4991
Source:
Blackwell Publishing Journal Backfiles 1879-2005
Topics:
Economics
Notes:
National accounting issues related to forest resources have attracted much attention recently. The net-depletion method, the most popular method for estimating aggregate changes in the value of timber stocks, tends to overstate both the depreciation of mature forests due to harvests and the appreciation of immature forests due to growth. Alternative, correct methods, which I term the net-price and El Serafy variations, can be derived from an asset valuation model that takes forest age into account. An empirical example indicates that estimates from the net-depletion method can deviate from actual values by up to 40 percent for some age classes.
Type of Medium:
Electronic Resource
URL:
http://dx.doi.org/10.1111/j.1475-4991.1999.tb00331.x
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