Catastrophic shocks to existing stocks of a renewable resource can cause long-run price shifts. With timber, these long-run price shifts may be accompanied by a short-run price drop due to salvage. Hurricane Hugo damaged 20% of southern pine timber in the South Carolina Coastal Plain in 1989. To...

Wildfires in the United States result in total damages and costs that are likely to exceed billions of dollars annually. Land managers and policy makers propose higher rates of prescribed burning and other kinds of vegetation management to reduce amounts of wildfire and the risks of catastrophic...

We assess exchange rate pass–through (ERPT) for U.S. and Canadian prices for oriented strand board (OSB), a wood panel product used extensively in U.S. residential construction. Because of its prominence in construction and international trade, OSB markets are likely sensitive to general...

Replaced with revised version of paper 06/28/11.

Making input decisions under climate uncertainty often involves two-stage methods that use expensive and opaque transfer functions. This article describes an alternative, single-stage approach to such decisions using forecasting methods. The example shown is for preseason fire suppression...

We estimate a wildfire risk model with a new measure of wildfire output, intensity-weighted risk and use it in Monte Carlo simulations to estimate welfare changes from alternative prescribed burning policies. Using Volusia County, Florida as a case study, an annual prescribed burning rate of 13%...

Six Poisson autoregressive models of order p[PAR(p)] of daily wildland arson ignition counts are estimated for five locations in Florida (1994–2001). In addition, a fixed effects time-series Poisson model of annual arson counts is estimated for all Florida counties (1995–2001). PAR(p) model...