Template-Type: ReDIF-Paper 1.0
Author-Name: Alex Olssen
Author-X-Name-First: Alex	
Author-X-Name-Last: Olssen
Author-Email: alex.olssen@gmail.com
Author-Workplace-Name: Motu Economic and Public Policy Research
Author-Name: Wei Zhang
Author-X-Name-First: Wei	
Author-X-Name-Last: Zhang
Author-Email: wei.zhang@maf.govt.nz
Author-Workplace-Name: Ministry of Agriculture and Forestry
Author-Name: David Evison
Author-X-Name-First: David	
Author-X-Name-Last: Evison
Author-Email: david.evison@canterbury.ac.nz
Author-Workplace-Name: New Zealand School of Forestry, University of Canterbury
Author-Name: Suzi Kerr
Author-X-Name-First: Suzi	
Author-X-Name-Last: Kerr
Author-Email: suzi.kerr@motu.org.nz
Author-Workplace-Name: Motu Economic and Public Policy Research
Title: A Forest-Profit Expectations Dataset for New Zealand, 1990–2008
Abstract:  In this paper, we construct a dataset of annual expected forest profits in New Zealand from 1990–2008 at a fine spatial resolution. We do not include land values in any of our profit calculations. We estimate four measures of expected forest profits based around net present value (NPV), land expectation value (LEV), equal annual equivalent (EAE), and internal rate of return (IRR). Our estimates of expected profits are based on the assumption that land owners form their expectations adaptively; that is, they use recent data on prices and costs to form expectations. We illustrate our data by showing regional variation in each of our measures, changes over time in NPV on land in forest in 2008, and variation in NPV over space in 2008. The final dataset, working datasets, and the code used in this work are publicly available to the research community and can be accessed from the authors’ website: https://www.motu.org.nz/building-capacity/dataset/u10073_forest_profit_expectations_dataset.
Length: 25 pages
Creation-Date:  2012-06
File-URL: https://motu-www.motu.org.nz/wpapers/12_07.pdf
Number: 12_07
Classification-JEL: Q5; Q15; Q23; Q24
Keywords: Forestry; expected profits; expected investment returns; New Zealand; dataset
Handle: RePEc:mtu:wpaper:12_07