RT Journal Article
SR Electronic
T1 Toward a timber asset account for the United States
JF Land Economics
JO Land Econ
FD University of Wisconsin Press
SP 091425-0079R
DO 10.3368/le.103.1.091425-0079R
A1 Bruck, Sonia R.
A1 Mihiar, Christopher
A1 Mei, Bin
A1 Brandeis, Thomas
A1 Chambers, Matthew
A1 Hass, Julie L.
A1 Wentland, Scott
A1 Warziniack, Travis
YR 2026
UL http://le.uwpress.org/content/early/2026/07/16/le.103.1.091425-0079R.abstract
AB This paper develops a pilot timber asset account for the United States, demonstrating how a novel discount price method can value timber stocks in Georgia. While valuing merchantable timber is straightforward, an important methodological challenge is valuing trees that are not yet harvestable. Our approach values young stands by discounting their expected harvest price until they reach merchantable size. This method requires standard forest inventory data and market prices currently available in the U.S., making it promising candidate for scaling nationally. For southern yellow pine in Georgia, we estimate timber assets of $5.9 billion, with pre-merchantable timber contributing $257.7 million.