Salo, Seppo; Tahvonen, Olli - In: American Journal of Agricultural Economics 86 (2004) 2, pp. 513-530
It is shown that if it is optimal to allocate all land to forestry, the long-run stationary state is a cyclical solution around an equilibrium with an even timber flow. The equilibrium cycles vanish when it is optimal to allocate some fraction of land outside forestry. We present numerical...
