Economic Impacts of Projected White Oak (Quercus alba L.) Timber Supply in Kentucky: A CGE Model Analysis
Abstract
Demand for high-quality white oak sawlogs in Kentucky has been increasing for decades. Concurrently, Kentucky is witnessing ecological shifts in the historically white oak-dominated forests, mirroring the structural changes in oak forests in the eastern US. This demand–supply dissonance presents a growing concern among stakeholders on the sustainability of white oak and its associated economic implications. In this context, the objective of this study was to assess the potential economic impacts of the projected white oak timber supply following an overall increased supply of white oak sawlogs but reduced supply of high-quality white oak sawlogs in Kentucky. Results generated from a dynamic computable general equilibrium (CGE) model indicate a cumulative present-value GDP reduction of USD 3.66 billion, a USD 0.71 billion decline in consumer welfare, and other sectoral contractions over 40 years (2018–2058). These results can be used to advocate for more proactive forest management practices to stabilize a sustained supply of high-quality white oak timber in Kentucky and beyond.
Reference
Gaurav Dhungel; Thomas O. Ochuodho. (2024). Economic Impacts of Projected White Oak (Quercus alba L.) Timber Supply in Kentucky: A CGE Model Analysis. Forests. https://doi.org/10.3390/f15010093
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