%0 Research article
%T Timber production possibilities and capital yields from the Norwegian forest area
%A Hoen, Hans Fredrik
%A Eid, Tron
%A Økseter, Petter
%D 2001
%J Silva Fennica
%V 35
%N 3
%R doi:10.14214/sf.583
%U https://silvafennica.fi/article/583
%X How intensely should a forest be grown? This is a fundamental question  in the process of formulating policy guidelines for the management of a  forest area, both at the individual property level as well as at the  national level. The question is related to a number of factors; the  objective(s) of the forest owner, the productivity of the forestland,  the initial growing stock, the accessibility within the forest,  assumptions regarding future prices and costs and the required real rate  of return. This paper presents an applied analysis with the objective  of mapping possible future paths for the growing stock on, and timber  harvest from the productive forest area in Norway. The analysis is  deterministic. The regeneration strategy is a key factor for the long  run development of a forest and is thus given particular attention. The  analysis is restricted to deal with timber production only and  maximisation of the net present value of the forest area is used as the  objective function. The required real rate of return is varied and used  as the driving force to find the best (optimal) level of intensity in  silvicultural management and thus optimal paths for harvesting and  growing stocks.