Computing the Socially Optimal Forest Stock for the Ivory Coast
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A two-sector dynamic model is used to determine the optimal steady-state forest stock for the Ivory Coast. The optimal stead-state forest stock is shown to be most sensitive to changes in the discount rate and the expected technoligcal change. When agricultural technology is assumed to be stagnant, the forest stock is not completely exhausted in the optimal steady-state situation. However, with continual technological change, eventually clearing all the forest lands is optimal.