ABSTRACT
Management of forest resources for purposes of timber production has important implications for forest land owners, for wood product manufacturers, and for the ultimate consumers of products made from wood fiber. More intensive timber management on the most productive sites can generate added income and can sustain or increase wood supplies. Forest economics and policy research that is focused on the economics of wood fiber production has progressed significantly. Forests are often managed for multiple uses, especially publicly owned forests and forests owned by non-industrial private interests. Even industrial forest lands are capable of producing non-timber outputs. Economic and financial analyses provide important information necessary to the resolution of forest management problems at several levels. Timber management and long-term supplies are affected by changes in demands for wood products and technological advances associated with forest management, timber harvesting, and wood product manufacturing.
