Replication Data and Code for "Bioenergy Prices and Forest Product Allocation: Market Adjustment in a Joint-Production Forest Sector

This repository contains the replication data and R code accompanying the study “Bioenergy Prices and Forest Product Allocation: Market Adjustment in a Joint-Production Forest Sector.” The study examines the relationship between bioenergy prices and the allocation of harvested timber among sawtimber, pulpwood, and bioenergy in Sweden using annual data for 1995–2024. The empirical analysis employs a Seemingly Unrelated Regression (SUR) framework in which the sawtimber and pulpwood allocation-share equations are estimated jointly, while the bioenergy share and associated price effect are recovered using the adding-up constraint implied by joint production. The replication package contains the final estimation dataset (30 annual observations), a data dictionary, and R code for reproducing the main empirical analysis and robustness checks. These include the baseline SUR estimates, the implied bioenergy-share effect and confidence intervals, heteroskedasticity- and autocorrelation-consistent inference, an alternative storm-disturbance specification, exclusion of the major storm year 2005, leave-one-year-out sensitivity analysis, stationarity diagnostics, price-correlation and multicollinearity diagnostics, and residual diagnostics. The dataset was compiled and processed from Swedish statistical sources described in the associated manuscript. The estimates should be interpreted as conditional relationships between observed market prices and realized forest-product allocation rather than as structurally identified causal effects. This repository is provided to facilitate transparency, reproducibility, and further research on forest-product markets, forest bioenergy, and resource allocation.