Journal of Forest Economics 19 (2013) 331–346 Contents lists available at ScienceDirect Journal of Forest Economics j ournal homepage: www.elsevier.com/locate/jfe Monthly wood supply behavior of associated forest owners in Austria—Insights from the analysis of a micro-econometric panel Sebastian P. Koch a,b,∗ , Peter Schwarzbauer a,b , Tobias Stern a a Kompetenzzentrum Holz GmbH, Wood K Plus – Market Analysis and Innovation Research, Vienna, Austria b University of Natural Resources and Life Sciences, Vienna, Austria a r t i c l e i n f o Article history: Received 9 January 2012 Accepted 18 June 2013 JEL classification: C23 C24 Q23 Keywords: Monthly wood supply Seasonality Forest owner association Panel regression Tobit model Austria a b s t r a c t This paper examines the wood supply from non-industrial pri- vate forest owners in Austria. The main novelty of this study is threefold. First, the underlying dataset is based on monthly wood supply. This enables an analysis of seasonal supply behavior, which is found to be different in relation to the size of the forestland. Second, it represents an original study with a dataset from a Cen- tral European country whose forest owners are apparently much more fragmented than their Scandinavian or North American coun- terparts. And third, the study introduces a windfall variable that effectively corrects for a market-relevant storm event. With respect to methodology, a random effects Tobit model is applied. Addition- ally, a Chamberlain-like term is included in the regression to deal with a possible bias generated through the correlation of regressors and unobserved heterogeneity. © 2013 Department of Forest Economics, Swedish University of Agricultural Sciences, Umeå. Published by Elsevier GmbH. All rights reserved. Introduction Almost 10 years ago the forest research community was confronted with a question as to whether there is anything left to study (Amacher et al., 2003) in the field of wood supply from non industrial forest landowners. And still, the answer is yes. Although their meta-study suggested several directions ∗ Corresponding author at: Feistmantelstrasse 4, 1180 Vienna, Austria. Tel.: +43 1 47654 3560; fax: +43 1 47654 3562. E-mail addresses: koch@boku.ac.at, koch@ihs.ac.at (S.P. Koch). 1104-6899/$ – see front matter © 2013 Department of Forest Economics, Swedish University of Agricultural Sciences, Umeå. Published by Elsevier GmbH. All rights reserved. http://dx.doi.org/10.1016/j.jfe.2013.06.003