In this study, two different approaches for modeling the height-diameter relationship were analyzed. Data were obtained from 3,492 sample plots established in 105 operational pre-harvest inventories in the province of Arauco, VIII Region. Measures of precision and bias permitted to evaluate and compare equations within and between modeling approaches. Moreover, a comparative analysis to determine the effect of total tree height prediction in stand volume and multi-product calculation was also investigated. The 2-parameter local equations were more precise and stable in terms of convergence than 3-parameter equations. Measures of precision and bias showed that generalized equations performed better than local equations. Paired t tests (α = 0.05) detected significant differences in total and merchantable volume estimates when applying a local or generalized equation. Contrarily, two of the three log products showed no significant difference.