The Impact of Natural Amenity on Farmland Values: A Quantile Regression Approach
AbstractThe objective of this study is to estimate the impact of natural amenity on farmland values in the contiguous United States using a quantile regression approach and data from the 2006, 2007, and 2008 Agricultural Resource Management Surveys. The contribution of this study is three-fold. First, we explicitly include variables representing natural amenity and soil characteristics of farmland. Second, we employ a quantile regression approach to examine potentially heterogeneous impacts of natural amenity and soil characteristics at different quantiles of farmland values. Third, we utilized data from a nationwide survey of farm household to examine findings in studies using regional data are consistent at a national scale. Our quantile regression analysis offers some insightful results. Natural amenity is positively correlated with farmland values and its impact is often more pronounced at a higher price range of farmland.
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Bibliographic InfoPaper provided by Southern Agricultural Economics Association in its series 2012 Annual Meeting, February 4-7, 2012, Birmingham, Alabama with number 119804.
Date of creation: 2012
Date of revision:
Farmland Values; Quantile Regression; Natural Amenity; Environmental Economics and Policy; Land Economics/Use; C14; Q15; Q24;
Find related papers by JEL classification:
- C14 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Semiparametric and Nonparametric Methods: General
- Q15 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Land Ownership and Tenure; Land Reform; Land Use; Irrigation; Agriculture and Environment
- Q24 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Land
This paper has been announced in the following NEP Reports:
- NEP-AGR-2012-02-08 (Agricultural Economics)
- NEP-ALL-2012-02-08 (All new papers)
- NEP-ENV-2012-02-08 (Environmental Economics)
- NEP-TUR-2012-02-08 (Tourism Economics)
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