Farmland Ownership Policy: Technical Paper
AbstractIn this paper I develop a theoretical model to analyze policy that restricts who can own land. I briefly review research related to such policy in Saskatchewan, Canada, and identify a standard supply-demand model that I extend in several ways. First, I replicate results for how policy affects prices and develop new results for how policy affects social welfare using comparative statics. Second, I extend the model to a dynamic setting where demand curves change over time and show that policy can affect price changes in variety of ways, which I refer to as comparative dynamics. Third, I conduct a series of simulations to compare my model and a standard model. I establish stylistic facts about data on price levels, differences, and ratios generated by the different models.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 53185.
Date of creation: 25 Jan 2014
Date of revision:
Farmland; ownership; policy; demand and supply; comparative statics; comparative dynamics; simulation;
Find related papers by JEL classification:
- C00 - Mathematical and Quantitative Methods - - General - - - General
- D00 - Microeconomics - - General - - - General
- Q15 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Land Ownership and Tenure; Land Reform; Land Use; Irrigation; Agriculture and Environment
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- Carlberg, Jared G., 2002. "Effects Of Ownership Restrictions On Farmland Values In Saskatchewan," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 34(02), August.
- Bell, Peter N, 2014. "Farmland Ownership Restrictions: Between a Rock and a Hard Place," MPRA Paper 53033, University Library of Munich, Germany.
- Shon Ferguson & Hartley Furtan & Jared Carlberg, 2006. "The political economy of farmland ownership regulations and land prices," Agricultural Economics, International Association of Agricultural Economists, vol. 35(1), pages 59-65, 07.
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