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A Pooled Time-Series Cross-Section Analysis Of Land Prices

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  • Chavas, Jean-Paul
  • Shumway, C. Richard

Abstract

Based on a theoretical formulation of land price formation as an economic rent to a fixed input, a single equation econometric model is specified and estimated to explain land prices in five Iowa crop reporting districts. It identifies the influence of farm prices, inflationary pressures, and land quality on the price of land.

Suggested Citation

  • Chavas, Jean-Paul & Shumway, C. Richard, 1982. "A Pooled Time-Series Cross-Section Analysis Of Land Prices," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 7(1), pages 1-12, July.
    • Handle: RePEc:ags:wjagec:32424
    DOI: 10.22004/ag.econ.32424
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    References listed on IDEAS

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    1. Robert W. Herdt & Willard W. Cochrane, 1966. "Farm Land Prices and Farm Technological Advance," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 48(2), pages 243-263.
    2. Reinsel, Robert & Reinsel, Edward, 1979. "The Economics of Asset Values and Current Income in Farming," 1979 Annual Meeting, July 29-August 1, Pullman, Washington 278182, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    3. Luther G. Tweeten & James E. Martin, 1966. "A Methodology for Predicting U.S. Farm Real Estate Price Variation," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 48(2), pages 378-393.
    4. Emanuel Melichar, 1979. "Capital Gains versus Current Income in the Farming Sector," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 61(5), pages 1085-1092.
    5. Brake, John R. & Melichar, Emanuel, 1977. "Agricultural Finance and Capital Markets," A Survey of Agricultural Economics Literature, Volume 1: Traditional Fields of Agricultural Economics 1940s to 1970s,, Agricultural and Applied Economics Association.
    6. Bruce L. Gardner, 1979. "Determinants of Supply Elasticity in Interdependent Markets," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 61(3), pages 463-475.
    7. Robert D. Reinsel & Edward I. Reinsel, 1979. "The Economics of Asset Values and Current Income in Farming," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 61(5), pages 1093-1097.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Drescher, Klaus & Henderson, Jason R. & McNamara, Kevin T., 2001. "Farmland Price Determinants," 2001 Annual meeting, August 5-8, Chicago, IL 20685, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    2. Pope, C. Arden & Goodwin, H. L., 1983. "Determinants of Rural Land Values in Texas," Departmental Reports 257852, Texas A&M University, Department of Agricultural Economics.
    3. Fiske, John Robery, 1983. "The impact of financial constraints on the local price of farm land," ISU General Staff Papers 198301010800008710, Iowa State University, Department of Economics.
    4. Henderson, Jason R. & Moore, Sean, 2006. "The Capitalization of Wildlife Recreation Income into Farmland Values," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 38(3), pages 1-14, December.
    5. Jason Henderson & Sean Moore, 2005. "The impact of wildlife recreation on farmland values," Research Working Paper RWP 05-10, Federal Reserve Bank of Kansas City.
    6. Leistritz, F. Larry & Wiedrich, Garland D. & Vreugdenhil, Harvey G., 1985. "Effects Of Energy Development On Agricultural Land Values," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 10(2), pages 1-12, December.
    7. Todd Kuethe & Todd Hubbs & Mitch Morehart, 2014. "Farmland returns and economic conditions: a FAVAR approach," Empirical Economics, Springer, vol. 47(1), pages 129-142, August.
    8. Sala Rios, Mercé & Torres Solé, Teresa, 2007. "Factores No Agronómicos: Análisis De Su Influencia En Los Precios De La Tierra Agraria/Analysis on the infl uence of Non-agronomic-factors over the prices of agricultural land," Estudios de Economia Aplicada, Estudios de Economia Aplicada, vol. 25, pages 145-164, Abril.
    9. Shalit, Haim & Schmitz, Andrew, 1984. "Farmland Price Behavior And Credit Allocation," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 9(2), pages 1-11, December.
    10. Kang, Dong-Woo & Kim, Mi-young & Cho, Deok-ho & Lee, Seong-woo, 2010. "The Effects of Urban Development Pressure on Agricultural Land Price: Application of a Mixed GWR Model," Journal of Rural Development/Nongchon-Gyeongje, Korea Rural Economic Institute, vol. 33(4), pages 1-21, October.
    11. Johnson, James William, 1985. "Land prices: changes and variability: the effect on Iowa grain farms," ISU General Staff Papers 1985010108000017533, Iowa State University, Department of Economics.
    12. C. Arden Pope III & H. L. Goodwin, 1984. "Impacts of Consumptive Demand on Rural Land Values," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 66(5), pages 750-754.
    13. Henderson, Jason R. & Gloy, Brent A., 2008. "The Impact of Ethanol Plants on Cropland Values in the Great Plains," Working Papers 51080, Cornell University, Department of Applied Economics and Management.
    14. Henderson, Jason R. & Gloy, Brent A., 2008. "The Impact of Ethanol Plants on Land Values in the Great Plains," 2007 Agricultural and Rural Finance Markets in Transition, October 4-5, 2007, St. Louis, Missouri 48148, Regional Research Committee NC-1014: Agricultural and Rural Finance Markets in Transition.
    15. Brent A. Gloy & Jason Henderson, 2008. "The impact of ethanol plants on cropland values in the Great Plains," Regional Research Working Paper RRWP 08-01, Federal Reserve Bank of Kansas City.
    16. Drescher, Klaus & McNamara, Kevin T., 1999. "Determinants of German farmland prices," ERSA conference papers ersa99pa043, European Regional Science Association.

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    Keywords

    Land Economics/Use;

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