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Climate Change Impacts on Farmland Values in the Southeast United States

Author

Listed:
  • Frederick Quaye

    (Regions Bank, Birmingham, AL 35203, USA)

  • Denis Nadolnyak

    (Department of Agricultural Economics and Rural Sociology, Auburn University, Auburn, AL 36849, USA)

  • Valentina Hartarska

    (Department of Agricultural Economics and Rural Sociology, Auburn University, Auburn, AL 36849, USA)

Abstract

This study uses the Ricardian (hedonic) approach to estimate the impact of potential climate change on agricultural farmland values in the Southeast U.S. as a distinct agricultural region. Using the Agricultural Resource Management Survey and seasonal county-level climate and data, we find that regional farmland values increase with spring and fall temperatures and fall precipitation and decrease with winter and summer temperatures. Long-term climate change projections predict aggregate farmland value losses of 2.5–5% with differential state-level impacts, ranging from large losses in Florida to significant gains in Virginia. The results are consistent with recent research and can be helpful in policy design and forecasting land use change.

Suggested Citation

  • Frederick Quaye & Denis Nadolnyak & Valentina Hartarska, 2018. "Climate Change Impacts on Farmland Values in the Southeast United States," Sustainability, MDPI, vol. 10(10), pages 1-16, September.
    • Handle: RePEc:gam:jsusta:v:10:y:2018:i:10:p:3426-:d:172113
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    References listed on IDEAS

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    Cited by:

    1. Ryan Nedd & Aavudai Anandhi, 2022. "Land Use Changes in the Southeastern United States: Quantitative Changes, Drivers, and Expected Environmental Impacts," Land, MDPI, vol. 11(12), pages 1-25, December.

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