Returns, Interest Rates, and Inflation: How They Explain Changes in Farmland Values
Weather in the Corn Belt and northern plains and the elimination of traditional commodity programs have refocused attention on farmland valuation. This study uses a statistical formulation of information provided by individual regressors to examine the sensitivity of farmland values to changes in inflation, returns on agricultural assets, and the cost of capital. The results indicate that inflation provides the most information on changes in farmland values; however, the regional results indicate that regions that tend to be more sensitive to changes in the return on agricultural assets also rely more heavily on government payments. Copyright 1997, Oxford University Press.
Volume (Year): 79 (1997)
Issue (Month): 4 ()
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