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Analysis Of Government Farm Subsidies On Farmland Cash Rental Rates Using A Fixed Effect Spatial Distributed Lag Model And A Translog Cost Model

  • Lambert, Dayton M.
  • Griffin, Terry W.

The objective of this study is to examine how factors such as government payments, soil productivity ratings, commodity selling price, corn and soybean production, and spatial attributes affect cash rental rates. Baseline estimates of the effects of government payments on cash rents are determined using a fixed effect, distributed lag model. The results of this model are compared to a distributed lag model that incorporates spatial effects. A second model estimates the impact of government subsides on farm cost structure. This is accomplished estimating a fixed effect, translog cost function that also incorporates spatial effects. The data used in the analysis is the Illinois Farm Business Farm Management (FBFM) Economic Management Analysis (EMA), containing more than five thousand Illinois FBFM clients annually from 1996 to 2001.

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File URL: http://purl.umn.edu/19977
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Paper provided by American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association) in its series 2004 Annual meeting, August 1-4, Denver, CO with number 19977.

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Date of creation: 2004
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Handle: RePEc:ags:aaea04:19977
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  1. Badi H. Baltagi & Seuck Heun Song & Won Koh, 2002. "Testing Panel Data Regression Models with Spatial Error Correlation," 10th International Conference on Panel Data, Berlin, July 5-6, 2002 B6-4, International Conferences on Panel Data.
  2. Kelejian, Harry H. & Prucha, Ingmar R., 2004. "Estimation of simultaneous systems of spatially interrelated cross sectional equations," Journal of Econometrics, Elsevier, vol. 118(1-2), pages 27-50.
  3. Viliam Druska & William C. Horrace, 2004. "Generalized Moments Estimation for Spatial Panel Data: Indonesian Rice Farming," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 86(1), pages 185-198.
  4. Barry K. Goodwin & Ashok K. Mishra & Fran�ois N. Ortalo-Magné, 2003. "What's Wrong with Our Models of Agricultural Land Values?," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 85(3), pages 744-752.
  5. Holloway, Garth & Shankar, Bhavani & Rahman, Sanzidur, 2002. "Bayesian spatial probit estimation: a primer and an application to HYV rice adoption," Agricultural Economics of Agricultural Economists, International Association of Agricultural Economists, vol. 27(3), November.
  6. Lence, Sergio H. & Mishra, Ashok K., 2003. "The Impacts of Different Farm Programs on Cash Rents," Staff General Research Papers 11470, Iowa State University, Department of Economics.
  7. Ian W. Hardie & Tulika A. Narayan & Bruce L. Gardner, 2001. "The Joint Influence of Agricultural and Nonfarm Factors on Real Estate Values: An Application to the Mid-Atlantic Region," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 83(1), pages 120-132.
  8. Swinton, Scott M., 2002. "Capturing Household-Level Spatial Influence In Agricultural Management Using Random Effects Regression," Staff Papers 11516, Michigan State University, Department of Agricultural, Food, and Resource Economics.
  9. Barry, Peter J. & Escalante, Cesar L. & Moss, Leeann E., 2002. "Rental Premiums For Share Versus Cash Leases," 2002 Annual meeting, July 28-31, Long Beach, CA 19684, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  10. Lung-fei Lee, 2003. "Best Spatial Two-Stage Least Squares Estimators for a Spatial Autoregressive Model with Autoregressive Disturbances," Econometric Reviews, Taylor & Francis Journals, vol. 22(4), pages 307-335.
  11. Michael J. Roberts & Barrett Kirwan & Jeffrey Hopkins, 2003. "The Incidence of Government Program Payments on Agricultural Land Rents: The Challenges of Identification," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 85(3), pages 762-769.
  12. Alfons Weersink & Steve Clark & Calum G. Turvey & Rakhal Sarker, 1999. "The Effect of Agricultural Policy on Farmland Values," Land Economics, University of Wisconsin Press, vol. 75(3), pages 425-439.
  13. repec:dgr:rugsom:00c16 is not listed on IDEAS
  14. Munroe, Darla K. & Southworth, Jane & Tucker, Catherine M., 2002. "The dynamics of land-cover change in western Honduras: exploring spatial and temporal complexity," Agricultural Economics, Blackwell, vol. 27(3), pages 355-369, November.
  15. Pace, R. Kelley & Barry, Ronald & Gilley, Otis W. & Sirmans, C. F., 2000. "A method for spatial-temporal forecasting with an application to real estate prices," International Journal of Forecasting, Elsevier, vol. 16(2), pages 229-246.
  16. H. Holly Wang & Hao Zhang, 2003. "On the Possibility of a Private Crop Insurance Market: A Spatial Statistics Approach," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 70(1), pages 111-124.
  17. Swinton, Scott M., 2002. "Capturing household-level spatial influence in agricultural management using random effects regression," Agricultural Economics of Agricultural Economists, International Association of Agricultural Economists, vol. 27(3), November.
  18. Munroe, Darla K. & Southworth, Jane & Tucker, Catherine M., 2002. "The dynamics of land-cover change in western Honduras: exploring spatial and temporal complexity," Agricultural Economics of Agricultural Economists, International Association of Agricultural Economists, vol. 27(3), November.
  19. Calum G. Turvey, 2003. "Agricultural Land Values, Government Payments, and Production: Discussion," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 85(3), pages 772-773.
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