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Detecting bubbles via single time-series variable: applying spatial specification tests to farmland values

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  • Pinto, Allan
  • Griffin, Terry W.

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  • Pinto, Allan & Griffin, Terry W., 2022. "Detecting bubbles via single time-series variable: applying spatial specification tests to farmland values," 2024 Annual Meeting, July 28-30, New Orleans, LA 322534, Agricultural and Applied Economics Association.
    • Handle: RePEc:ags:aaea22:322534
    DOI: 10.22004/ag.econ.322534
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    References listed on IDEAS

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    1. Sergio H. Lence, 2014. "Farmland Prices: Is This Time Different?," Applied Economic Perspectives and Policy, Agricultural and Applied Economics Association, vol. 36(4), pages 577-603.
    2. Peter M. Robinson & Francesca Rossi, 2014. "Improved Lagrange multiplier tests in spatial autoregressions," Econometrics Journal, Royal Economic Society, vol. 17(1), pages 139-164, February.
    3. Bivand, Roger & Piras, Gianfranco, 2015. "Comparing Implementations of Estimation Methods for Spatial Econometrics," Journal of Statistical Software, Foundation for Open Access Statistics, vol. 63(i18).
    4. Delbecq, Benoit A. & Florax, Raymond J.G.M., 2010. "Farmland Allocation along the Rural-Urban Gradient: The Impacts of Urbanization and Urban Sprawl," 2010 Annual Meeting, July 25-27, 2010, Denver, Colorado 61723, Agricultural and Applied Economics Association.
    5. Gloy, Brent A. & Boehlje, Michael & Dobbins, Craig L. & Hurt, Christopher & Baker, Timothy G., 2011. "Are Economic Fundamentals Driving Farmland Values?," Choices: The Magazine of Food, Farm, and Resource Issues, Agricultural and Applied Economics Association, vol. 26(2), pages 1-6.
    6. Barry Falk & Bong-Soo Lee, 1998. "Fads versus Fundamentals in Farmland Prices," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 80(4), pages 696-707.
    7. Luciano Gutierrez & Joakim Westerlund & Kenneth Erickson, 2007. "Farmland prices, structural breaks and panel data," European Review of Agricultural Economics, Oxford University Press and the European Agricultural and Applied Economics Publications Foundation, vol. 34(2), pages 161-179, June.
    8. Kathleen P. Bell & Nancy E. Bockstael, 2000. "Applying the Generalized-Moments Estimation Approach to Spatial Problems Involving Microlevel Data," The Review of Economics and Statistics, MIT Press, vol. 82(1), pages 72-82, February.
    9. Roger S. Bivand & David W. S. Wong, 2018. "Comparing implementations of global and local indicators of spatial association," TEST: An Official Journal of the Spanish Society of Statistics and Operations Research, Springer;Sociedad de Estadística e Investigación Operativa, vol. 27(3), pages 716-748, September.
    10. Luc Anselin & Daniel A. Griffith, 1988. "Do Spatial Effecfs Really Matter In Regression Analysis?," Papers in Regional Science, Wiley Blackwell, vol. 65(1), pages 11-34, January.
    11. Burns, Christopher & Key, Nigel & Tulman, Sarah & Borchers, Allison & Weber, Jeremy, 2018. "Farmland Values, Land Ownership, and Returns to Farmland, 2000-2016," Economic Research Report 276249, United States Department of Agriculture, Economic Research Service.
    12. Barry Falk, 1991. "Formally Testing the Present Value Model of Farmland Prices," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 73(1), pages 1-10.
    13. Falk, Barry L. & Lee, Bong-Soo, 1998. "Fads Versus Fundamentals in Farmland Prices," Staff General Research Papers Archive 1306, Iowa State University, Department of Economics.
    14. Stiglitz, Joseph E, 1990. "Symposium on Bubbles," Journal of Economic Perspectives, American Economic Association, vol. 4(2), pages 13-18, Spring.
    15. Cotteleer, Geerte & Stobbe, Tracy & van Kooten, G. Cornelis, 2008. "A Spatial Bayesian Hedonic Pricing Model of Farmland Values," 2008 International Congress, August 26-29, 2008, Ghent, Belgium 44137, European Association of Agricultural Economists.
    16. Gutierrez, Luciano, 2011. "Looking for Rational Bubbles in Agricultural Commodity Markets," 2011 International Congress, August 30-September 2, 2011, Zurich, Switzerland 120377, European Association of Agricultural Economists.
    17. Brett Olsen & Jeffrey Stokes, 2015. "Is Farm Real Estate The Next Bubble?," The Journal of Real Estate Finance and Economics, Springer, vol. 50(3), pages 355-376, April.
    18. Anselin, Luc, 2002. "Under the hood : Issues in the specification and interpretation of spatial regression models," Agricultural Economics, Blackwell, vol. 27(3), pages 247-267, November.
    19. Allen M. Featherstone & Timothy G. Baker, 1987. "An Examination of Farm Sector Real Asset Dynamics: 1910–85," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 69(3), pages 532-546.
    20. Timothy G. Baker & Michael D. Boehlje & Michael R. Langemeier, 2014. "Farmland: Is It Currently Priced as an Attractive Investment?," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 96(5), pages 1321-1333.
    21. Anita Regmi, 1997. "Spatial, Productivity, and Environmental Determinants of Farmland Values," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 79(5), pages 1657-1664.
    22. Pope, Rulon D. & Kramer, Randall A. & Green, Richard D. & Gardner, B. Delworth, 1979. "An Evaluation Of Econometric Models Of U.S. Farmland Prices," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 4(01), pages 1-14, July.
    23. David Maddison, 2009. "A Spatio‐temporal Model of Farmland Values," Journal of Agricultural Economics, Wiley Blackwell, vol. 60(1), pages 171-189, February.
    24. Schilling, Brian J. & Sullivan, Kevin P. & Duke, Joshua M., 2013. "Do Residual Development Options Increase Preserved Farmland Values?," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 38(3), pages 1-17.
    25. Hanson, Steven D. & Myers, Robert J., 1995. "Testing for a time-varying risk premiumin the returns to U.S. farmland," Journal of Empirical Finance, Elsevier, vol. 2(3), pages 265-276, September.
    26. Tom Engsted, 1998. "Do farmland prices reflect rationally expected future rents?," Applied Economics Letters, Taylor & Francis Journals, vol. 5(2), pages 75-79.
    27. Schurle, Bryan & Featherstone, Allen & Wilson, Christine & Crossan, Dylan, . "Land Prices During Periods of Rapid Change," Journal of the ASFMRA, American Society of Farm Managers and Rural Appraisers, vol. 2013, pages 1-13.
    28. Falk, Barry L., 1991. "Formally Testing the Present Value Model of Farmland Prices," Staff General Research Papers Archive 11093, Iowa State University, Department of Economics.
    29. Lee, Lung-Fei, 2002. "Consistency And Efficiency Of Least Squares Estimation For Mixed Regressive, Spatial Autoregressive Models," Econometric Theory, Cambridge University Press, vol. 18(2), pages 252-277, April.
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