IDEAS home Printed from https://ideas.repec.org/p/ags/aaea22/322579.html
   My bibliography  Save this paper

The impact of countercyclical farm programs on agricultural land values

Author

Listed:
  • Callahan, Scott
  • Ifft, Jennifer
  • Michaud, Clayton P.

Abstract

No abstract is available for this item.

Suggested Citation

  • Callahan, Scott & Ifft, Jennifer & Michaud, Clayton P., 2022. "The impact of countercyclical farm programs on agricultural land values," 2024 Annual Meeting, July 28-30, New Orleans, LA 322579, Agricultural and Applied Economics Association.
  • Handle: RePEc:ags:aaea22:322579
    DOI: 10.22004/ag.econ.322579
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/322579/files/Callahan%20et%20al.%202022%20AAEA-workingpaper.pdf
    Download Restriction: no

    File URL: https://libkey.io/10.22004/ag.econ.322579?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Hubbard, R Glenn & Kashyap, Anil K, 1992. "Internal Net Worth and the Investment Process: An Application to U.S. Agriculture," Journal of Political Economy, University of Chicago Press, vol. 100(3), pages 506-534, June.
    2. Allison Borchers & Jennifer Ifft & Todd Kuethe, 2014. "Linking the Price of Agricultural Land to Use Values and Amenities," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 96(5), pages 1307-1320.
    3. Richard T. Melstrom, 2021. "The Effect of Land Use Restrictions Protecting Endangered Species on Agricultural Land Values," American Journal of Agricultural Economics, John Wiley & Sons, vol. 103(1), pages 162-184, January.
    4. Titus O. Awokuse & Joshua M. Duke, 2006. "The Causal Structure of Land Price Determinants," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 54(2), pages 227-245, June.
    5. Ifft, Jennifer & Bigelow, Daniel P. & Savage, Jeffrey, 2018. "The Impact of Irrigation Restrictions on Cropland Values in Nebraska," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 43(2), May.
    6. Richard E. Just & John A. Miranowski, 1993. "Understanding Farmland Price Changes," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 75(1), pages 156-168.
    7. Jeremy G. Weber & Nigel Key, 2014. "Do Wealth Gains from Land Appreciation Cause Farmers to Expand Acreage or Buy Land?," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 96(5), pages 1334-1348.
    8. Alston, Julian M. & James, Jennifer S., 2002. "The incidence of agricultural policy," Handbook of Agricultural Economics, in: B. L. Gardner & G. C. Rausser (ed.), Handbook of Agricultural Economics, edition 1, volume 2, chapter 33, pages 1689-1749, Elsevier.
    9. Allen M. Featherstone & Timothy G. Baker, 1988. "Effects of Reduced Price and Income Supports on Farmland Rent and Value," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 10(2), pages 177-189.
    10. Jennifer Ifft & Todd Kuethe & Mitch Morehart, 2015. "The impact of decoupled payments on U.S. cropland values," Agricultural Economics, International Association of Agricultural Economists, vol. 46(5), pages 643-652, September.
    11. Sergio H. Lence, 2001. "Farmland Prices in the Presence of Transaction Costs: A Cautionary Note," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 83(4), pages 985-992.
    12. Peter J. Barry & Ralph W. Bierlen & Narda L. Sotomayor, 2000. "Financial Structure of Farm Businesses under Imperfect Capital Markets," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 82(4), pages 920-933.
    13. Allen M. Featherstone & Charles B. Moss, 1994. "Measuring Economies of Scale and Scope in Agricultural Banking," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 76(3), pages 655-661.
    14. Peter J. Barry & Warren F. Lee, 1983. "Financial Stress in Agriculture: Implications for Agricultural Lenders," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 65(5), pages 945-952.
    15. Ifft, Jennifer & Wu, Shang & Kuethe, Todd, 2014. "The Impact of Pasture Insurance on Farmland Values," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 43(3), pages 1-16, December.
    16. Alan P. Ker & Barry K. Goodwin, 2000. "Nonparametric Estimation of Crop Insurance Rates Revisited," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 82(2), pages 463-478.
    17. Hendricks, Nathan P. & Janzen, Joseph P. & Dhuyvetter, Kevin C., 2012. "Subsidy Incidence and Inertia in Farmland Rental Markets: Estimates from a Dynamic Panel," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 37(3), pages 1-18.
    18. Barrett E. Kirwan, 2009. "The Incidence of U.S. Agricultural Subsidies on Farmland Rental Rates," Journal of Political Economy, University of Chicago Press, vol. 117(1), pages 138-164, February.
    19. Ahearn, Mary Clare & Collender, Robert N. & Diao, Xinshen & Harrington, David H. & Hoppe, Robert A. & Korb, Penelope J. & Makki, Shiva S. & Morehart, Mitchell J. & Roberts, Michael J. & Roe, Terry L. , 2004. "Decoupled Payments In A Changing Policy Setting," Agricultural Economic Reports 33981, United States Department of Agriculture, Economic Research Service.
    20. Sergio H. Lence & Ashok K. Mishra, 2003. "The Impacts of Different Farm Programs on Cash Rents," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 85(3), pages 753-761.
    21. Barry, Peter J. & Robison, Lindon J., 2001. "Agricultural finance: Credit, credit constraints, and consequences," Handbook of Agricultural Economics, in: B. L. Gardner & G. C. Rausser (ed.), Handbook of Agricultural Economics, edition 1, volume 1, chapter 10, pages 513-571, Elsevier.
    22. Joseph P. Janzen & Nathan P. Hendricks, 2020. "Are Farmers Made Whole by Trade Aid?," Applied Economic Perspectives and Policy, John Wiley & Sons, vol. 42(2), pages 205-226, June.
    23. Laure Latruffe & Chantal Le Mouël, 2009. "Capitalization Of Government Support In Agricultural Land Prices: What Do We Know?," Journal of Economic Surveys, Wiley Blackwell, vol. 23(4), pages 659-691, September.
    24. Charles B. Moss & Dong Hee Suh, 2020. "Effect of Compliance Cost on the Supply of Bank Credit to Agriculture: A Differential Approach," American Journal of Agricultural Economics, John Wiley & Sons, vol. 102(2), pages 713-726, March.
    25. Allen M. Featherstone & Mykel R. Taylor & Heather Gibson, 2017. "Forecasting Kansas land values using net farm income," Agricultural Finance Review, Emerald Group Publishing Limited, vol. 77(1), pages 137-152, May.
    26. Matthew Salois & Charles Moss & Kenneth Erickson, 2012. "Farm income, population and farmland prices: a relative information approach," European Review of Agricultural Economics, Oxford University Press and the European Agricultural and Applied Economics Publications Foundation, vol. 39(2), pages 289-307, April.
    27. John E. Floyd, 1965. "The Effects of Farm Price Supports on the Returns to Land and Labor in Agriculture," Journal of Political Economy, University of Chicago Press, vol. 73(2), pages 148-148.
    28. Ashok Mishra & Charles Moss & Kenneth Erickson, 2008. "The role of credit constraints and government subsidies in farmland valuations in the US: an options pricing model approach," Empirical Economics, Springer, vol. 34(2), pages 285-297, March.
    29. Charles B. Moss, 1997. "Returns, Interest Rates, and Inflation: How They Explain Changes in Farmland Values," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 79(4), pages 1311-1318.
    30. Allen M. Featherstone & Charles B. Moss & Timothy G. Baker & Paul V. Preckel, 1988. "The Theoretical Effects of Farm Policies on Optimal Leverage and the Probability of Equity Losses," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 70(3), pages 572-579.
    31. 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.
    32. Charles Towe & Constant I. Tra, 2013. "Vegetable Spirits and Energy Policy," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 95(1), pages 1-16.
    33. Ralph Bierlen & Allen M. Featherstone, 1998. "Fundamental q, Cash Flow, and Investment: Evidence from Farm Panel Data," The Review of Economics and Statistics, MIT Press, vol. 80(3), pages 427-435, August.
    34. Saleem Shaik & Glenn A. Helmers & Joseph A. Atwood, 2005. "The Evolution of Farm Programs and Their Contribution to Agricultural Land Values," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 87(5), pages 1190-1197.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Pavel Ciaian & Edoardo Baldoni & d'Artis Kancs & Dušan Drabik, 2021. "The Capitalization of Agricultural Subsidies into Land Prices," Annual Review of Resource Economics, Annual Reviews, vol. 13(1), pages 17-38, October.
    2. Baldoni, Edoardo & Ciaian, Pavel, 2023. "The capitalization of CAP subsidies into land prices in the EU," Land Use Policy, Elsevier, vol. 134(C).
    3. Chang, H.H., 2018. "Stigmatized versus Capitalization Effect on Farmland Prices - Application to the Agricultural Disaster Relief Program in Taiwan," 2018 Conference, July 28-August 2, 2018, Vancouver, British Columbia 276977, International Association of Agricultural Economists.
    4. Pavel Ciaian & d’Artis Kancs & Johan Swinnen, 2010. "EU Land Markets and the Common Agricultural Policy," Journal of Economics and Econometrics, Economics and Econometrics Society, vol. 53(3), pages 1-31.
    5. Feichtinger, Paul & Salhofer, Klaus, "undated". "The Valuation of Agricultural Land and the Influence of Government Payments," Working papers 119103, Factor Markets, Centre for European Policy Studies.
    6. Laure Latruffe & Chantal Le Mouël, 2009. "Capitalization Of Government Support In Agricultural Land Prices: What Do We Know?," Journal of Economic Surveys, Wiley Blackwell, vol. 23(4), pages 659-691, September.
    7. Stephen O'Neill & Kevin Hanrahan, 2016. "The capitalization of coupled and decoupled CAP payments into land rental rates," Agricultural Economics, International Association of Agricultural Economists, vol. 47(3), pages 285-294, May.
    8. Ay, Jean-Sauveur & Latruffe, Laure, "undated". "The Empirical Content of the Present Value Model: A survey of the instrumental uses of farmland prices," Working papers 157112, Factor Markets, Centre for European Policy Studies.
    9. repec:zbw:inwedp:652016 is not listed on IDEAS
    10. Tzong-Haw Lee & Hung-Hao Chang & Yi-Ting Hsieh & Bo-Yuan Chang, 2021. "Can Agricultural Disaster Relief Programs Affect Farmland Prices? Empirical Evidence from Farmland Transaction Data," Land, MDPI, vol. 10(7), pages 1-14, July.
    11. Ahearn, Mary Clare & Collender, Robert N. & Diao, Xinshen & Harrington, David H. & Hoppe, Robert A. & Korb, Penelope J. & Makki, Shiva S. & Morehart, Mitchell J. & Roberts, Michael J. & Roe, Terry L. , 2004. "Decoupled Payments In A Changing Policy Setting," Agricultural Economic Reports 33981, United States Department of Agriculture, Economic Research Service.
    12. Buchholz, Matthias & Danne, Michael & Musshoff, Oliver, 2022. "An experimental analysis of German farmers’ decisions to buy or rent farmland," Land Use Policy, Elsevier, vol. 120(C).
    13. Feichtinger, Paul & Salhofer, Klaus, 2013. "What Do We Know about the Influence of Agricultural Support on Agricultural Land Prices?," German Journal of Agricultural Economics, Humboldt-Universitaet zu Berlin, Department for Agricultural Economics, vol. 62(02), pages 1-15, May.
    14. Feichtinger, Paul & Salhofer, Klaus, 2013. "What Do We Know about the Influence of Agricultural Support on Agricultural Land Prices?," Journal of International Agricultural Trade and Development, Journal of International Agricultural Trade and Development, vol. 62(2).
    15. Paul Feichtinger & Klaus Salhofer, 2016. "Decoupled Single Farm Payments of the CAP and Land Rental Prices," Working Papers 652016, University of Natural Resources and Life Sciences, Vienna, Department of Economics and Social Sciences, Institute for Sustainable Economic Development.
    16. Pavel Ciaian & d’Artis Kancs, 2012. "The Capitalization of Area Payments into Farmland Rents: Micro Evidence from the New EU Member States," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 60(4), pages 517-540, December.
    17. Van Herck, Kristine & Vranken, Liesbet, "undated". "Direct Payments and Land Rents: Evidence from New Member States," Working papers 157121, Factor Markets, Centre for European Policy Studies.
    18. Hennig Solveigh & Breustedt Gunnar, 2018. "The Incidence of Agricultural Subsidies on Rental Rates for Grassland," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 238(2), pages 125-156, April.
    19. Ciaian, Pavel & Pokrivcak, Jan & Kancs, d'Artis, "undated". "Empirical Evidence of the Distributional Effects of the CAP in New EU Member States," Working papers 157117, Factor Markets, Centre for European Policy Studies.
    20. Lin, Wensheng & Huang, Jikun, 2021. "Impacts of agricultural incentive policies on land rental prices: New evidence from China," Food Policy, Elsevier, vol. 104(C).
    21. Albulena Basha & Wendong Zhang & Chad Hart, 2021. "The impacts of interest rate changes on US Midwest farmland values," Agricultural Finance Review, Emerald Group Publishing Limited, vol. 81(5), pages 746-766, February.

    More about this item

    Keywords

    ;
    ;
    ;

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:aaea22:322579. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: AgEcon Search (email available below). General contact details of provider: https://edirc.repec.org/data/aaeaaea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.