A Land Market Cycle in the Netherlands
This paper develops a disequilibrium model of land prices in the Netherlands. It shows that the behaviour of traded quantities and prices of Dutch land have some resemblance with a disequilibrium land market model developed by Søgaard. An error correction model based on Søgaard’s model generates significant results with GDP and the real interest rate as explanatory variables, but regrettably farm income nor government demand for land generate significant results. If the model is correct, bubbles are characteristic for the Dutch land market, and this suggests that there is an opportunity for Dutch government to improve on the timing of buying land for nature policy.
|Date of creation:||2008|
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- 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, 06.
- Duke, Joshua M. & Awokuse, Titus O., 2004. "The Causal Structure Of Land Price Determinants," 2004 Annual meeting, August 1-4, Denver, CO 20324, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
- Charles B. Moss & Ani L. Katchova, 2005. "Farmland valuation and asset performance," Agricultural Finance Review, Emerald Group Publishing, vol. 65(2), pages 119-130, July.
- Sogaard, Villy, 1993. "The Land Market Cycle," European Review of Agricultural Economics, Foundation for the European Review of Agricultural Economics, vol. 20(1), pages 65-76.
- 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.
- MJ Roche & K McQuinn, 2001. "Testing for speculation in agricultural land in Ireland," European Review of Agricultural Economics, Foundation for the European Review of Agricultural Economics, vol. 28(2), pages 95-115, June.
- 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.
- Luciano Gutierrez & Joakim Westerlund & Kenneth Erickson, 2007. "Farmland prices, structural breaks and panel data," European Review of Agricultural Economics, Foundation for the European Review of Agricultural Economics, vol. 34(2), pages 161-179, June.
- 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.
- Tom Engsted, 1998. "Do farmland prices reflect rationally expected future rents?," Applied Economics Letters, Taylor & Francis Journals, vol. 5(2), pages 75-79.
- Maurice J. Roche & Kieran McQuinn, 2000. "Speculation in agricultural land," Economics, Finance and Accounting Department Working Paper Series n1010700, Department of Economics, Finance and Accounting, National University of Ireland - Maynooth. Full references (including those not matched with items on IDEAS)
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