IDEAS home Printed from https://ideas.repec.org/p/ags/eaae08/44376.html
   My bibliography  Save this paper

A Land Market Cycle in the Netherlands

Author

Listed:
  • Woltjer, Geert B.
  • Luijt, Jan L.
  • Jongeneel, Roelof A.

Abstract

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.

Suggested Citation

  • Woltjer, Geert B. & Luijt, Jan L. & Jongeneel, Roelof A., 2008. "A Land Market Cycle in the Netherlands," 2008 International Congress, August 26-29, 2008, Ghent, Belgium 44376, European Association of Agricultural Economists.
  • Handle: RePEc:ags:eaae08:44376
    as

    Download full text from publisher

    File URL: http://purl.umn.edu/44376
    Download Restriction: no

    References listed on IDEAS

    as
    1. 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.
    2. 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.
    3. 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.
    4. 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.
    5. 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.
    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, Foundation for the European Review of Agricultural Economics, vol. 34(2), pages 161-179, June.
    8. 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.
    9. Tom Engsted, 1998. "Do farmland prices reflect rationally expected future rents?," Applied Economics Letters, Taylor & Francis Journals, vol. 5(2), pages 75-79.
    10. 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)

    More about this item

    Keywords

    land market cycle; land prices; nature policy; Land Economics/Use;

    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:eaae08:44376. See general information about how to correct material in RePEc.

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

    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 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.

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

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.