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Farm Programs And Land Values In Mountain States: Alternative Panel Estimators

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  • Shaik, Saleem

Abstract

Relative proportion of agricultural land values generated by farm program payments, farm returns, and non-farm activity in the mountain region and the U.S are estimated for the period 1939 to 2005. Results suggest the contribution of farm program payments to agricultural land values in the mountain region and the U.S. is quite similar and robust across the four alternative panel estimators for the period, 1939-2005. The contribution of the farm returns to value of land is lower in the mountain region compared to the U.S. The contribution of non-farm activity to the land values is higher for the U.S. compared to the mountain region. The relationship between farm program payments and farm returns are positive in mountain region and negative for U.S.

Suggested Citation

  • Shaik, Saleem, 2007. "Farm Programs And Land Values In Mountain States: Alternative Panel Estimators," 2007 Annual Meeting, July 29-August 1, 2007, Portland, Oregon 10256, Western Agricultural Economics Association.
  • Handle: RePEc:ags:waeapo:10256
    DOI: 10.22004/ag.econ.10256
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    File URL: http://ageconsearch.umn.edu/record/10256/files/sp07sh03.pdf
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    References listed on IDEAS

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    1. 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.
    2. Shaik, Saleem & Helmers, Glenn A. & Atwood, Joseph A., 2006. "Farm Programs And Agricultural Land Values: The Case Of Southern Agriculture," 2006 Annual Meeting, February 5-8, 2006, Orlando, Florida 35475, Southern Agricultural Economics Association.
    3. 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.
    4. Baltagi, Badi H., 1981. "Simultaneous equations with error components," Journal of Econometrics, Elsevier, vol. 17(2), pages 189-200, November.
    5. Barry K. Goodwin & Ashok K. Mishra & François 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.
    6. 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.
    7. Gardner, Bruce L., 2002. "U.S. Commodity Policies And Land Prices," Working Papers 28560, University of Maryland, Department of Agricultural and Resource Economics.
    8. Charles H. Barnard & Gerald Whittaker & David Westenbarger & Mary Ahearn, 1997. "Evidence of Capitalization of Direct Government Payments into U.S. Cropland Values," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 79(5), pages 1642-1650.
    9. 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.
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    Cited by:

    1. Feichtinger, Paul & Salhofer, Klaus, 2011. "The Valuation of Agricultural Land and the Influence of Government Payments," Working papers 119103, Factor Markets, Centre for European Policy Studies.
    2. 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).
    3. Shaik, Saleem & Atwood, Joseph A. & Helmers, Glenn A., 2012. "Did 1933 new deal legislation contribute to farm real estate values: A regional analysis," Journal of Policy Modeling, Elsevier, vol. 34(6), pages 801-816.

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