Lence, Sergio H. - Department of Economics, Iowa State University - 2014
asset with an infinitely long life. It is found that high (low) farmland prices relative to rents have historically … precededextended periods of low (high) net rates of return, rather than greater (smaller) growth in rents. Our analysis shows that this … well. The long-run relationship linking farmland prices, rents, and rates of return is analyzed. Based on this relationship …