This paper examines how differences in climate across space influence the value of New Zealandagricultural land. We use the Ricardian approach to price the climate, using property valuationdata from 1993 to 2018. We apply the ‘spatial first differences’ method, which comparesdifferences in...

We estimate the impact of the tariffs that U.S. export crops face on farmland rental rates. The estimation of the impact of the localized measure on the rents faces two aggregation problems that lead to identification challenges: a) aggregating tariffs across trading partners to obtain...

Analytic models are developed to value farm real estate and a seller’s (buyer’s) real option to delay its sale (purchase). The model clearly shows the economic and financial fundamentals making up the capitalization rate for farmland, as well as the linkage between two asset classes: farm...

Over the past four decades, Zimbabwe redistributed vast quantities of arable land to the landless, women and poor communal farmers to reduce inequality. Yet poverty and gender disparity in land ownership have continued to be discernible. It is against this background that this article explores...

We study how distributional preferences are affected by a major property rights reform that transformed informal use-rights over land traditionally characterizing rural Beninese villages in a system akin to private ownership. The design combines the randomized control-trial implementation of the...

Land and capital serve not only as factors of production but as assets which households use as stores of value. Standard trade models typically recognize only the first role. In its role as an asset land reduces the amount of national savings available for capital investment. Foreign investment...

Real Estate Exchange as to widen the scope of market, facilitate easy trading to avoid wide fluctuations in the market. The exchange would also enable price discovery through efficient allocation and distribution of resources. Real Estate exchange is the need of the hour. It would widen the...

We study the capitalisation of subsidies in the European Union (EU) regions in the years 2006-2008, the first years after the introduction of the Common Agricultural Policy (CAP) 2003 reform that decoupled subsidies from production and attached them to land. For this purpose, we use regional...

Giving empirical application to spatial econometrics models is the main fall in the economic theory approach. Controlling for spatial correlation and dependence is becoming an important part in farmland valuation literature. Farmland is the most basic resources for agricultural production. Price...

The aim of this paper is to explain the impact of the establishment of the system of landownership on the income distribution and economic growth of settler economies (Argentina, Australia, New Zealand and Uruguay) during the First Globalization. We consider a conceptual framework based on the...

President Biden proposed the American Families Plan (AFP) on April 28, 2021, to provide new social programs to millions of Americans. Specifically, the AFP proposes increasing the top marginal tax rate, taxing some capital gain at ordinary income tax rates, and subjecting more gain to the 3.8%...

The analysis of sales prices and rents for agricultural land are a classical research topic in agricultural economics. Due to increased dynamic on agricultural land markets, their relationship has gained increased interest recently. The present study contributes to the literature by studying the...

In this paper, we test for the existence of a common component in agricultural land auctions in eastern Germany during the price boom 2007-2018 and discuss respective policy implications. Using a large, detailed dataset of auctions, we can rely on professional appraisals of the auctioned good...

This report is a summary of the data contained on the farmland sales portion of the Minnesota Land Economics (MLE) web site (http://landeconomics.umn.edu ) as of February 15, 2020. It is formally reissued each year, as new sales data become available. The present document consists largely of...

We review the recent theoretical and empirical literature on the capitalization of agricultural subsidies into land prices. The theoretical literature predicts that agricultural subsidies are capitalized into land prices when land supply is inelastic and land markets function well. The share of...

Structural change in agriculture is characterized by the interdependency of farms' growth decisions due to the limited availability of the production factor land. This paper adds to the sparse empirical literature on the relation between land market concentration and farm size changes,...

Farmland valuation models usually incorporate local purchasing power as one of the pricing factors. A plausible rationale is that a larger population and higher income per capita imply increasing demand for agricultural products and farmland. In this paper, we study the relationship between the...

This article investigates the role played by informational cost in agricultural land markets to explain price dispersion. Based on a hedonic model under incomplete information, we build a two-tier stochastic frontier. By linking costs of being information deficient to agent characteristics such...

What is produced on farmland is critical to the agriculture sector outcomes. If other objectives, such as farm incomes, jobs, water security, were considered as important as producing more of wheat and cotton in Uzbekistan, the farmland use structure will have looked differently. This report...

This report is a summary of the data contained on the farmland sales portion of the Minnesota Land Economics (MLE) web site (http://landeconomics.umn.edu ) as of February 18, 2019. It is formally reissued each year, as new sales data become available. The present document consists largely of...

A better and more complete understanding of family farms is urgently needed to guide policy makers’ efforts towards achieving a number of Sustainable Development Goals (SDGs). This paper takes stock of the number of farms worldwide, and their distribution and that of farmland, on the basis of...