Journal Article

Returns, Interest Rates, and Inflation: How They Explain Changes in Farmland Values

Charles B. Moss

in American Journal of Agricultural Economics

Published on behalf of Agricultural and Applied Economics Association

Volume 79, issue 4, pages 1311-1318
Published in print November 1997 | ISSN: 0002-9092
Published online November 1997 | e-ISSN: 1467-8276 | DOI: http://dx.doi.org/10.2307/1244287
Returns, Interest Rates, and Inflation: How They Explain Changes in Farmland Values

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Weather in the Corn Belt and northern plains and the elimination of traditional commodity programs have refocused attention on farmland valuation. This study uses a statistical formulation of information provided by individual regressors to examine the sensitivity of farmland values to changes in inflation, returns on agricultural assets, and the cost of capital. The results indicate that inflation provides the most information on changes in farmland values; however, the regional results indicate that regions that tend to be more sensitive to changes in the return on agricultural assets also rely more heavily on government payments.

Keywords: asset valuation; bits of information; commodity programs; E310; Q120; Q150; Q180

Journal Article.  0 words. 

Subjects: Prices, Business Fluctuations, and Cycles ; Agricultural Economics

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