The Influence of Market Returns and Government Payments on Canadian Farmland Values

Richard Vyn, Zahoor ul Haq, Jeevika Weerahewa and Karl Meilke

No 122738, Working Papers from Canadian Agricultural Trade Policy Research Network

Abstract: This study estimates the impact of changes in market returns and government payments on farmland values across Canada using data from 1959 to 2009. A recursive simultaneous equation model is estimated to account for the counter-cyclical relationship between market returns and government payments. The results indicate that farmland values are more responsive to changes in market returns than in government payments, but both are important drivers of land values. The elasticity of land values with respect to government payments is lower than has been observed in the United States. In addition, the partial decoupling of government payments has not reduced their impact on farmland values.--------------------------------------------Revised and published as: Vyn, Richard J., Zahoor Ul Haq, Jeevika Weerahewa and Karl D. Meilke. 2012. “The Influence of Market Returns and Government Payments on Canadian Farmland Values. Journal of Agricultural and Resource Economics 37(2):199-212.

Keywords: Agricultural and Food Policy; Demand and Price Analysis; Land Economics/Use (search for similar items in EconPapers)
Pages: 21
Date: 2012-04
New Economics Papers: this item is included in nep-agr
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Citations: View citations in EconPapers (10)

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Related works:
Journal Article: The Influence of Market Returns and Government Payments on Canadian Farmland Values (2012)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:catpwp:122738

DOI: 10.22004/ag.econ.122738

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