Regional Demand for Farm Buildings in the United States

John T. Scott and Earl O. Heady

American Journal of Agricultural Economics, 1967, vol. 49, issue 1_Part_I, 184-198

Abstract: Aggregate time-series data are used to investigate the demand for new investment in farm buildings in eight of the ten production regions of the United States. The explanatory variables which were found highly significant included lagged gross farm income deflated by prices received by farmers, the lagged ratio of the value of farm real estate to the amount of farm mortgages outstanding used as an equity ratio, the lagged deflated rate of interest charged on farm mortgages, and the time trend representing change in technology. Projections were made for investment in each of the eight regions for 1980. All projections indicate lower expenditures than those currently being made. This may be explained, despite the expected increased demand for building services, if the technology of design and use of buildings continues to progress in the future. Least-squares regression with dummy variables to include all regions and several time periods in one equation was used.

Date: 1967
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