THE CAUSAL STRUCTURE OF LAND PRICE DETERMINANTS
Joshua Duke and
Titus Awokuse ()
No 20324, 2004 Annual meeting, August 1-4, Denver, CO from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)
This paper investigates causation contemporaneously and over time to elucidate the persistent lack of agreement about what "causes" changes in farmland prices. Using recently developed causal modeling framework of directed acyclic graphs (DAGs) and cointegrated (VAR) techniques, the assumed causal structures of existing structural and empirical models are tested directly. The results validate concerns about the nonstationarity of these series. Land price changes are found to respond to a small subset of the oft-cited causes of price change, including macroeconomic variables.
Keywords: Land; Economics/Use (search for similar items in EconPapers)
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Journal Article: The Causal Structure of Land Price Determinants (2006)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea04:20324
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