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The Spatial and Temporal Diffusion of Agricultural Land Prices

Xinyue Yang, Martin Odening () and Matthias Ritter

No 275485, FORLand Project Publications from University of Natural Resources and Applied Life Sciences, Vienna, Department of Economics and Social Sciences

Abstract: In the last decade, many parts of the world experienced severe increases in agricultural land prices. This price surge, however, did not take place evenly in space and time. To better understand the spatial and temporal behavior of land prices, we employ a price diffusion model that combines features of market integration models and spatial econometric models. An application of this model to farmland prices in Germany shows that prices on a county-level are cointegrated. Apart from convergence towards a long-run equilibrium, we find that price transmission also proceeds through short-term adjustments caused by neighboring regions.

Keywords: Agricultural and Food Policy; Agricultural Finance; Land Economics/Use (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-agr
Date: 2018-01-31
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Related works:
Journal Article: The Spatial and Temporal Diffusion of Agricultural Land Prices (2019) Downloads
Working Paper: The Spatial and Temporal Diffusion of Agricultural Land Prices (2018) Downloads
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