A Land Market Cycle in the Netherlands

Geert Woltjer, Jan L. Luijt and Roelof A. Jongeneel

No 44376, 2008 International Congress, August 26-29, 2008, Ghent, Belgium from European Association of Agricultural Economists

Abstract: This paper develops a disequilibrium model of land prices in the Netherlands. It shows that the behaviour of traded quantities and prices of Dutch land have some resemblance with a disequilibrium land market model developed by Søgaard. An error correction model based on Søgaard’s model generates significant results with GDP and the real interest rate as explanatory variables, but regrettably farm income nor government demand for land generate significant results. If the model is correct, bubbles are characteristic for the Dutch land market, and this suggests that there is an opportunity for Dutch government to improve on the timing of buying land for nature policy.

Keywords: Land; Economics/Use (search for similar items in EconPapers)
Pages: 6
Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:ags:eaae08:44376

DOI: 10.22004/ag.econ.44376

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