The Spatial and Temporal Diffusion of Agricultural Land Prices
X. Yang and
Martin Odening ()
No 277414, 2018 Conference, July 28-August 2, 2018, Vancouver, British Columbia from International Association of Agricultural Economists
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. Acknowledgement : Financial support from the China Scholarship Council (CSC NO.201406990006) and the Deutsche Forschungsgemeinschaft (DFG) through Research Unit 2569 Agricultural Land Markets Efficiency and Regulation is gratefully acknowledged. The authors also thank Oberer Gutachterausschuss f r Grundst ckswerte in Niedersachsen (P. Ache) for providing the data used in the analysis.
Keywords: Land; Economics/Use (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-agr
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
Journal Article: The Spatial and Temporal Diffusion of Agricultural Land Prices (2019)
Working Paper: The Spatial and Temporal Diffusion of Agricultural Land Prices (2018)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:ags:iaae18:277414
Access Statistics for this paper
More papers in 2018 Conference, July 28-August 2, 2018, Vancouver, British Columbia from International Association of Agricultural Economists Contact information at EDIRC.
Bibliographic data for series maintained by AgEcon Search ().