Assessing the Impact of National Air Quality Standards on Agricultural Land Values: Insights from Corn and Soybean Regions

Cécile Couharde and Rémi Generoso

No 2024-9, EconomiX Working Papers from University of Paris Nanterre, EconomiX

Abstract: We examine the impact of the National Ambient Air Quality Stan-dards, as defined by the Clean Air Act, on agricultural land valueswithin the corn and soybean regions of the United States. To achievethis objective, agricultural census data on farmland values are com-bined with pollution exposure metrics as defined by the Environmen-tal Protection Agency. Using a difference-in-differences approach andconducting various robustness checks, we find that compliance with airquality standards has a statistically significant negative effect on agri-cultural land values at the county level. Moreover, evidence from quan-tile regression analysis suggests that counties in the lower quantiles failto translate the economic and environmental benefits of pollution re-duction into increased farmland values, unlike their counterparts withthe highest-valued lands.

Keywords: Air Quality Standards; Agricultural Land Values; Difference- in-Differences; Quantile Regression (search for similar items in EconPapers)
JEL-codes: C21 Q15 Q53 (search for similar items in EconPapers)
Pages: 31 pages
Date: 2024
New Economics Papers: this item is included in nep-agr and nep-env
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Working Paper: Assessing the Impact of National Air Quality Standards on Agricultural Land Values: Insights from Corn and Soybean Regions (2024)
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