Farmland Ownership Policy: Technical Paper
Peter Bell ()
MPRA Paper from University Library of Munich, Germany
In this paper I develop a theoretical model to analyze policy that restricts who can own land. I briefly review research related to such policy in Saskatchewan, Canada, and identify a standard supply-demand model that I extend in several ways. First, I replicate results for how policy affects prices and develop new results for how policy affects social welfare using comparative statics. Second, I extend the model to a dynamic setting where demand curves change over time and show that policy can affect price changes in variety of ways, which I refer to as comparative dynamics. Third, I conduct a series of simulations to compare my model and a standard model. I establish stylistic facts about data on price levels, differences, and ratios generated by the different models.
Keywords: Farmland; ownership; policy; demand and supply; comparative statics; comparative dynamics; simulation (search for similar items in EconPapers)
JEL-codes: C00 D00 Q15 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:53185
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