EconPapers    
Economics at your fingertips  
 

The Railroad’s Impact on Land Values in the Upper Great Plains at the Closing of the Frontier

Christopher S. Decker and David Flynn ()
Additional contact information
Christopher S. Decker: University of Nebraska-Omaha

Economic History from University Library of Munich, Germany

Abstract: We show that the impact of transportation improvements on land values is complex with a direct, positive relationship on the price of land and also a positive relationship with the ratio of improved acres to total acres, another important influence on the per acre price of land. We construct a two step estimation that removes the impact of transportation outlets on the ratio of improved to total acres before including the transportation variables and the adjusted ratio variable as independent variables in a regression on price per acre. This estimation gives us the expected positive impact of railroads on land price. We also use Box-Cox regressions to show the semi-log form, a common model specification, may be inappropriate for our data and possibly then for other land price research.

Keywords: Box-Cox; Railroads; Great Plains (search for similar items in EconPapers)
JEL-codes: N (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-his
Date: 2004-08-09
Note: Type of Document - pdf; pages: 21
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4) Track citations by RSS feed

Downloads: (external link)
https://econwpa.ub.uni-muenchen.de/econ-wp/eh/papers/0408/0408001.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:wpa:wuwpeh:0408001

Access Statistics for this paper

More papers in Economic History from University Library of Munich, Germany
Bibliographic data for series maintained by EconWPA ().

 
Page updated 2019-03-31
Handle: RePEc:wpa:wuwpeh:0408001