EconPapers    
Economics at your fingertips  
 

The Fischler Reform of the Common Agricultural Policy and Agricultural Land Prices

Paul Feichtinger and Klaus Salhofer ()

No DP-58-2015, Discussion Papers from University of Natural Resources and Life Sciences, Vienna, Department of Economics and Social Sciences, Institute for Sustainable Economic Development

Abstract: Based on 7,300 agricultural land sales transactions we estimate the effect of the 2003 reform of the Common Agricultural Policy on land prices. As opposed to the main body of the literature on agricultural land values, we do not start from a demand-oriented net present value approach or hedonic prizing method, but derive our reduced form pricing equation from a spatial land sales market model. Our empirical model accounts for spatial dependence and endogeneity of explanatory variables. A reduction of payments by 50 €/ha would decrease land sales prices by 445 €/ha before and by 984 €/ha after the reform.

Keywords: agricultural land prices; Common Agricultural Policy; spatial econometrics (search for similar items in EconPapers)
JEL-codes: C21 Q15 Q18 (search for similar items in EconPapers)
Date: 2015
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3) Track citations by RSS feed

Downloads: (external link)
https://www.econstor.eu/bitstream/10419/235184/1/dp58-2015.pdf (application/pdf)

Related works:
Journal Article: The Fischler Reform of the Common Agricultural Policy and Agricultural Land Prices (2016) Downloads
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:zbw:inwedp:dp582015

Access Statistics for this paper

More papers in Discussion Papers from University of Natural Resources and Life Sciences, Vienna, Department of Economics and Social Sciences, Institute for Sustainable Economic Development Contact information at EDIRC.
Bibliographic data for series maintained by ZBW - Leibniz Information Centre for Economics ().

 
Page updated 2023-01-10
Handle: RePEc:zbw:inwedp:dp582015