The spatial and temporal diffusion of agricultural land prices

Yang, XinyueHumboldt-Universität zu Berlin, Faculty of Life Sciences, Department of Agricultural Economics, Berlin, Germany (författare)

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 toward a long-run equilibrium, we find that price transmission experiences short-term adjustments caused by neighboring regions.

Odening, MartinHumboldt-Universität zu Berlin, Faculty of Life Sciences, Department of Agricultural Economics, Berlin, Germany (författare)
Ritter, MatthiasHumboldt-Universität zu Berlin, Faculty of Life Sciences, Department of Agricultural Economics, Berlin, Germany(Swepub:hj)ritmat (författare)
Humboldt-Universität zu Berlin, Faculty of Life Sciences, Department of Agricultural Economics, Berlin, Germany (creator_code:org_t)

Ingår i:Land Economics: University of Wisconsin Press95:1, s. 108-1230023-76391543-8325

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