Government Policy and Farmland Markets: The Maintenance of Farmer Wealth

Government Policy and Farmland Markets: The Maintenance of Farmer Wealth

Author: Charles Moss, Andrew Schmitz
ISBN: 9780813823294
Pages: 421
Format: 17 X 24
Binding: Hardback
Pub. Year: 2003

Of immeasurable value to students, faculty, and professionals involved in agricultural economics, finance, policy, and a host of agribusinesses this unique volume brings together leading farmland authorities in the United States and Canada to examine the economic determinants of land value and the consequences of changes in land values. The authors of this timely book provide expert analysis and review of this subject, examining it from the following perspectives:
• An historical overview of the structure and performance of farmland markets in the United States
• The links between farmland values and agricultural policy in the United States
• The capital market dimension of farmland values
• The mechanics of farmland markets, especially the cost of buying and selling farmland
• Environmental concerns, including the potential impact of urban encroachment
• The role of regulations against foreign ownership of farmland on farmland values in Canada.



Table of Contents

Foreword.
Chapter 1 Farmland Markets in the Development of U.S. Agriculture.
Chapter 2 Historical Perspective on Farmland Markets.
Chapter 3 The Economics of Farmland Values.
Chapter 4 U.S. Commodity Policies and Land Prices.
Chapter 5 Explaining Regional Differences in the Capitalization of Policy Benefits into Agricultural Land Values.
Chapter 6 Capital Markets, Land Values, and Boom-Bust Cycles.
Chapter 7 Hysteresis and the Value of Farmland.
Chapter 8 On the Certainty Equivalence of Agricultural Assets.
Chapter 9 Cash Rents, Imputed Returns and the Valuation of Farmland Revisited.
Chapter 10 Transaction Costs and Farmland Values.
Chapter 11 Further Results on Iowa Farmland Values and Transaction Costs.
Chapter 12 Using Threshold Autoregressions to Model Asset Pricing Under Transaction Costs: Iowa Farmland, 1900-1994.
Chapter 13 Comparing the Local Land Market’s Value for Parcel Characteristics to the Value Paid by Agricultural Preservation Programs.
Chapter 14 Effect of Urban Influences (Sprawl) and Farmland Values.
Chapter 15 Rural Amenities and Farmland Values.
Chapter 16 Do Regional Land Markets Exist: An Application of Land Economic Principles.
Chapter 17 Micro-Markets for Farmland: The Case of Florida and California.
Chapter 18 Foreign Ownership and Farmland Values