scholarly journals The Capitalization of Wildlife Recreation Income into Farmland Values

2006 ◽  
Vol 38 (3) ◽  
pp. 597-610 ◽  
Author(s):  
Jason Henderson ◽  
Sean Moore
Keyword(s):  
Land Values ◽  
Farmland Values ◽  
Wildlife Recreation ◽  
The Impact

Wildlife recreation—hunting, fishing, and wildlife watching—appears to be an increasingly important pastime for many Americans. From 1991 to 2001, U.S. wildlife recreation expenditures surged from $77 billion to $108 billion in 2001 dollars. Land lease and ownership expenditures by wildlife recreation participants are also rising and appear to be capitalized into farmland values. This paper analyzes the impact of hunting lease rates on farmland values in Texas. The results indicate that counties with higher wildlife recreation income streams have higher land values.

scholarly journals The Impact of Pasture Insurance on Farmland Values

2014 ◽  
Vol 43 (3) ◽  
pp. 390-405 ◽  
Author(s):  
Jennifer Ifft ◽  
Shang Wu ◽  
Todd Kuethe
Keyword(s):  
Fixed Effects ◽  
Agricultural Land ◽  
Land Values ◽  
Fixed Effects Model ◽  
Field Level ◽  
Gradual Introduction ◽  
Nationally Representative ◽  
Farmland Values ◽  
Publicly Supported ◽  
The Impact

This study examines the impact of publicly supported insurance on agricultural land values. The analysis employs confidential, nationally representative panel data on field-level pastureland values and exploits a natural experiment provided by gradual introduction of the Pasture, Rangeland, and Forage Insurance Pilot Program. We use a field-level fixed-effects model that controls for several time-variant factors. We find that insurance availability is associated with an increase of at least 4 percent in pastureland values. This increase is comparable with increases generated by other government programs but is much smaller than total farmland value increases experienced in recent years.

scholarly journals The impacts of interest rate changes on US Midwest farmland values

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Albulena Basha ◽  
Wendong Zhang ◽  
Chad Hart
Keyword(s):  
Interest Rate ◽  
Great Plains ◽  
Federal Reserve ◽  
State Level ◽  
Land Values ◽  
Federal Funds ◽  
Federal Funds Rate ◽  
Content Type ◽  
Distributed Lag ◽  
Farmland Values

PurposeThis paper quantifies the effects of recent Federal Reserve interest rate changes, specifically recent hikes and cuts in the federal funds rate since 2015, on Midwest farmland values.Design/methodology/approachThe authors apply three autoregressive distributed lag (ARDL) models to a panel data of state-level farmland values from 1963 to 2018 to estimate the dynamic effects of interest rate changes on the US farmland market. We focus on the I-states, Lakes states and Great Plains states. The models in the study capture both short-term and long-term impacts of policy changes on land values.FindingsThe authors find that changes in the federal funds rate have long-lasting impacts on farmland values, as it takes at least a decade for the full effects of an interest rate change to be capitalized in farmland values. The results show that the three recent federal funds rate cuts in 2019 were not sufficient to offset the downward pressures from the 2015–2018 interest rate hikes, but the 2020 cut is. The combined effect of the Federal Reserve's recent interest rate moves on farmland values will be positive for some time starting in 2022.Originality/valueThis paper provides the first empirical quantification of the immediate and long-run impacts of recent Federal Reserve interest rate moves on farmland values. The authors demonstrate the long-lasting repercussions of Federal Reserve's policy choices in the farmland market.

The Impact of Spatial-Temporal Interactions on Industrial Land Values

Urban Studies ◽  
1991 ◽  
Vol 28 (4) ◽  
pp. 577-583 ◽  
Author(s):  
Joseph G. Kowalski ◽  
Christos C. Paraskevopoulos
Keyword(s):  
Land Values ◽  
Industrial Land ◽  
Temporal Interactions ◽  
The Impact

Valuing the soil natural capital: a New Zealand case study

Soil Research ◽  
2013 ◽  
Vol 51 (4) ◽  
pp. 278 ◽  
Author(s):  
Oshadhi Samarasinghe ◽  
Suzie Greenhalgh
Keyword(s):  
New Zealand ◽  
Natural Capital ◽  
Economic Valuation ◽  
Rooting Depth ◽  
Land Values ◽  
Valuation Method ◽  
Land Valuation ◽  
Farmland Values ◽  
Complex Relationships

Inherent characteristics of soil and land valuation data are used to examine the relationship between soil characteristics and rural farmland values to value soil natural capital in the 6000 km2 Manawatu catchment in New Zealand. The study applies a widely used economic valuation method to determine whether the value of inherent characteristics of soils is reflected in land values. We find empirical evidence that the characteristics used to describe soil natural capital stock, e.g. gravel class, drainage class, potential rooting depth, and profile available water, are reflected in rural land values. Moreover, we find that these characteristics of soil stocks do not behave simply as independent variables but that there are complex relationships between them influencing their value.

What Happened to the CBD-Distance Gradient?: Land Values in a Policentric City

1989 ◽  
Vol 21 (2) ◽  
pp. 221-232 ◽  
Author(s):  
E Heikkila ◽  
P Gordon ◽  
J I Kim ◽  
R B Peiser ◽  
H W Richardson ◽  
...  
Keyword(s):  
Los Angeles ◽  
Neighborhood Effects ◽  
Unit Area ◽  
House Price ◽  
Land Values ◽  
Hedonic Regression ◽  
Independent Variables ◽  
Regression Methods ◽  
Major Exception ◽  
The Impact

Hedonic regression methods are used to assess the impact of dwelling and structure characteristics, neighborhood effects, and multiple locations on a sample of almost 11000 residential property sales in Los Angeles County in 1980. Correction for the dwelling characteristic permits the analysis to be interpreted in terms of land values rather than property values per unit area. The selected equation explains more than 93% of the variation in the dependent variable (house price per unit of lot area). All the independent variables (five property or transaction characteristics, four neighborhood effects, and ten locational nodes) are statistically significant, with one major exception: distance from the CBD, which has a very low /-value and an unexpected sign. This result should be considered in the context of many superficial references, based largely on visual symbols such as new office buildings, to a revival of downtown Los Angeles. The authors interpret the finding that eight subcenters have a statistically significant influence on metropolitan residential land values in Los Angeles as yet another indication of the demise of the monocentric model and the need to discuss VS metropolitan areas in policentric terms.

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