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

Arbeitspapier

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.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: Diskussionspapier ; No. DP-58-2015

Classification and Topics

• Classification: Wirtschaft ; Land Ownership and Tenure; Land Reform; Land Use; Irrigation; Agriculture and Environment ; Agricultural Policy; Food Policy ; Single Equation Models; Single Variables: Cross-Sectional Models; Spatial Models; Treatment Effect Models; Quantile Regressions
• Subject: agricultural land prices ; Common Agricultural Policy ; spatial econometrics

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Feichtinger, Paul ; Salhofer, Klaus
• Event: Veröffentlichung
• (who): Universität für Bodenkultur Wien, Department für Wirtschafts- und Sozialwissenschaften, Institut für nachhaltige Wirtschaftsentwicklung
• (where): Wien
• (when): 2015

Further information

• Handle: http://hdl.handle.net/10419/235184
• Last update: 10.03.2025, 11:44 AM CET