The spatial and temporal diffusion of agricultural land prices

Arbeitspapier

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 towards a long-run equilibrium, we find that price transmission also proceeds through short-term adjustments caused by neighboring regions.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: FORLand-Working Paper ; No. 01 (2018)

Classification and Topics

• Classification: Wirtschaft ; Renewable Resources and Conservation: Land ; Single Equation Models; Single Variables: Panel Data Models; Spatio-temporal Models
• Subject: Agricultural land markets ; price diffusion ; spatial dependence ; ripple effect

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Yang, Xinyue ; Odening, Martin ; Ritter, Matthias
• Event: Veröffentlichung
• (who): Humboldt-Universität zu Berlin, DFG Research Unit 2569 FORLand "Agricultural Land Markets - Efficiency and Regulation"
• (where): Berlin
• (when): 2018

Further information

• DOI: doi:10.18452/18720
• Handle: http://hdl.handle.net/10419/213055
• Last update: 10.03.2025, 11:43 AM CET