Journal ArticleDOI
Capital Asset Pricing and Farm Real Estate
TLDR
In this paper, the authors used the capital asset pricing model (CAPM) to estimate risk premiums required to hold farm real estate in a well-diversified market portfolio.Abstract:
those of other investments. Accordingly, this paper uses the capital asset pricing model (CAPM) to estimate risk premiums required to hold farm real estate in a well-diversified market portfolio. Risk premiums are estimated for farm real estate at the national level and for ten farm production regions of the United States. CAPM results then are evaluated in light of farm real estate's unique characteristics.read more
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Journal ArticleDOI
Econometric Modeling of the Capitalization Formula for Farmland Prices
TL;DR: In this paper, an econometric model is formulated to explain the dynamic behavior in farmland prices and the adjustment path of land prices in response to a perturbation in rents is a protracted dampened cycle.
Journal ArticleDOI
Understanding Farmland Price Changes
Richard E. Just,John Miranowski +1 more
TL;DR: In this article, a structural model of land prices is developed, which includes the multidimensional effects of inflation on capital-erosion, savings-return erosion, and real debt reduction as well as the effect of changes in the opportunity cost of capital.
Book
Trends in U.S. Farmland Values and Ownership
Cynthia J. Nickerson,Mitchell J. Morehart,Todd Kuethe,Jayson Beckman,Jennifer Ifft,Ryan Williams +5 more
TL;DR: In this article, the authors consider the impact of changes in agricultural land values on a wide range of policy issues, including agricultural competitiveness, industry structure, commodity programs, conservation payments, farmland protection and local property taxes.
Journal ArticleDOI
From financialization to operations of capital: Historicizing and disentangling the finance–farmland-nexus
TL;DR: In this article, a new way of thinking through the incorporation of farmland into financial markets is proposed, based on the notion of operations of capital, which can make a more nuanced historicization of the entanglement between finance and farmland.
Journal ArticleDOI
Effect of Urban Proximity on Agricultural Land Values
TL;DR: In this article, the size and distance of the effect of urban proximity on agricultural land values vary by population, real income, and time, and there does not appear to be a shift in preferences toward living further from the city center.
References
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Journal ArticleDOI
Capital asset prices: a theory of market equilibrium under conditions of risk*
TL;DR: In this paper, the authors present a body of positive microeconomic theory dealing with conditions of risk, which can be used to predict the behavior of capital marcets under certain conditions.
Journal ArticleDOI
Elements of Econometrics.
Ian Domowitz,Jan Kmenta +1 more
TL;DR: The Elements of Econometrics as mentioned in this paper is a textbook for upper-level undergraduate and master's degree courses and may usefully serve as a supplement for traditional Ph.D. courses in economics.
Book
Elements of econometrics
TL;DR: The emphasis is on simplification whenever possible, assuming the readers know college algebra and basic calculus, and Jan Kmenta explains all methods within the simplest framework, and generalizations are presented as logical extensions of simple cases.