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Regional Demand for Farm Buildings in the United States

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  • John T. Scott
  • Earl O. Heady

Abstract

Aggregate time-series data are used to investigate the demand for new investment in farm buildings in eight of the ten production regions of the United States. The explanatory variables which were found highly significant included lagged gross farm income deflated by prices received by farmers, the lagged ratio of the value of farm real estate to the amount of farm mortgages outstanding used as an equity ratio, the lagged deflated rate of interest charged on farm mortgages, and the time trend representing change in technology. Projections were made for investment in each of the eight regions for 1980. All projections indicate lower expenditures than those currently being made. This may be explained, despite the expected increased demand for building services, if the technology of design and use of buildings continues to progress in the future. Least-squares regression with dummy variables to include all regions and several time periods in one equation was used.

Suggested Citation

  • John T. Scott & Earl O. Heady, 1967. "Regional Demand for Farm Buildings in the United States," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 49(1_Part_I), pages 184-198.
    • Handle: RePEc:oup:ajagec:v:49:y:1967:i:1_part_i:p:184-198.
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    File URL: http://hdl.handle.net/10.2307/1237077
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    Cited by:

    1. Debertin, David L. & Freund, R. J., 1975. "The Deletion of Variables From Regression Models Based on Tests of Significance: A Statistical and Moral Issue," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 7(1), pages 211-216, July.
    2. Spinks, Thomas & Dahl, Dale C., 1981. "Inputs Used in U.S. Farm Production: A Bibliography of Selected Economic Studies, 1950-80," Economics and Statistics Services (ESS) Reports 319963, United States Department of Agriculture, Economic Research Service.
    3. Erum Toor & Tanweer Ul Islam, 2019. "Power Comparison of Autocorrelation Tests in Dynamic Models," International Econometric Review (IER), Econometric Research Association, vol. 11(2), pages 58-69, September.

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