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The Land Market Cycle

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  • Sogaard, Villy

Abstract

The present paper provides a theoretical analysis of agricultural land markets. A recursive model is set out to explore the dynamic interplay between prices, price expectations and quantities. According to the model, a shock to the market will generate a cyclical pattern of prices and quantities. This pattern is termed the land market cycle. Empirical evidence confirms the existence of such cycles, each having a duration of 7-8 years. Copyright 1993 by Oxford University Press.

Suggested Citation

  • Sogaard, Villy, 1993. "The Land Market Cycle," European Review of Agricultural Economics, Oxford University Press and the European Agricultural and Applied Economics Publications Foundation, vol. 20(1), pages 65-76.
    • Handle: RePEc:oup:erevae:v:20:y:1993:i:1:p:65-76
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    Cited by:

    1. Drescher, Klaus & Henderson, Jason R. & McNamara, Kevin T., 2001. "Farmland Price Determinants," 2001 Annual meeting, August 5-8, Chicago, IL 20685, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    2. Woltjer, Geert B. & Luijt, Jan L. & Jongeneel, Roelof A., 2008. "A Land Market Cycle in the Netherlands," 2008 International Congress, August 26-29, 2008, Ghent, Belgium 44376, European Association of Agricultural Economists.

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