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The role of credit constraints and government subsidies in farmland valuations in the US: an options pricing model approach

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  • Ashok Mishra
  • Charles Moss
  • Kenneth Erickson

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  • Ashok Mishra & Charles Moss & Kenneth Erickson, 2008. "The role of credit constraints and government subsidies in farmland valuations in the US: an options pricing model approach," Empirical Economics, Springer, vol. 34(2), pages 285-297, March.
    • Handle: RePEc:spr:empeco:v:34:y:2008:i:2:p:285-297
    DOI: 10.1007/s00181-007-0122-9
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    References listed on IDEAS

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    1. Ashok Mishra & Charles Moss & Kenneth Erickson, 2004. "Valuing farmland with multiple quasi-fixed inputs," Applied Economics, Taylor & Francis Journals, vol. 36(15), pages 1669-1675.
    2. Badi H. Baltagi & Chihwa Kao, 2000. "Nonstationary Panels, Cointegration in Panels and Dynamic Panels: A Survey," Center for Policy Research Working Papers 16, Center for Policy Research, Maxwell School, Syracuse University.
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    Citations

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    Cited by:

    1. Hartarska, Valentina M. & Nadolnyak, Denis A., 2012. "Financing Constraints and Access to Credit in Post Crisis Environment: Evidence from New Farmers in Alabama," 2012 Annual Meeting, August 12-14, 2012, Seattle, Washington 124882, Agricultural and Applied Economics Association.
    2. Hartarska, Valentina M. & Nadolnyak, Denis A., 2012. "Financing Constraints and Access to Credit in Post Crisis Environment: Evidence from New Farmers in Alabama," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 44(4), pages 1-15, November.
    3. Buchholz, Matthias & Danne, Michael & Musshoff, Oliver, 2022. "An experimental analysis of German farmers’ decisions to buy or rent farmland," Land Use Policy, Elsevier, vol. 120(C).
    4. Sabasi, Darlington & Kompaniyets, Lyudmyla, 2015. "Impact of credit constraints on profitability and productivity in U.S. agriculture," 2015 AAEA & WAEA Joint Annual Meeting, July 26-28, San Francisco, California 205689, Agricultural and Applied Economics Association.
    5. Pavel Ciaian & d’Artis Kancs, 2012. "The Capitalization of Area Payments into Farmland Rents: Micro Evidence from the New EU Member States," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 60(4), pages 517-540, December.
    6. Soliwoda, Michal & Kulawik, Jacek & Wieliczko, Barbara, 2018. "Financial instruments and EU community policies," Village and Agriculture (Wieś i Rolnictwo), Polish Academy of Sciences (IRWiR PAN), Institute of Rural and Agricultural Development, vol. 180(3), September.
    7. Calzadilla, Alvaro & Zhu, Tingju & Rehdanz, Katrin & Tol, Richard S.J. & Ringler, Claudia, 2013. "Economywide impacts of climate change on agriculture in Sub-Saharan Africa," Ecological Economics, Elsevier, vol. 93(C), pages 150-165.
    8. Hartarska, Valentina & Nadolnyak, Dennis, 2012. "Financing Constraints and Access to Credit in a Postcrisis Environment: Evidence from New Farmers in Alabama," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 44(4), pages 607-621, November.
    9. Hartarska, Valentina M. & Nadolnyak, Denis A., 2012. "Financing Constraints and Access to Credit in Post Crisis Environment: Evidence from New Farmers in Alabama," 2012 Annual Meeting, February 4-7, 2012, Birmingham, Alabama 119799, Southern Agricultural Economics Association.
    10. Alexandre Cordier & Jean Gohin & Stephane Krebs & Arnaud Rault, 2013. "Dynamic Impacts of a Catastrophic Production Event: The Foot‐and‐Mouth Disease Case," Risk Analysis, John Wiley & Sons, vol. 33(3), pages 480-492, March.
    11. Callahan, Scott & Ifft, Jennifer & Michaud, Clayton P., 2022. "The impact of countercyclical farm programs on agricultural land values," 2022 Annual Meeting, July 31-August 2, Anaheim, California 322579, Agricultural and Applied Economics Association.
    12. Hongguang Zheng & Zhanbin Zhang, 2021. "Analyzing Characteristics and Implications of the Mortgage Default of Agricultural Land Management Rights in Recent China Based on 724 Court Decisions," Land, MDPI, vol. 10(7), pages 1-16, July.
    13. Buddi Wibowo, 2019. "Bank Loan, Inflation, and Farmers Welfare: Data Analysis by Province in Indonesia," Asian Development Policy Review, Asian Economic and Social Society, vol. 7(1), pages 23-30, March.
    14. Chang, H.H., 2018. "Stigmatized versus Capitalization Effect on Farmland Prices - Application to the Agricultural Disaster Relief Program in Taiwan," 2018 Conference, July 28-August 2, 2018, Vancouver, British Columbia 276977, International Association of Agricultural Economists.
    15. Liang, Lu, 2014. "Federal Crop Insurance and Credit Constraints: Theory and Evidence," 2014 Annual Meeting, July 27-29, 2014, Minneapolis, Minnesota 169825, Agricultural and Applied Economics Association.
    16. Kagan, Adam & Soliwoda, Michał & Gospodarowicz, Marcin, 2024. "Evaluation of the Effects of Replacing the Wibor Rate by the Wiron Rate for Preferential Credits in Polish Agriculture," International Journal of Agricultural Sciences and Technology (IJAGST), SvedbergOpen, vol. 378(01), March.
    17. repec:ags:ijag24:344526 is not listed on IDEAS
    18. Tzong-Haw Lee & Hung-Hao Chang & Yi-Ting Hsieh & Bo-Yuan Chang, 2021. "Can Agricultural Disaster Relief Programs Affect Farmland Prices? Empirical Evidence from Farmland Transaction Data," Land, MDPI, vol. 10(7), pages 1-14, July.
    19. Moro, Daniele & Sckokai, Paolo, 2013. "The impact of decoupled payments on farm choices: Conceptual and methodological challenges," Food Policy, Elsevier, vol. 41(C), pages 28-38.
    20. Laure Latruffe & Chantal Le Mouël, 2009. "Capitalization Of Government Support In Agricultural Land Prices: What Do We Know?," Journal of Economic Surveys, Wiley Blackwell, vol. 23(4), pages 659-691, September.
    21. Kagan Adam & Soliwoda Michał & Gospodarowicz Marcin, 2024. "Evaluation of the Effects of Replacing the Wibor Rate by the Wiron Rate for Preferential Credits in Polish Agriculture," Zagadnienia Ekonomiki Rolnej / Problems of Agricultural Economics, Sciendo, vol. 378(1), pages 1-29.
    22. Flores-Lagunes, Alfonso & Moss, Charles B., 2008. "State Level Evidence of the Boom/Bust Cycle for Farmland," 2007 Agricultural and Rural Finance Markets in Transition, October 4-5, 2007, St. Louis, Missouri 48146, Regional Research Committee NC-1014: Agricultural and Rural Finance Markets in Transition.

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    More about this item

    Keywords

    Farmland values; Pooling; Debt-solvency; Government payments; Panel cointegration; Q14; Q24; R14; R38;
    All these keywords.

    JEL classification:

    • Q14 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Finance
    • Q24 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Land
    • R14 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Land Use Patterns
    • R38 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Government Policy

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