Periodically, events occur in the domestic and global economies that remind agricultural economists that macroeconomics matter. This was evident in the early 1980s when the Federal Reserve responded to double-digit inflation by driving interest rates to post–World War II period highs. The...

Supply and demand equations for explaining net changes in farm real estate debt by lending institutions arc presented. Capital appreciation, net farm plus nonfarm income, and the ratio of money balances to gross production expenses are used to explain changes in demand. Changes in supply arc...