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The right of government to compulsorily acquire land for public purpose including but not limited to mining purposes is universally recognised. Equally axiomatic is the right to adequately compensate the deprived landowners for the loss of their land to the public. This paper discusses the power...
Persistent link: https://www.econbiz.de/10014185764
In 1996 the federal government enacted the Federal Agriculture Improvement and Reform (FAIR) Act, which represented a sweeping change in public policy toward agriculture. This paper examines the impact of the FAIR legislation on farmland values across the U.S. Corn Belt. A representative farm...
Persistent link: https://www.econbiz.de/10014150690
In this paper we present results of a land-use forecasting model that we calibrated with vast geo-referenced data of a major metropolitan area. Each land parcel includes information concerning regulations indicating permitted land-uses as well as the certain characteristics of existing...
Persistent link: https://www.econbiz.de/10014081567
This paper develops an approach to decompose farmland price time series into three components: permanent fundamental component, temporary fundamental component, and nonfundamental component. This decomposition is useful for studying the importance of fundamental versus nonfundamental factors in...
Persistent link: https://www.econbiz.de/10014089457
We conduct a national-scale study of the determinants of agricultural land values to better understand how current farmland prices are influenced by the potential for future land development. The theoretical basis for the empirical analysis is a spatial city model with stochastic returns to...
Persistent link: https://www.econbiz.de/10014118856
It has become increasingly common to allocate highway franchises to the bidder that offers to charge the lowest toll. Often, building a highway increases the value of land held by a small group of developers, an effect that is more pronounced with lower tolls. We study the welfare implications...
Persistent link: https://www.econbiz.de/10014120267
We use a national dataset of land sales to construct land price indexes for 23 MSAs in the United States and for the aggregate of those MSAs. We construct the price indexes by estimating hedonic regressions with a large sample of land transactions dating back to the mid-1990s. The regressions...
Persistent link: https://www.econbiz.de/10013128648
In this paper, we construct a dataset of annual expected forest profits in New Zealand from 1990-2008 at a fine spatial … resolution. We do not include land values in any of our profit calculations. We estimate four measures of expected forest profits … variation in each of our measures, changes over time in NPV on land in forest in 2008, and variation in NPV over space in 2008 …
Persistent link: https://www.econbiz.de/10013104521
Does credit availability exacerbate asset price inflation? Are there long run consequences? During the farm land price boom and bust before the Great Depression, we find that credit availability directly inflated land prices. Credit also amplified the relationship between positive fundamentals...
Persistent link: https://www.econbiz.de/10013107219
Persistent link: https://www.econbiz.de/10013111953