We use new property-level data to estimate the price of land from 2000 to 2013 for nearly the universe of detached single-family homes in the Washington, DC metro area and characterize the housing boom-bust cycle in land and house prices at a fine geography. The data show that land prices were...

The U.S. has a long history of providing generous support for the agricultural sector. A recent omnibus package of farm legislation, the 2008 Farm Bill (P.L. 110-246) will provide in excess of $284 billion in financial support to U.S. agriculture over the 2008-2012 period. Commodity program...

Japan has experienced turbulent behavior of land prices after World War II, especially after 1985. This paper first examines the explanatory power of a simple present-value model and shows its limitation. We then investigate two additional (not mutually exclusive) factors affecting the Japanese...

Japan has experienced turbulent behavior of land prices after World War II, especially after 1985. This paper first examines the explanatory power of a simple present-value model and shows its limitation. We then investigate two additional (not mutually exclusive) factors affecting the Japanese...

Objective – In this study, the impact of earthquake/tsunami threat on land prices is measured using the Hedonic Price Method (HPM). The location of the research is in Padang, West Sumatra. The subject of study is land owners who purchased their land later than September 30, 2009....

The analysis presented here uses simulated and real data sets to investigate the relative merits of parametric, semi- parametric and Bayesian methods in testing for the co-existence of plottage and plattage and in identifying the inflection point. Using artificial datasets generated with spatial...

How do banks respond to asset booms? This paper examines i) how U.S. banks responded to the World War I farmland boom; ii) the impact of regulation; and iii) how bank closures exacerbated the post-war bust. The boom encouraged new bank formation and balance sheet expansion (especially by new...

We develop a general equilibrium model that describes the evolution of land prices and rental rates in a monocentric city. The model explores how differences in a city's borders and land use, i.e., zoning and the presence of undevelopable land, as well as differences in transit technology, i.e.,...