Capitalisation of Single Farm Payment on farm price: an analysis of Swedish farm prices using farm-level data
利用瑞典中小型农场交易数据，采用空间多成员模型分析脱钩的单一农场补贴对农场价格的影响，发现补贴无显著影响，而住宅特征和城市便利性显著影响价格，且存在空间溢出效应。
This paper estimates capitalisation effects of farm attributes with a particular focus on the decoupled Single Farm Payment (SFP) on prices. The spatial analysis employs a sample of mainly small- and medium-sized Swedish farm transactions sold all across Sweden; the results from a spatial multiple-membership model suggest that decoupled SFP has no influence on farm prices. Prices are profoundly influenced by residential characteristics and accessibility to urban amenities. Spatial heterogeneity is found for both regional and local levels, and a large spatial spillover effect is found between neighbouring farms. Results are confirmed by sensitivity analyses.