Export Demand, U.S. Farm Income, and Land Prices: 1949-1985
研究了1949-1985年间国际谷物市场出口需求如何影响美国农业收入，并进一步探讨其对土地价格的作用，发现出口与农业收入关联明显，但与土地价格的传导较弱。
The growing openness of the U.S. economy has caused world supply and demand conditions to have significant farm-level impacts, emphasizing the important macroeconomic linkages between capital, goods, and factor markets in agriculture (Schuh 1983). This study considers the linkage from the international grain market to U.S. farm income in the post-war period, 194985. This linkage suggests that export demand may also have played an important role affecting land and other input prices through the derived demand relationship. Burt (1986), Phipps (1984), and Robison, Lins, and Venkataraman (1985) have each shown that land prices are closely tied to real and expected net returns to farming. This study seeks to supplement their findings by examining the relative role of exports in determining these returns over time. Empirical results clearly show the export/farm income connection. The further linkage to land values, while present, is somewhat less clear.