Returns, Interest Rates, and Inflation: How They Explain Changes in Farmland Values
研究通胀、农业资产回报率和资本成本如何影响美国玉米带和北部平原的农地价值，发现通胀提供最多信息，且对农业资产回报率更敏感的地区更依赖政府补贴。
Abstract Weather in the Corn Belt and northern plains and the elimination of traditional commodity programs have refocused attention on farmland valuation. This study uses a statistical formulation of information provided by individual regressors to examine the sensitivity of farmland values to changes in inflation, returns on agricultural assets, and the cost of capital. The results indicate that inflation provides the most information on changes in farmland values; however, the regional results indicate that regions that tend to be more sensitive to changes in the return on agricultural assets also rely more heavily on government payments.