Farmland cash rents and the dollar
研究了美元汇率对美国玉米带五个州农田现金租金的影响，发现美元走强与租金上涨正相关，可能通过降低投入品价格提高净收益。
Abstract We explore whether the U.S. exchange rate could have an influence on cash rental rates for farmland in five U.S. cornbelt states. We find that farmland cash rents have a fairly strong, positive correlation with the U.S. dollar, in terms of its real value relative to major agricultural trading partners. One explanation for the correlation is that a strong dollar lowers the price of key inputs and thus has purchasing power effects. A strong dollar may therefore be associated with higher net returns, and the payment of higher cash rents by farmers. We find support for this hypothesis through a series of econometric models.