Environmental Policies and Agricultural Land Values: Evidence from the Dutch Nutrient Quota System
研究了荷兰基于磷酸盐的动物生产权对农业土地价值的影响，发现强制生产控制计划导致配额约束地区土地价格不成比例上涨，而环境合规成本则缩小了地区间土地价格差距。
The paper analyzes the impact of the phosphate-based animal production rights on agricultural land values in the Netherlands. We claim that the existence of mandatory production control program with regional restriction on trading causes a disproportional increase in land prices in the surplus region where the quota is binding, relative to the deficit region where the quota is not binding, and that the increase in the cost of environmental compliance should generate an eroding effect on the existing gap in land prices. The parameters of an inverse land demand model estimated with panel data support both hypotheses.