The Spatial and Temporal Diffusion of Agricultural Land Prices
研究了农业土地价格在空间和时间上的扩散模式，发现德国县级土地价格存在长期均衡和短期邻域调整，对理解土地价格波动有参考价值。
In the last decade, many parts of the world experienced severe increases in agricultural land prices. This price surge, however, did not take place evenly in space and time. To better understand the spatial and temporal behavior of land prices, we employ a price diffusion model that combines features of market integration models and spatial econometric models. An application of this model to farmland prices in Germany shows that prices on a county-level are cointegrated. Apart from convergence toward a long-run equilibrium, we find that price transmission experiences short-term adjustments caused by neighboring regions. <i></i>