Farmland returns and economic conditions: a FAVAR approach |
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| Authors: | Todd H Kuethe Todd Hubbs Mitch Morehart |
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| Institution: | 1. Economic Research Service, 1400 Independence Ave. SW, Mail Stop 1800, Washington, DC, 20250-1800, USA
2. University of Wisconsin-River Falls, 410 S. 3rd Street, River Falls, WI, 54022, USA
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| Abstract: | This study examines the linkages between farmland returns and other market forces including the returns to alternative investments, agricultural sector activity, non-farm real estate, and macroeconomic conditions over the period 1973–2008. The study applies factor-augmented vector autoregression to extract information from a large panel of economic time series. Results suggest that farmland returns are influenced by common trends in the returns to alternative investments and general macroeconomic conditions. |
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