While economists agree on the importance of returns to land as a determinant of farmland prices, they disagree about the role of interest rates and inflation. Analysis of farmland prices for the conterminous United States, the Corn Belt, and wheat-growing areas of Kansas showed that the real interest rate on farm mortgages had only a minimal and temporary effect on farmland prices before 1972. The real interest rate along with returns have become major determinants of farmland prices since then. Changes in the inflation rate will affect real farmland prices if nominal interest rates fail to keep up with inflation.
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其它主题
Interest (finance); Land values; United states; Costs and returns; Corn
语言
英语
注释
2019-12-06
类型
Journal Article; Text
2024-02-28
2026-02-03
MODS