Determinants of Oregon Farmland Values: a Pooled Cross-Sectional, Time Series Analysis

A pooled cross-sectional, time series econometric model is used to examine factors affecting farmland values in Oregon from 1954 to 1978. Value of sales per acre (a proxy used to represent income per acre), average farm size, and the percentage of farmland were found to have a significant effect on...

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Bibliographic Details
Published in:Western Journal of Agricultural Economics 1982-12, Vol.7 (2), p.211-220
Main Authors: Sandrey, Ronald A., Arthur, Louise M., Oliveira, Ronald A., Wilson, W. Robert
Format: Article
Language:English
Subjects:
Agricultural land
Capital gains
Crop economics
Economic value
Farm economics
Farming
Farmlands
Farms
Land economics
Net income
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Summary:A pooled cross-sectional, time series econometric model is used to examine factors affecting farmland values in Oregon from 1954 to 1978. Value of sales per acre (a proxy used to represent income per acre), average farm size, and the percentage of farmland were found to have a significant effect on farmland values for the entire state during the study period. However, the results also indicate that structural changes in agricultural land markets occurred across time and across subregions. Population density was shown to be a significant factor in the Willamette Valley. A positive intercept shifter for 1969-74 and a negative slope shifter for the value of product sales in the same period may reflect a temporal diminishment in buyers' tendencies to be influenced by potential product sales.
ISSN:0162-1912
1068-5502
2327-8285