AN EVALUATION OF ECONOMETRIC MODELS OF U.S. FARMLAND PRICES
Resource information
Date of publication
July 1979
Resource Language
ISBN / Resource ID
AGRIS:US2012206877
Previously published empirical models of U.S. farmland prices are reviewed and reestimated including recent data. It is apparent that structural changes have occurred. A simple single equation econometric model with less economic structure appears to forecast better than a simultaneous equation model. Finally, Box-Jenkins forecasts are roughly as good as those based upon a simultaneous equation econometric model, but somewhat inferior to the single equation model. The results suggest that further research may be needed to explain recent movements of farmland prices.
