The Impact of Natural Amenity on Farmland Values: A Quantile Regression Approach

The objective of this study is to estimate the impact of natural amenity on farmland values in the contiguous United States using a quantile regression approach and data from the 2006, 2007, and 2008 Agricultural Resource Management Surveys. The contribution of this study is three-fold. First, we explicitly include variables representing natural amenity and soil characteristics of farmland. Second, we employ a quantile regression approach to examine potentially heterogeneous impacts of natural amenity and soil characteristics at different quantiles of farmland values. Third, we utilized data from a nationwide survey of farm household to examine findings in studies using regional data are consistent at a national scale. Our quantile regression analysis offers some insightful results. Natural amenity is positively correlated with farmland values and its impact is often more pronounced at a higher price range of farmland.


Issue Date:
2012
Publication Type:
Conference Paper/ Presentation
PURL Identifier:
http://purl.umn.edu/119804
Total Pages:
18
JEL Codes:
C14; Q15; Q24




 Record created 2017-04-01, last modified 2017-08-26

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