The Impact of Pasture Insurance on Farmland Values

This study examines the impact of publicly supported insurance on agricultural land values. The analysis employs confidential, nationally representative panel data on field-level pastureland values and exploits a natural experiment provided by gradual introduction of the Pasture, Rangeland, and Forage Insurance Pilot Program. We use a field-level fixed-effects model that controls for several time-variant factors. We find that insurance availability is associated with an increase of at least 4 percent in pastureland values. This increase is comparable with increases generated by other government programs but is much smaller than total farmland value increases experienced in recent years.


Issue Date:
2014-12
Publication Type:
Journal Article
PURL Identifier:
http://purl.umn.edu/190993
Published in:
Agricultural and Resource Economics Review, Volume 43, Number 3
Page range:
390-405
Total Pages:
16




 Record created 2017-04-01, last modified 2017-08-28

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