TY - JOUR
T1 - Factors influencing Illinois farmland values
AU - Huang, Haixiao
AU - Miller, Gay Y.
AU - Sherrick, Bruce J.
AU - Gómez, Miguel I.
N1 - Funding Information:
The authors thank the two anonymous reviewers and the editor for their valuable comments. This research was funded in part by a grant from the Council on Food and Agricultural Research, Swine Odor and Manure Management Strategic Research Initiative.
PY - 2006/5
Y1 - 2006/5
N2 - A hedonic model of Illinois farmland values is estimated using county-level cross-section time-series data. Explanatory variables include land productivity, parcel size, improvements, distances to Chicago and other large cities, an urban-rural index, livestock production through swine operation scale and farm density measures, population density, income, and inflation. The inclusion of spatial and serial correlation components substantially improves the model fit. Farmland values decline with parcel size, ruralness, distance to Chicago and large cities, and swine farm density, and increase with soil productivity, population density, and personal income.
AB - A hedonic model of Illinois farmland values is estimated using county-level cross-section time-series data. Explanatory variables include land productivity, parcel size, improvements, distances to Chicago and other large cities, an urban-rural index, livestock production through swine operation scale and farm density measures, population density, income, and inflation. The inclusion of spatial and serial correlation components substantially improves the model fit. Farmland values decline with parcel size, ruralness, distance to Chicago and large cities, and swine farm density, and increase with soil productivity, population density, and personal income.
KW - Farmland value
KW - Hedonic price model
KW - Spatial lag
KW - Swine production
KW - Time-series cross-section data
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U2 - 10.1111/j.1467-8276.2006.00871.x
DO - 10.1111/j.1467-8276.2006.00871.x
M3 - Article
AN - SCOPUS:33645749115
SN - 0002-9092
VL - 88
SP - 458
EP - 470
JO - American Journal of Agricultural Economics
JF - American Journal of Agricultural Economics
IS - 2
ER -