An Evaluation of Econometric Models of U.S. Farmland Prices
Forecasting models, Economic forecasting models, Time series forecasting, Farmlands, Autocorrelation, Time series models, Econometrics, Farmland prices, Economic value
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 ftirther research may be needed to explain recent movements of farmland prices.
Original Publication Citation
Pope, Rulon D., et al. “An Evaluation of Econometric Models of U.S. Farmland Prices.” Western Journal of Agricultural Economics, vol. 4, no. 1, 1979, pp. 107–119. JSTOR, JSTOR, www.jstor.org/stable/40987480.
BYU ScholarsArchive Citation
Pope, Rulon; Kramer, Randall A.; Green, Richard D.; and Gardner, B. Delworth, "An Evaluation of Econometric Models of U.S. Farmland Prices" (1979). All Faculty Publications. 2187.
Western Journal of Agricultural Economics
Western Journal of Agricultural Economics © 1979 Western Agricultural Economics Association