Forced Sales and Farmland Prices

Silke Huttel, Simon Jetzinger and Martin Odening

No 129063, Structural Change in Agriculture/Strukturwandel im Agrarsektor (SiAg) Working Papers from Humboldt University Berlin, Department of Agricultural Economics

Abstract: In this paper we analyse agricultural land prices in the German Federal State of Brandenburg within the period 2000-2011. Our objective is to understand the price formation process in foreclosures. One effect of foreclosures relates to pressured sales, which likely lead to a price discount, and another effect relates to public auctions leading to a price premium. The overall effect is derived using direct covariate matching. Our results show that on average, price premia rather than price discounts are realized in forced sales of farmland. The price differential, however, is not constant and depends on prevailing land market conditions.

Keywords: Agribusiness; Agricultural and Food Policy; Agricultural Finance; Demand and Price Analysis; Farm Management; Institutional and Behavioral Economics; Labor and Human Capital (search for similar items in EconPapers)
Pages: 25
Date: 2012-05
New Economics Papers: this item is included in nep-agr
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Related works:
Journal Article: Forced Sales and Farmland Prices (2014)
Working Paper: Forced Sales and Farmland Prices (2013)
Working Paper: FORCED SALES AND FARMLAND PRICES (2012)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:huscpw:129063

DOI: 10.22004/ag.econ.129063

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