Location of Repository

Speculation in Agricultural Land *

By Maurice J. Roche and Website Www. May. Ie\academic\economics

Abstract

Agricultural land prices in many developed countries rose and then fell dramatically over a relatively short period of time in the late 1970s and early 1980s. Most of the models in the literature that describe the dynamic behaviour of agricultural land prices suggest that these sharp price movements were not completely due to market fundamentals. Many attribute part of this price volatility to speculation. This phenomenon is investigated by estimating a general regime-switching model that nests many types of speculative behaviour as special cases. We find strong evidence to support a partially collapsing bubbles story about Irish agricultural land prices

Topics: speculation, fads, bubbles, farmland prices Corresponding Author, Dr. Maurice J. Roche
Year: 2011
OAI identifier: oai:CiteSeerX.psu:10.1.1.195.1781
Provided by: CiteSeerX
Download PDF:
Sorry, we are unable to provide the full text but you may find it at the following location(s):
  • http://citeseerx.ist.psu.edu/v... (external link)
  • http://www.may.ie/academic/eco... (external link)
  • Suggested articles


    To submit an update or takedown request for this paper, please submit an Update/Correction/Removal Request.