Charles Moss & Andrew Schmitz 
Government Policy and Farmland Markets 
The Maintenance of Farmer Wealth

Of immeasurable value to lenders, agricultural economists, and a
host of agribusinesses this unique volume brings together leading
farmland authorities in the United States and Canada to examine the
economic determinants of land value and the consequences of change
in land values.

As the most basic factor of production in the agricultural
enterprise, farmland dominates the agricultural balance sheet,
accounting for an average of 70% of all agricultural assets. The
authors of this timely book provide expert analysis and review of
this subject.

Tabla de materias

Contributors.

Acknowledgments.

Foreword.

Section I: Historical Perspectives on Farmland
Values.

1 Farmland Markets in the Development of U.S. Agriculture
(Willard W. Cochrane).

2 Disaggregating Farmland Markets (Philip M. Raup).

3 Farmland Markets: Historical Perspectives and Contemporary
Issues (Bruce J. Sherrick and Peter J. Barry).

Section II: Government Policies and Farmland Values.

4 The Economics and Politics of Farmland Values (Andrew
Schmitz and Richard E. Just).

5 U.S. Commodity Policies and Land Values (Bruce
Gardner).

6 Explaining Regional Differences in the Capitalization of
Policy Benefits into Agricultural Land Values (Barry K. Goodwin,
Ashok K. Mishra, and Fran Fois N. Ortalo-Magne)

7 Do Direct Payments Have Inter-Temporal Effects on U.S.
Agriculture? (Terry Roe, Agapi Somwaru, and Xinshen
Diao).

8 Economies of Farm Size, Government Payments, and Land Costs
(Luther Tweeten and Jeffrey Hopkins).

Section III: Capital Markets and Farmland Values.

9 Capital Markets, Land Values, and Boom-Bust Cycles (Allen
M. Featherstone and Charles B. Moss).

10 Hysteresis and the Value of Farmland: A Real-Options Approach
to Farmland Valuation (Calum Turvey).

11 The Certainty Equivalence of Farmland Values: 1910 to 2000
(Charles B. Moss, J.S. Shonkwiler, and Andrew Schmitz).

12 Cash Rents, Imputed Returns, and the Valuation of Farmland
Revisited (Kenneth Erichon, Ashok K. Mishra. and Charles B.
Moss).

Section IV: Transaction Costs and Farmland Values.

13 On the Dynamics of Land Markets under Transaction Costs
(Jean-Paul Chavas).

14 Spectral Evidence on the Investment Horizon and Transaction
Costs for Present-Value Models of Iowa Farmland Prices (Douglas
J. Miller).

15 Using Threshold Autoregressions to Model Farmland Prices
under Transaction Costs and Variable Discount Rates (Sergio H.
Lence).

Section V: Urbanization, Environmental Quality, and Farmland
Values.

16 Local Land Markets and Agricultural Preservation Programs
(Lori Lynch and Sabrina J. Lovell).

17 Efficiency, Equity, and Farmland Protection: An Economic
Perspective (Lawrence W. Libby).

18 Urban Influence: Effects on U.S. Farmland Markets and Value
(Charles Barnard, Keith Wiebe, and Vince Breneman).

19 Rural Amenities and Farmland Values (Lawrence W. Libby and
Elena G. Irwin).

Section VI: Regional and International Dimensions.

20 Micro-Markets for Farmland: The Case of Florida and
California (John E. Reynolds and Warren Johnston).

21 Effects of Government Restrictions on Land Ownership: The
Saskatchewan Case (Jared Carlberg and Hartley Furtan).

Index.

Sobre el autor

Charles Moss is Professor, Food and Resource Economics,
University of Florida, Gainesville, and co-editor of the Journal
of Agricultural & Applied Economics 1999-2001.

Andrew Schmitz is the Ben Hill Griffin Eminent Scholar
and Professor, Food & Resource Economics, University of
Florida, Gainesville.