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This study examines the impact of publicly supported insurance on agricultural land values. The analysis employs confidential, nationally representative panel data on field-level pastureland values and exploits a natural experiment provided by gradual introduction of the Pasture, Rangeland, and Forage Insurance Pilot Program. We use a field-level fixed-effects model that controls for several time-variant factors. We find that insurance availability is associated with an increase of at least 4 percent in pastureland values. This increase is comparable with increases generated by other government programs but is much smaller than total farmland value increases experienced in recent years.

Keywords: farmland values ; insurance ; June Area Survey

Subject(s): Land Economics/Use

Livestock Production/Industries

Production Economics

Risk and Uncertainty

Issue Date: 2014

Publication Type: Journal Article

PURL Identifier: http://purl.umn.edu/188001 Published in: Agricultural and Resource Economics Review

Volume: Prepublication Previews

Total Pages: 16

Record appears in: Northeastern Agricultural and Resource Economics Association (NAREA) > Agricultural and Resource Economics Review





Autor: Ifft, Jennifer ; Wu, Shang ; Kuethe, Todd H.

Fuente: http://ageconsearch.umn.edu/record/188001?ln=en







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