Is there a Term Structure in Land Lease Rates?
dc.contributor.author | Hüttel, Silke | |
dc.contributor.author | Ritter, Matthias | |
dc.contributor.author | Esaulov, Viacheslav | |
dc.contributor.author | Odening, Martin | |
dc.date.accessioned | 2017-06-15T20:17:22Z | |
dc.date.available | 2017-06-15T20:17:22Z | |
dc.date.created | 2014-08-28 | |
dc.date.issued | 2014-08-28 | |
dc.date.submitted | 2014-08-15 | |
dc.identifier.uri | http://edoc.hu-berlin.de/18452/3887 | |
dc.description.abstract | This paper applies the concept of a term structure to agricultural land rental prices. Based on theoretical considerations, we develop a hedonic pricing model that allows for different shapes of the term structure curve while controlling for other price-relevant characteristics. We apply this model to land lease contracts in Saxony-Anhalt concluded between 2002 and 2010. We find an upward-sloping term structure at the beginning, that is, market participants expected increasing rental prices. For the subsequent years, however, we detect a singlehumped term structure. Hence, market participants revised their expectations and assumed a decline of land rental prices in the long-term. | eng |
dc.language.iso | eng | |
dc.publisher | Albrecht Daniel Thaer-Institut für Agrar- und Gartenbauwissenschaften | |
dc.rights.uri | http://rightsstatements.org/vocab/InC/1.0/ | |
dc.subject | Farmland | eng |
dc.subject | lease rate | eng |
dc.subject | term structure | eng |
dc.subject | hedonic price model | eng |
dc.subject | privatization | eng |
dc.subject.ddc | 630 Landwirtschaft und verwandte Bereiche | |
dc.subject.ddc | 300 Sozialwissenschaften | |
dc.title | Is there a Term Structure in Land Lease Rates? | |
dc.type | book | |
dc.identifier.urn | urn:nbn:de:kobv:11-100219763 | |
dc.identifier.doi | http://dx.doi.org/10.18452/3235 | |
local.edoc.pages | 23 | |
local.edoc.type-name | Buch | |
local.edoc.container-type | series | |
local.edoc.container-type-name | Schriftenreihe | |
local.edoc.container-year | 2014 | |
dc.identifier.zdb | 2942080-5 | |
bua.series.name | SiAg Working Papers | |
bua.series.issuenumber | 2014,17 |