Abstract
This paper estimates capitalisation effects of farm attributes with a particular focus on the decoupled Single Farm Payment (SFP) on prices. The spatial analysis employs a sample of mainly small- and medium-sized Swedish farm transactions sold all across Sweden; the results from a spatial multiple-membership model suggest that decoupled SFP has no influence on farm prices. Prices are profoundly influenced by residential characteristics and accessibility to urban amenities. Spatial heterogeneity is found for both regional and local levels, and a large spatial spillover effect is found between neighbouring farms. Results are confirmed by sensitivity analyses.
| Original language | English |
|---|---|
| Pages (from-to) | 279-300 |
| Number of pages | 22 |
| Journal | European Review of Agricultural Economics |
| Volume | 41 |
| Issue number | 2 |
| DOIs | |
| Publication status | Published - 2014 |
| Externally published | Yes |
Keywords
- hedonic model
- decoupled farm payments
- spatial heterogeneity
- multilevel
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