Search Results
Working Paper
Inverse productivity : land quality, labor markets, and risk
I test three explanations of the inverse productivity relationship using the ICRISAT data. I reject land quality differences as a cause of the inverse relationship between profits per hectare and farm size. I find that both labor-market imperfections and risk aversion may play a role in explaining the inverse productivity relationship. Smaller farmers use more labor per-hectare than larger farmers, although the relationship is ameliorated somewhat by considering land-quality effects. Risk aversion may cause smaller farmers to over-apply labor to production, but it also fails to fully explain ...
Journal Article
Making hay off the land
Farmland prices are skyrocketing across the Ninth District. Many worry that the boom can?t last, and what consequences might lurk if it doesn?t.
Journal Article
Farmers are growing an appreciating crop of land
Farm real estate values have increased despite ag conditions.
Journal Article
Will the rebound in farm financial conditions continue?
Journal Article
Swap meet
How a real estate law has driven up farmland prices.
Journal Article
Hedging their bets
Farmers have more tools to manage risk, and are using them.
Journal Article
Rising farmland values : some implications for rural America
Newsletter
Rising farmland values: causes and cautions
On November 15, 2011, the Federal Reserve Bank of Chicago held a conference to explore what has been driving the large and rapid increases in Midwest farmland values. Academics, industry representatives, and regulators presented their views on the factors contributing to these gains, as well as the potential risks posed by them.
Journal Article
How will the 1996 Farm Bill affect the outlook for District farmland values?
Farmland values in the states of the Tenth Federal Reserve District rose about 5.5 percent over the year ended June 30, 1997. Indeed, over the past two years prices in many parts of the country have risen sharply. The jump in farmland values comes at a time of dynamic change in the farm sector. Last year, the federal government enacted sweeping farm legislation that both lowers payments to producers and removes many government controls on farm production.> Government payments have been an important source of farm income for many years, and have likely been capitalized into farmland values. ...