Research article2014Peer reviewed
Capitalisation of Single Farm Payment on farm price: an analysis of Swedish farm prices using farm-level data
Karlsson, Joel; Nilsson, Pia
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.
Keywords
hedonic model; decoupled farm payments; spatial heterogeneity; multilevel
Published in
European Review of Agricultural Economics
2014, Volume: 41, number: 2, pages: 279-300
UKÄ Subject classification
Economics
Publication identifier
DOI: https://doi.org/10.1093/erae/jbt021
Permanent link to this page (URI)
https://res.slu.se/id/publ/114091