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- Title
Forced Sales and Farmland Prices.
- Authors
Hüttel, Silke; Jetzinger, Simon; Odening, Martin
- Abstract
We analyze farmland prices in the German federal state of Brandenburg from 2000 to 2011 with the aim to understand the price formation process in farmland foreclosures. Pressured sales usually result in a price discount due to time constraints; however, the land is sold using public auctions. This may lead to a price premium. Since the effect of a foreclosure on farmland prices is ambiguous, we empirically quantify the overall effect. We use matching techniques and a regression-based approach. We find that on average, price premiums are realized, though the effect depends on prevailing land market conditions.
- Subjects
BRANDENBURG (Germany); GERMANY; FARM sales &; prices; PRICING; FARM foreclosures; REGRESSION analysis; AMBIGUITY; SALE of business enterprises; DISCOUNT prices; ECONOMICS; GERMAN economy
- Publication
Land Economics, 2014, Vol 90, Issue 3, p395
- ISSN
0023-7639
- Publication type
Article
- DOI
10.3368/le.90.3.395