The Role of Environmental and Land Transaction Regulations on Agricultural Land Price: The example of Brittany. Factor Markets Working Document No. 52, June 2013

Using data from individual transactions for the period 1994-2010 in the French NUTS2 region Brittany, the authors investigated how environmental regulations and transaction land regulations influence the price of sold plots. Regressions on three sub-samples of buyers were performed in order to assess whether different buyers have different attitudes or plans regarding the farmland purchased: a sub-sample including only farmer-buyers, a sub-sample including non-farmer individual buyers, and a sub-sample including non-farmer non-individual buyers. Estimations were performed ignoring and accounting for spatial interactions (model SARAR). Results indicate that the price of land decreases when buyers are farmers, that the nitrate surplus area zoning increases the price of land, even more so for farmer-buyers. Regarding land transaction regulations, there is a negative effect, on land price, of the purchaser being the current tenant or being the land regulating public body SAFER. Estimating the model on different sub-samples depending on the buyers’ type shed light on the factors that are more important for each buyer.

Influence of Agricultural Support on Sale Prices of French Farmland: A comparison of different subsidies, accounting for the role of environmental and land regulations. Factor Markets Working Document No. 51, June 2013

This paper investigates the determinants of agricultural land price in several regions in France over the period 1994-2011, using individual plot transaction data, with a particular emphasis on agricultural subsidies and nitrate zoning regulations. It found a positive but relatively small capitalisation effect of the total subsidies per hectare. The data revealed that agricultural subsidies capitalised, at least to some extent, but the magnitude of such a capitalisation depends on the region considered, on the type of subsidy considered, and on the location of the plot in a nitrate surplus zone or not. Only land set-aside premiums significantly capitalise into land price, while single farm payments have a significant positive capitalisation impact only for plots located in a nitrate-surplus zone.

Relação entre mercado de terras, crescimento econômico e insegurança fundiária explicada por um modelo a "geração imbricada"

In this paper, we analyze the relationship between the land market failures and the economic growth in Brazil, starting from an overlapping model including two sectors: agricultural and industrial. The land is both a specific factor for agriculture and an asset that can be substituted to the capital used in industry. The trade-off between land and capital holding depends, among other factors, on the transaction costs on the land market. These costs result from land insecurity and generate a decrease in the land price that favors capital accumulation. Two assumptions follow from our model: one the one hand, land insecurity has a negative effect on the land price; one the other hand it has a positive effect on economic growth. These two hypotheses are tested on panel data for Brazilian Federation. The econometric results do not reject our hypothesis.

Precios del Suelo en Bogota: crecimiento versus especulación.

Bogota’s urban land price had an explosive acceleration in its annual valorization between 1991 and 1995, which could impla a speculative bubble. This document uses local Real Estate Association information to determine the spatial aspect of the existente or inexistente of a spatial speculative process.

Agribusiness Opportunity Costs and Environmental Legal Protection: Investigating Trade-Off on Hotspot Preservation in the State of So Paulo, Brazil

Prior to deforestation, So Paulo State had 79,000 km(2) covered by Cerrado (Brazilian savanna) physiognomies, but today less than 8.5% of this biodiversity hotspot remains, mostly in private lands. The global demand for agricultural goods has imposed strong pressure on natural areas, and the economic decisions of agribusiness managers are crucial to the fate of Cerrado domain remaining areas (CDRA) in Brazil. Our aim was to investigate the effectiveness of Brazilian private protected areas policy, and to propose a feasible alternative to promote CDRA protection. This article assessed the main agribusiness opportunity costs for natural areas preservation: the land use profitability and the arable land price. The CDRA percentage and the opportunity costs were estimated for 349 municipal districts of So Paulo State through secondary spatial data and profitability values of 38 main agricultural products. We found that Brazilian private protected areas policy fails to preserve CDRA, although the values of non-compliance fines were higher than average opportunity costs. The scenario with very restrictive laws on private protected areas and historical high interest rates allowed us to conceive a feasible cross compliance proposal to improve environmental and agricultural policies.

The Empirical Content of the Present Value Model: A survey of the instrumental uses of farmland prices. Factor Markets Working Document No. 53, June 2013

After reviewing the Present Value Model (PVM), in its basic form and with its major extensions, the authors carried out a literature review on the instrumental uses of farm land prices; namely what land prices may reveal in the framework of the PVM. Urban influence, non-market goods and climate change are topics where the PVM used with applied data may reveal farmers’ or landowners’ beliefs or subjective values, which are discussed in this paper. There is also extensive discussion of the topic of public regulations, and how they may affect land price directly, or through its present value.

O centro de Fortaleza como lugar de moradia

The present study has the objective of analyzing how the ways of dwelling influences the uses and the functional and symbolic appropriations of the urban space in Fortaleza city center, through the perspective of the residents and their relation with the living place. Scenarios of development and degradation of its urban space have marked the city center of Fortaleza. The intensification of the commercial and services occupation promoted through the years, paradoxically, the valorization of the land price and the devalorization of the residential use. Thus, the residential occupation was consolidated in a discontinuous way, being concentrated mainly in the external limits of the historical core of the neighborhood. The research is structured over the delimitation of an area and the selection of multifamily residential buildings, built since the 1960s, close to the central core of the neighborhood. The spatial configuration analysis of the selected residential buildings, and their relations with the urban surroundings and the land uses, reveals different aspects related to the urban vitality, producing impacts over the ways of dwelling constituted by the daily life of the residents. The study of the ways of dwelling involves the comprehension that the dwelling is beyond the private residential boundaries and the functional occupation. The conceptual base of this research is developed over the perspective that the dwelling represents a fundamental aspect of the human condition, allowing the person to relate with the space in an essential way (HEIDEGGER, 2012). In this perspective of the dwelling, the space reunites the mental and the cultural, the social and the historical, being marked by simultaneous logics of the conceived, the perceived and the lived space (LEFEVBRE, 2006). The development of this study, over the point of view of the neighborhood residents, is inserted in the perspective of the lived space, related to the concept of place, understood as a qualitative phenomenon, giving essence and identity to the space. The place of dwelling, marked by coexistences, is one of the structural elements of the urban land use, and potential for the rehabilitation of the central areas in big cities. Therefore, the study starts from the hypothesis that the location, the nearby land uses and the spatial configuration of the residential buildings affect the ways of dwelling, in other words the residents dissolve the boundaries of the shelter and experience the urban space, from the dwelling place. The requalification of the dwelling is opposed to the residential space based in functionality, in hierarchy, in self sufficiency, in standardization and in the reproduction of the urban space, materialized in the dense contemporary residential buildings, that are unrelated to the city. The stages of the research involved the spatial configuration analysis of the selected residential buildings and their surrounding, the land use mapping and interviews with the residents. The collected data allowed verifying that the buildings are located in areas presenting heterogeneous land uses, with a great number of residents and users. However, these aspects are not sufficient to promote the vitality of the public spaces in the neighborhood, since the people movement in the streets is controlled by the opening hours of the predominant commercial use in the area. The word of the residents, collected in interviews, indicate that the conservation conditions of the public spaces and the insecurity influences their everyday relations with the place of dwelling, affecting fundamental aspects for the dwelling requalification in the central area of Fortaleza.

O centro de Fortaleza como lugar de moradia

The present study has the objective of analyzing how the ways of dwelling influences the uses and the functional and symbolic appropriations of the urban space in Fortaleza city center, through the perspective of the residents and their relation with the living place. Scenarios of development and degradation of its urban space have marked the city center of Fortaleza. The intensification of the commercial and services occupation promoted through the years, paradoxically, the valorization of the land price and the devalorization of the residential use. Thus, the residential occupation was consolidated in a discontinuous way, being concentrated mainly in the external limits of the historical core of the neighborhood. The research is structured over the delimitation of an area and the selection of multifamily residential buildings, built since the 1960s, close to the central core of the neighborhood. The spatial configuration analysis of the selected residential buildings, and their relations with the urban surroundings and the land uses, reveals different aspects related to the urban vitality, producing impacts over the ways of dwelling constituted by the daily life of the residents. The study of the ways of dwelling involves the comprehension that the dwelling is beyond the private residential boundaries and the functional occupation. The conceptual base of this research is developed over the perspective that the dwelling represents a fundamental aspect of the human condition, allowing the person to relate with the space in an essential way (HEIDEGGER, 2012). In this perspective of the dwelling, the space reunites the mental and the cultural, the social and the historical, being marked by simultaneous logics of the conceived, the perceived and the lived space (LEFEVBRE, 2006). The development of this study, over the point of view of the neighborhood residents, is inserted in the perspective of the lived space, related to the concept of place, understood as a qualitative phenomenon, giving essence and identity to the space. The place of dwelling, marked by coexistences, is one of the structural elements of the urban land use, and potential for the rehabilitation of the central areas in big cities. Therefore, the study starts from the hypothesis that the location, the nearby land uses and the spatial configuration of the residential buildings affect the ways of dwelling, in other words the residents dissolve the boundaries of the shelter and experience the urban space, from the dwelling place. The requalification of the dwelling is opposed to the residential space based in functionality, in hierarchy, in self sufficiency, in standardization and in the reproduction of the urban space, materialized in the dense contemporary residential buildings, that are unrelated to the city. The stages of the research involved the spatial configuration analysis of the selected residential buildings and their surrounding, the land use mapping and interviews with the residents. The collected data allowed verifying that the buildings are located in areas presenting heterogeneous land uses, with a great number of residents and users. However, these aspects are not sufficient to promote the vitality of the public spaces in the neighborhood, since the people movement in the streets is controlled by the opening hours of the predominant commercial use in the area. The word of the residents, collected in interviews, indicate that the conservation conditions of the public spaces and the insecurity influences their everyday relations with the place of dwelling, affecting fundamental aspects for the dwelling requalification in the central area of Fortaleza.

Price movement in the Brazilian land market (1994-2010): an analysis in the light of post-Keynesian theory

ABSTRACT The present study aims to evaluate crop, pasture and forest land prices in Brazil, between 1994 and 2010, in the light of Post-Keynesian theory. The results provide evidence that land, more than just a simple factor of production, must be conceived of as an economic asset. In fact, the price of rural land is determined not only by the expected profitability deriving from agricultural activities but also by the agents' expectations about its future appreciation and liquidity in an economic environment permeated with uncertainty. In this context, as an object of speculation, land has been particularly important as a store of value.

Land, technical progress and the falling rate of profit

The paper sets out a one sector growth model with a neoclassical production function in land and a capital-labour aggregate. Capital accumulates through capitalist saving, the labour supply is infinitely elastic at a subsistence wage and all factors may experience factor augmenting technical progress. The main result is that, if the elasticity of substitution between land and the capital-labour aggregate is less than one and if the rate of caital augmenting technical progress is strictly positive, then the rate of profit will fall to zero. The surprise is that this result holds regardless of the rate of land augmenting technical progress; that is, no amount of technical advance in agriculture can stop the fall in the rate of profit. The paper also discusses the relation of this result to the classical and Marxist literature and sets out the path of the relative price of land.

06009-004 Price Creek Watershed Final Report

Price Creek is a 13 mile long stream located in SE Benton County and the NE corner of Iowa County. It ends below the village of Amana where it flows into the Iowa River. The Iowa and Benton County Soil & Water Conservation Districts (SWCDs) applied (and were tentatively approved) for 319/WPF/WSPF funding to treat livestock and water quality issues in this watershed over the next three years. That project’s funds were allocated for a Project Coordinator, information and education activities, and cost share for Best Management Practices (BMPs) directed toward livestock issues and nutrient issues. Soil erosion and sedimentation are also problems in this 18,838 acre watershed. It is 64% HEL (highly erodible land) and 58% of it is cropped. With a coordinator working with Price Creek producers, this would be an excellent time to also address the soil loss and sedimentation issues in this watershed. We will offer additional cost share incentives on BMPs targeting soil erosion on the critical areas we’ve identified. We are applying to IWIRB for additional funding to allow us to cost share specific BMPs up to 75% to treat soil loss in these critical areas of the Price Creek Watershed.

Welland Canal Survey of Lands David Price, 1834

Survey map and description of David Price's land created by The Welland Canal Company. Included is a written description of the land along with a drawing of the land. Noteable features include; Hellem's Creek, road, bridge, Chippewa, Griffith's land, canal. The deed for the land is dated October 14, 1834. The land totals 5 acres, 3 roads and 7 perches. Surveyor notes are seen in pencil and red pen on the map.

Indenture of Land Sold by George Shaw to Richard and William Woodruff

Indenture stating that George Shaw of Niagara sold 1 acre, 2 roods and 1 perch in the Village of St. Davids to Richard and William Woodruff. The price was 66 pounds - instrument no. 6926, June 9, 1824.

The price of space: the convergence of value in use and value in exchange

This paper discusses concepts of value from the point of view of the user of the space and the counter view of the provider of the same. Land and property are factors of production. The value of the land flows from the use to which it is put, and that in turn, is dependent upon the demand (and supply) for the product or service that is produced/provided from that space. If there is a high demand for the product (at a fixed level of supply), the price will increase and the economic rent for the land/property will increase accordingly. This is the underlying paradigm of Ricardian rent theory where the supply of land is fixed and a single good is produced. In such a case the rent of land is wholly an economic rent. Economic theory generally distinguishes between two kinds of price, price of production or “value in use” (as determined by the labour theory of value), and market price or “value in exchange” (as determined by supply and demand). It is based on a coherent and consistent theory of value and price. Effectively the distinction is between what space is ‘worth’ to an individual and that space’s price of exchange in the market place. In a perfect market where any individual has access to the same information as all others in the market, price and worth should coincide. However in a market where access to information is not uniform, and where different uses compete for the same space, it is more likely that the two figures will diverge. This paper argues that the traditional reliance of valuers to use methods of comparison to determine “price” has led to an artificial divergence of “value in use” and “value in exchange”, but now such comparison are becoming more difficult due to the diversity of lettings in the market place, there will be a requirement to return to fundamentals and pay heed to the thought process of the user in assessing the worth of the space to be let.