000201664 001__ 201664 000201664 005__ 20180123000459.0 000201664 0247_ $$2Other$$aPaper ID 6382 000201664 037__ $$a330-2016-13749 000201664 041__ $$aen_US 000201664 084__ $$aE43 000201664 084__ $$aD44 000201664 084__ $$aQ15 000201664 245__ $$aThe term structure of land lease rates 000201664 260__ $$c2015 000201664 269__ $$a2015 000201664 270__ $$mm.odening@agrar.hu-berlin.de$$pOdening, Martin 000201664 270__ $$mmatthias.ritter@agrar.hu-berlin.de$$pRitter, Matthias 000201664 270__ $$msilke.huettel@uni-rostock.de$$pHüttel, Silke 000201664 300__ $$a22 000201664 336__ $$aConference Paper/ Presentation 000201664 520__ $$aThis paper applies the concept of a term structure to agricultural land rental prices. Based on theoretical considerations, we develop a hedonic pricing model that allows for different shapes of the term structure curve while controlling for other price-relevant characteristics. We apply this model to land lease contracts in Saxony-Anhalt concluded between 2002 and 2010. We find an upward-sloping term structure at the beginning, that is, market participants expected increasing rental prices. For the subsequent years, however, we detect a single-humped term structure. Hence, market participants revised their expectations and assumed a decline of land rental prices in the long-term. 000201664 542__ $$fLicense granted by Gabriele Wuerth (gabriele.wuerth@agrar.hu-berlin.de) on 2015-04-15T08:42:24Z (GMT): <center> <h2> Deposit Agreement </h2> </center> I represent that I am the creator of the digital material identified herein (“Work”). I represent that the work is original and that I either own all rights of copyright or have the right to deposit the copy in a digital archive such as AgEcon Search. I represent that in regard to any non-original material included in the Work I have secured written permission of the copyright owner (s) for this use or believe this use is allowed by law. I further represent that I have included all appropriate credits and attributions. I hereby grant the Regents of the University of Minnesota (“University”), through AgEcon Search, a non-exclusive right to access, reproduce, and distribute the Work, in whole or in part, for the purposes of security, preservation, and perpetual access. I grant the University a limited, non-exclusive right to make derivative works for the purpose of migrating the Work to other media or formats in order to preserve access to the Work. I do not transfer or intend to transfer any right of copyright or other intellectual property to the University. If the Deposit Agreement is executed by the Author�s Representative, the Representative shall separately execute the following representation: I represent that I am authorized by the Author to execute this Deposit Agreement on behalf of the Author. 000201664 650__ $$aDemand and Price Analysis 000201664 650__ $$aFarm Management 000201664 650__ $$aLand Economics/Use 000201664 6531_ $$aFarmland 000201664 6531_ $$alease rate 000201664 6531_ $$aterm structure 000201664 6531_ $$ahedonic price model 000201664 6531_ $$aprivatization 000201664 700__ $$aOdening, Martin 000201664 700__ $$aRitter, Matthias 000201664 700__ $$aHüttel, Silke 000201664 773__ $$d2015 000201664 8564_ $$s646680$$uhttp://ageconsearch.umn.edu/record/201664/files/AAEA-term%20structure%20of%20land%20lease%20rates.pdf 000201664 887__ $$ahttp://purl.umn.edu/201664 000201664 909CO $$ooai:ageconsearch.umn.edu:201664$$pGLOBAL_SET 000201664 912__ $$nSubmitted by Gabriele Wuerth (gabriele.wuerth@agrar.hu-berlin.de) on 2015-04-15T09:12:19Z No. of bitstreams: 1 AAEA-term structure of land lease rates.pdf: 646680 bytes, checksum: 92cdbe214f2d199f6163c938c46ec4b9 (MD5) 000201664 912__ $$nMade available in DSpace on 2015-04-15T09:12:19Z (GMT). No. of bitstreams: 1 AAEA-term structure of land lease rates.pdf: 646680 bytes, checksum: 92cdbe214f2d199f6163c938c46ec4b9 (MD5) Previous issue date: 2015 000201664 982__ $$gAgricultural and Applied Economics Association>2015 AAEA & WAEA Joint Annual Meeting, July 26-28, San Francisco, California 000201664 980__ $$a330