Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/227608
Authors: 
Kionka, Marlene
Odening, Martin
Plogmann, Jana
Ritter, Matthias
Year of Publication: 
2020
Series/Report no.: 
FORLand-Working Paper No. 25 (2020)
Abstract: 
This paper contributes to the sparse empirical literature on measuring liquidity in agricultural land markets. Using data from Lower Saxony (Germany), we inspect the spatial and temporal variability of various liquidity indicators. We apply a panel vector autoregression (VAR) and Granger causality tests to examine the relationship between liquidity and prices and to identify further determinants of land market liquidity, such as supply shocks and clientele effects. Unlike in housing markets, no positive relationship between prices and market liquidity exists. We conclude that in agricultural land markets, a high demand from expanding farms absorbs supply shocks regardless of prevailing prices.
Subjects: 
Agricultural land markets
liquidity indicators
panel vector autoregressive model
Granger causality
JEL: 
Q13
Q24
C32
C33
Persistent Identifier of the first edition: 
Creative Commons License: 
https://creativecommons.org/licenses/by-nc-nd/4.0/
Document Type: 
Working Paper

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