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- W2208856687 abstract "This 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." @default.
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- W2208856687 date "2015-01-01" @default.
- W2208856687 modified "2023-09-26" @default.
- W2208856687 title "The term structure of land lease rates" @default.
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- W2208856687 doi "https://doi.org/10.22004/ag.econ.201664" @default.
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