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COVID-19 and Canadian farmland markets in 2020
Canadian Journal of Agricultural Economics ( IF 9 ) Pub Date : 2021-04-15 , DOI: 10.1111/cjag.12283 Chad Lawley 1
Canadian Journal of Agricultural Economics ( IF 9 ) Pub Date : 2021-04-15 , DOI: 10.1111/cjag.12283 Chad Lawley 1
Affiliation
Early evidence suggests that Canadian farmland values increased in 2020. Farming returns were not negatively impacted by COVID-19 and it appears as though farming returns will be strong into 2021. Low interest rates in 2020 contributed to substantial farmland value increases in the last half of 2020. There is some evidence that the development component of farmland values increased in 2020. The future consequences of COVID-19 on farmland values are unclear. Some economists suggest that future inflationary risks have increased. A return to inflation rates comparable to those experienced in the 1970s is unlikely, but if increased inflation does materialize it will put upward pressure on farmland values, while increases in nominal and real interest rates will push farmland values down.
中文翻译:
2020 年 COVID-19 和加拿大农田市场
早期证据表明,加拿大农田价值在 2020 年有所增加。农业回报并未受到 COVID-19 的负面影响,似乎农业回报将在 2021 年强劲。2020 年的低利率导致农田价值在 2020 年下半年大幅上涨2020. 有证据表明 2020 年耕地价值的发展部分有所增加。 COVID-19 对耕地价值的未来影响尚不清楚。一些经济学家认为,未来的通胀风险已经增加。不太可能恢复到与 1970 年代相当的通胀率,但如果通胀确实上升,它将给农田价值带来上行压力,而名义利率和实际利率的上升将压低农田价值。
更新日期:2021-05-28
中文翻译:
2020 年 COVID-19 和加拿大农田市场
早期证据表明,加拿大农田价值在 2020 年有所增加。农业回报并未受到 COVID-19 的负面影响,似乎农业回报将在 2021 年强劲。2020 年的低利率导致农田价值在 2020 年下半年大幅上涨2020. 有证据表明 2020 年耕地价值的发展部分有所增加。 COVID-19 对耕地价值的未来影响尚不清楚。一些经济学家认为,未来的通胀风险已经增加。不太可能恢复到与 1970 年代相当的通胀率,但如果通胀确实上升,它将给农田价值带来上行压力,而名义利率和实际利率的上升将压低农田价值。