Abstract: Future conventional and renewable energy production will predominantly occur on farmland, resulting in economic gains as well as potential negative externalities for farmland owners and rural communities. However there is limited research on the economic impact of energy production that takes place on farmland. This study uses the discrete change in expectations caused by the 2008 New York State moratorium on hydraulic fracturing to investigate the net impact of shale gas development on farmland values. We use a difference-in-differences empirical design with a hedonic pricing model. We find that the moratorium led to net economic losses for rural landowners in New York�s Southern tier, as reflected in farmland values declining approximately $1,400/acre.

中文翻译：

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能源生产对农田市场的影响：来自纽约2008年水力压裂暂停声明的证据

摘要：未来常规和可再生能源的生产将主要发生在农田上，这将导致经济收益以及农田所有者和农村社区的潜在负面外部性。但是，关于能源生产对农田的经济影响的研究很少。这项研究使用了由2008年纽约州暂停水力压裂所引起的期望值的离散变化，来研究页岩气开发对农田价值的净影响。我们使用具有享乐定价模型的差异差异经验设计。我们发现，禁令给纽约南部地区的农村土地所有者造成了净经济损失，这反映在农田价值下降约1400美元/英亩的过程中。