This paper studies the profitability of investments in agricultural land, using the rent–price ratio (RPR) as a profitability measure. In order to allow for district-level heterogeneity, the full conditional distribution of the RPR is modelled using a generalised additive model for location, shape and scale. The analysis is based on data from Lower Saxony, Germany. The profitability of investments in land varies between and within districts. The variation can be explained by differences in the farming structure, the production programme and economic indicators. Further, differences in the distribution of the RPR between arable land and grassland are found.

中文翻译：

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德国农业用地地租价格关系分布

本文研究了农业用地投资的盈利能力，使用租金价格比 (RPR) 作为盈利能力的衡量标准。为了考虑到地区层面的异质性，RPR 的完整条件分布使用位置、形状和规模的广义加法模型进行建模。该分析基于德国下萨克森州的数据。土地投资的盈利能力在地区之间和地区内各不相同。这种变化可以通过农业结构、生产计划和经济指标的差异来解释。此外，还发现了耕地和草地之间的RPR分布差异。