Research Reports & Briefs

The TIAA Center for Farmland Research provides Original Research and Briefs of Center related publications to highlight issues of interest to the agricultural community, including investors, farmers, researchers and businesses. Additionally, linkages are provided to farmland-related materials at farmdoc site and farmdocDaily site for ease of access to Center supported research and outreach programming.

Research Reports:

The Relationship Between Inflation and Farmland Returns.

This TIAA Center for Farmland Research publication examines the relationship between inflation and farmland returns through time and across differing periods of inflationary pressure from 1970 to present.  Farmland is shown to be positively related to inflation and to maintain a reasonably stable, though proportional spread to consumer-based measures of inflation.  Various measures of return to farmland, and to the period and location are considered with the results demonstrating the robustness of the relationship.  Alternative holding periods are also examined with the result strengthening with aggregation and length of holding period.  Finally, various alternative investment classes are also compared to provide portfolio context and to demonstrate the financial performance of farmland as an asset class.

Farmland Markets:  Valuation, Investment Performance, and Issues for the Future.

This Center Publication identifies and addresses contemporary issues affecting farmland markets, and provides associated linkages to related research and data describing the farmland sector and major issues affecting its future. The document will be updated periodically to reflect changes in conditions and characteristics of farmland markets, and to continue to track issue at the forefront of policy, and changing market structures.  Included are linkages to farm sector balance sheet details through time along with capital shares, turnover data and a utility to estimate property basis values, along with a utility to assess state-level returns and components of return through time, and Center supported farmdocDaily posts related to farmland values and rental arrangements, related research bibliographic references, and a broad set of indicators of the performance of the asset viewed as a financial investment.

Research Briefs:

Farmland Turnover report – Illinois Evidence from Transactions Data

Impact of Urban Influence on Farmland Values

Farmland Returns and Economic Conditions: A FAVAR Approach

Financial Performance Farmland Investments

The Impacts of the Tax-Deferred Exchange Provision on Farm Real Estate Values