Fixed Effects Model Estimation Results
| Full Sample (1) | Inside Irrigation District (2) | Outside Irrigation District (3) | |
|---|---|---|---|
| Dry period 1 (2001–2002) | 0.043 (0.64) | 0.106 (0.48) | 0.062 (-3.08)*** |
| Wet period 2 (2003–2006) | 0.116 (0.61) | 0.281 (0.49) | –0.138 (–0.59) |
| Dry period 2 (2007–2009) | –0.009 (–0.06) | 0.191 –0.880 | –0.364 (–3.08)*** |
| ER × Dry period 1 (2001–2002) | –0.461 (–2.14)** | –0.417 (–1.90)* | –0.401 (–0.88) |
| ER × Wet period 2 (2003–2006) | –0.226 (–0.94) | –0.343 (–0.97) | 0.071 (0.54) |
| ER × Dry period 2 (2007–2009) | 0.018 (0.11) | –0.104 (–0.46) | 0.269 (0.95) |
| Depth to groundwater | –0.039 (–3.09)*** | –0.037 (–0.15) | –0.015 (–0.67) |
| ER × Depth to groundwater | –0.023 (–0.40) | 0.024 (0.28) | –0.118 (–2.09)** |
| Depth to groundwater, CV | –0.219 (–0.64) | 0.062 (0.49) | –1.669 (–0.67) |
| ER × Depth to groundwater, CV | 0.211 (0.55) | –0.070 (–0.62) | 3.448 (2.06)** |
| Orchard/vineyard cropland share | –0.146 (–0.74) | –0.135 (–0.16) | –0.150 (–0.67) |
| ER × Orchard/vineyard cropland share | 0.296 (1.31) | 0.239 (0.71) | 0.577 (2.40)** |
| Idle cropland acreage | 0.094 (0.52) | 0.203 (0.15) | –0.492 (–0.67) |
| ER × Idle cropland acreage | –0.143 (–0.41) | 0.091 (0.19) | 0.312 (0.68) |
| Number of JAS segments | 128 | 82 | 46 |
| Number of JAS segment-years | 425 | 270 | 155 |
| Weighted sample size | 83,908 | 48,392 | 35,516 |
Note: The dependent variable is the logged real per-acre land value (in 2009 dollars). All models contain June Area Survey (JAS) segment fixed effects. t-Statistics generated by clustering standard errors by county and district membership using the wild t-bootstrap approach outlined by Cameron, Gelbach, and Miller (2008) are presented in parentheses. CV, coefficient of variation; ER, export restriction.
↵*, **, *** Significance at the 10%, 5%, and 1% levels, respectively.