TABLE A1

Additional Robustness Checks for Spatial Fixed-Effects Model

(a)(b)(c)(d)(e)(f)
Distance to nearest city center×Within 10 miles−0.0096***
(0.0015)		−0.0092***
(0.0012)		−0.0094***
(0.0013)		−0.1300***
(0.0229)		−0.0095***
(0.0013)
Distance to nearest city center×Within 10 miles×Post-2008 dummy0.0038
(0.0027)		0.0051**
(0.0026)		0.0050***
(0.0016)		0.0991**
(0.0492)		0.0048*
(0.0026)
Distance to nearest city center×Beyond 10 miles−0.0102***
(0.0013)		−0.0081***
(0.0011)		−0.0087***
(0.0011)		−0.1370***
(0.0218)		−0.0090***
(0.0012)
Distance to nearest city center×Beyond 10 miles×Post-2008 dummy0.0049*
(0.0026)		0.0051**
(0.0026)		0.0070***
(0.0011)		0.1111**
(0.0472)		0.0060**
(0.0025)
Distance to nearest city center−0.0091***
(0.0012)
Distance to nearest city center×Post-2008 dummy0.0055**
(0.0024)
Incremental distance to second-nearest city center−0.0037***
(0.0008)		−0.0038***
(0.0007)		−0.0053***
(0.0007)		−0.0252***
(0.0068)		−0.0036*
(0.0008)		−0.0035*
(0.0008)
Incremental distance to second-nearest city center×Post-2008 dummy0.0016
(0.0017)		0.0038**
(0.0017)		0.0082***
(0.0012)		0.0123
(0.0159)		0.0024
(0.0016)		0.0027*
(0.0016)
Urban population within 25 miles0.0002***
(0.0001)		0.0003***
(0.0000)		0.0002***
(0.0000)		0.0003***
(0.0000)		0.0002***
(0.0000)		0.0002***
(0.0000)
Urban population within 25 miles×Post-2008 dummy7.99E–05
(0.0001)		0.0001
(0.0001)		0.0002**
(0.0001)		9.82E–05
(0.0001)		0.0001
(0.0001)		8.23–05
(0.0001)
Gravity index1.85E–05***
(0.0000)		2.62E–05***
(0.0000)		2.2E –05***
(0.0000)		1.15E–05*
(0.0000)		2.09E–05***
(0.0000)		2.12E–05***
(0.0000)
Gravity index×Post-2008 dummy−1.90E–05***
(0.0000)		−2.70E–05***
(0.0000)		−2.3E–05***
(0.0000)		−1.20E–05*
(0.0000)		−2.10E–05***
(0.0000)		−2.20E–05***
(0.0000)
Building area % of parcel0.0793
(0.0534)		0.0961*
(0.0518)		0.1112**
(0.0511)		0.0592
(0.0523)		0.1001*
(0.0513)		0.1015**
(0.0512)
Distance to highway on-ramp−0.0021
(0.0034)		−0.0045
(0.0033)		−0.0019
(0.0032)		−0.0129***
(0.0050)		−0.0055*
(0.0033)		−0.0051*
(0.0033)
Distance to railway station−0.0008
(0.0038)		−0.0045
(0.0036)		−0.0045
(0.0036)		0.0006
(0.0086)		0.0005
(0.0036)		0.0004
(0.0036)
Year fixed effectsYesYesYesYesYes
Price deflator using quarterly Housing Price IndexYes
Functional formLog-linearLog-linearLog-linearLog-logLog-linearLog-linear
Spatial fixed effectsCensus block groupTownshipCensus tractCensus tractCensus tractCensus tract
Root mean squared error0.61700.63010.62000.62440.62390.6239
Adjusted R20.25050.22160.24320.23240.23360.2336
Number of observations10,60410,60410,81710,60410,60410,604

  • Note: Column (c) uses the quarterly Housing Price Index from the Federal Housing Finance Agency, following suggestions from one reviewer, while the other specifications use just year fixed effects without a price deflator. In column (e) we change within 10 miles of the boundary of urbanized areas with at least 50,000 people to within 20 miles of the boundary of urbanized areas with at least 100,000 people to account for the greater urban influence of larger cities. In all models the dependent variable is the log of per-acre agricultural land prices without structures. The estimated standard errors of the spatial autocorrelation coefficients are in parentheses.

  • *, **, and *** indicate the coefficient is significant at the 10%, 5%, and 1% levels, respectively.