Abstract
In this chapter we develop the structure of our models for estimating the effects of U.S. public agricultural research on U.S. agricultural productivity. We begin by laying out a general model relating research spending to agricultural productivity. Because this general specification includes too many parameters to be estimated individually with any degree of precision, some restrictions must be imposed. A conventional approach is to model productivity as a function of knowledge stocks that are created as a result of past research and can be represented using a distributed lag model defined by a small number of parameters. In this chapter we describe our approach for creating research knowledge stocks, including the specification of the research lag structure and state-to-state (and federal-to-state) spillovers used to construct the knowledge stocks. In later chapters we evaluate the effects of specification choices on our estimates and the implied benefit-cost ratios.
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© 2010 Springer Science+Business Media, LLC
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Alston, J.M., James, J.S., Andersen, M.A., Pardey, P.G. (2010). Models of Research and Productivity. In: Persistence Pays. Natural Resource Management and Policy, vol 34. Springer, New York, NY. https://doi.org/10.1007/978-1-4419-0658-8_9
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DOI: https://doi.org/10.1007/978-1-4419-0658-8_9
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