We use newly constructed state-specific data to explore the implications of common modeling choices for measures of research returns. Our results indicate that state-to-state spillover effects are important, that the research and development lag is longer than many studies have allowed, and that...

CONTEXT -- A Brief History of U.S. Agriculture -- INPUTS, OUTPUTS AND PRODUCTIVITY -- Agricultural Inputs -- Agricultural Outputs -- Agricultural Productivity Patterns -- AGRICULTURAL R&D FUNDING AND POLICIES -- Research Funding and Performance -- The Federal Role -- MODELS OF R&D AND...

Replaced with revised version of paper 07/22/11. Former Title: Revisiting the Returns to U.S. Public Agricultural Research: New Measures, Models, Results, and Interpretation

Agricultural research has transformed agriculture and in doing so contributed to the transformation of economies. Economic issues arise because agricultural research is subject to various market failures, because the resulting innovations and technological changes have important economic...