A COMPARISON OF ALTERNATIVE PROCEDURES FOR CALCULATING THE RATE OF RETURN TO AGRICULTURAL RESEARCH USING THE PRODUCTION FUNCTION APPROACH

The aim of this paper is to test whether the marginal internal rate of return (MIRR) to research and extension estimates are sensitive to the estimation procedure used to find them. To achieve this, a summary of the previously used estimation procedures is made. Following this a cross section aggregate production function estimate is developed for the U.S. in 1964. The parameter estimates from this model are used to calculate the MIRR's using the different estimation procedures.


Issue Date:
1979
Publication Type:
Working or Discussion Paper
PURL Identifier:
http://purl.umn.edu/13673
Total Pages:
11
Series Statement:
Staff Paper P79-19




 Record created 2017-04-01, last modified 2017-08-23

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