Abstract
AbstractThe primary purpose of this paper was to estimate the time path of the effect of technology, as measured by research and extension expenditures, on the farm labor market. A distributed lag function was estimated by incorporating the concept of rational distributed lag functions, as developed by Dale Jorgenson, into a simultaneous equation model of the farm labor market. The estimated lag distribution, even though quite long, had a “hump” as hypothesized. The implicit production function implied a positive payoff to the economy from research and extension expenditures.
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