We examine the returns from owning cows and buffaloes in rural India. We estimate that when valuing labor at market wages, households earn large, negative average returns from holding cows and buffaloes, at negative 64% and negative 39% respectively. This puzzle is mostly explained if we value...

This paper presents (1) a conceptual framework for structural change when farms may be multiproduct or specialized and (2) an econometrics of causes of structural and total factor productivity (TFP) change for U.S. agriculture. Farm size, farm specialization, and part-time farming are the...