Very ammo specific. High intensity LR ammo like Stingers or Aquila MP can keep gaining velocity from a lot more barrel length than sub sonic target ammo can, for instance.
And longer barrels are not more accurate. Period. Not in the purest sense of least potential bullet dispersion on target anyway. If using iron sights, a longer sight radius will help with aiming precision, but that is not even relevant for telescopic sights.
A gross over simplification is that the more rigid a barrel is, the lower the amplitude of the barrel harmonics, the less potential for bullet dispersion. Shorter barrels are more rigid. Always. All else being equal. So, shorter barrels are more accurate, all else being equal.
But, with rimfires, it's really not quite all that cut and dried. The comparatively low amplitude of the barrel harmonics make longer barrels easier to tune, with longer sweet spots in the harmonics. Shorter barrels, while having lower amplitude, have higher frequency, making them more difficult to tune.
Again, becomes very ammo specific. If you happen to find the right lot of ammo to have the bullet exiting the barrel at a harmonic node on the short barrel, it will have more total accuracy potential than the longer barrel with greater amplitude. But, in the real world, it's easier to find ammo to match the sweet spot (node) of longer barrel, or, more often in high precision applications, to actively tune the barrel to the lot of ammo.
So, most really high end rimfire target shooters do favor longer barrels (and tuners). But it's not for the reasons most people seem to believe (unless it's an iron sight discipline).
Centerfires with their much greater amplitude of barrel harmonics are a different story.
And none of this really means anything for us plinkers
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- DAA