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Decomposition of the Fisher Ideal Index of Productivity: A Non-parametric Dual Analysis of US Airlines Data

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  • Ray, Subhash C
  • Mukherjee, Kankana

Abstract

In this paper, the authors offer a nonparametric method of decomposing the Fisher ideal index of productivity into individual factors measuring technical efficiency change, allocative efficiency change, shift in the cost function, scale economies due to output change, and an adjustment factor reflecting change in the output attributes. Cross-section data from the U.S. airline industry for the years 1983 and 1984 are utilized in an empirical application illustrating this method. Copyright 1996 by Royal Economic Society.

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Bibliographic Info

Article provided by Royal Economic Society in its journal The Economic Journal.

Volume (Year): 106 (1996)
Issue (Month): 439 (November)
Pages: 1659-78

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Handle: RePEc:ecj:econjl:v:106:y:1996:i:439:p:1659-78

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Cited by:
  1. Mukherjee, Kankana & Ray, Subhash C. & Miller, Stephen M., 2001. "Productivity growth in large US commercial banks: The initial post-deregulation experience," Journal of Banking & Finance, Elsevier, vol. 25(5), pages 913-939, May.
  2. Chen, Wen-Chih & McGinnis, Leon F., 2007. "Reconciling ratio analysis and DEA as performance assessment tools," European Journal of Operational Research, Elsevier, vol. 178(1), pages 277-291, April.
  3. C. O’Donnell, 2012. "An aggregate quantity framework for measuring and decomposing productivity change," Journal of Productivity Analysis, Springer, vol. 38(3), pages 255-272, December.
  4. Fung, Michael K., 2006. "Are labor-saving technologies lowering employment in the banking industry?," Journal of Banking & Finance, Elsevier, vol. 30(1), pages 179-198, January.
  5. Timo Kuosmanen & Timo Sipiläinen, 2009. "Exact decomposition of the Fisher ideal total factor productivity index," Journal of Productivity Analysis, Springer, vol. 31(3), pages 137-150, June.
  6. Lee, Chia-Yen & Johnson, Andrew L., 2012. "Two-dimensional efficiency decomposition to measure the demand effect in productivity analysis," European Journal of Operational Research, Elsevier, vol. 216(3), pages 584-593.
  7. Granderson, Gerald & Linvill, Carl, 1998. "Nonparametric measurement of productive efficiency in the presence of regulation," European Journal of Operational Research, Elsevier, vol. 110(3), pages 643-657, November.
  8. Fung, Michael K., 2006. "Scale economies, X-efficiency, and convergence of productivity among bank holding companies," Journal of Banking & Finance, Elsevier, vol. 30(10), pages 2857-2874, October.
  9. Walter Briec & Kristiaan Kerstens, 2008. "Infeasibility and Directional Distance Functions with Application to the Determinateness of the Luenberger Productivity Indicator," Working Papers 2008-ECO-11, IESEG School of Management.
  10. Subhash C. Ray, 2005. "Shadow Profit Maximization and a Generalized Measure of Inefficiency," Working papers 2005-14, University of Connecticut, Department of Economics.
  11. Arnab K. Deb & Subhash C. Ray, 2013. "Economic Reforms and Total Factor Productivity Growth of Indian Manufacturing: An Inter-State Analysis," Working papers 2013-04, University of Connecticut, Department of Economics, revised Apr 2013.

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