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Comparación de medidas de cambio de productividad. Las aproximaciones de Malmquist y Luenberger en una aplicación al mercado de seguros

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  • Gustavo Ferro

    ()
    (Instituto de Economía UADE and CONICET - FACE UADE)

  • Carlos A. Romero

    ()
    (Instituto de Economía UADE - UADE)

Abstract

The objective of this paper is to present advances in productivity measures through index numbers and indicators, as well as to provide an example centered in the Argentinean insurance sector in recent years. The methodologies to estimate productivity changes by means of Malmquist Indexes and Luenberger Indicators are formally presented, and an empirical comparison is made to illustrate on their theoretical differences. In doing so, information of the insurance market in Argentina is used; the choice of the sector is not casual: its an atomized market, where regulation do not set output, and where it is also flexibility to modify the input mix. Of the results, we can conjecture that: 1) in samples where the variability of the efficiency is high, the approximate comparisons could be affected, and 2) between less efficient units it is hard to make comparisons between indicators.

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Paper provided by HAL in its series Working Papers with number hal-00597946.

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Date of creation: 02 Jun 2011
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Handle: RePEc:hal:wpaper:hal-00597946

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  1. J. David Cummins & Mary A. Weiss, 1998. "Analyzing Firm Performance in the Insurance Industry Using Frontier Efficiency Methods," Center for Financial Institutions Working Papers, Wharton School Center for Financial Institutions, University of Pennsylvania 98-22, Wharton School Center for Financial Institutions, University of Pennsylvania.
  2. Fare, Rolf & Grosskopf, Shawna & Roos, Pontus, 1996. "On two definitions of productivity," Economics Letters, Elsevier, Elsevier, vol. 53(3), pages 269-274, December.
  3. Bjurek, Hans, 1996. " The Malmquist Total Factor Productivity Index," Scandinavian Journal of Economics, Wiley Blackwell, Wiley Blackwell, vol. 98(2), pages 303-13, June.
  4. Walter Briec & Kristiaan Kerstens, 2004. "A Luenberger-Hicks-Moorsteen productivity indicator: its relation to the Hicks-Moorsteen productivity index and the Luenberger productivity indicator," Economic Theory, Springer, Springer, vol. 23(4), pages 925-939, May.
  5. Jean-Philippe Boussemart & Walter Briec & Kristiaan Kerstens & Jean-Christophe Poutineau, 2003. "Luenberger and Malmquist Productivity Indices: Theoretical Comparisons and Empirical Illustration," Bulletin of Economic Research, Wiley Blackwell, Wiley Blackwell, vol. 55(4), pages 391-405, October.
  6. R. D. Banker & A. Charnes & W. W. Cooper, 1984. "Some Models for Estimating Technical and Scale Inefficiencies in Data Envelopment Analysis," Management Science, INFORMS, INFORMS, vol. 30(9), pages 1078-1092, September.
  7. Walter Briec & Kristiaan Kerstens & Nicolas Peypoch, 2009. "Exact Relations between Four De?nitions of Productivity Indices and Indicators," Working Papers 2009-ECO-07, IESEG School of Management.
  8. Martin Eling & Michael Luhnen, 2010. "Frontier Efficiency Methodologies to Measure Performance in the Insurance Industry: Overview, Systematization, and Recent Developments," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan, vol. 35(2), pages 217-265, April.
  9. Bert Balk & Rolf Färe & Shawna Grosskopf & Dimitris Margaritis, 2008. "Exact relations between Luenberger productivity indicators and Malmquist productivity indexes," Economic Theory, Springer, Springer, vol. 35(1), pages 187-190, April.
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