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Medición de cambios en productividad con indicador de Luenberger en el sector de seguros en Argentina a la salida de la crisis

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  • Gustavo Ferro

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

  • María Eugenia Labaronnie

    ()
    (Departamento de Contabilidad UADE - UADE)

  • Carlos A. Romero

    ()
    (Instituto de Economía UADE - UADE)

Abstract

A severe macroeconomic crisis resets economic sectors. This is so when the GDP growth rates move between great falls and important recoveries, and when relative prices vary importantly. The insurance sector in Argentina offers an interesting laboratory to explore with Luenberger Productivity Analysis what happened to a sector very sensitive to the macroeconomic performance, inflation and currency depreciation. The methodology was chosen because it confers flexibility, since presupposes profit maximization, on one hand, but do not constrain the orientation of the model (i.e., input-oriented, output-oriented), allowing to study productivity changes due to both, input and output adjustments. Moreover, we use output and input monetary measures (in constant values), aiming to increase the flexibility in the adjustment to higher profits. The results show according to different models a sector with scarce productivity growth or stagnated, with important variability between better and worse results. The indicator in use permits to split changes in efficiency and in technical change.

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Paper provided by HAL in its series Working Papers with number hal-00597947.

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Date of creation: 02 Jun 2011
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Handle: RePEc:hal:wpaper:hal-00597947

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  1. repec:idb:brikps:78866 is not listed on IDEAS
  2. 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.
  3. 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, vol. 55(4), pages 391-405, October.
  4. Fare, Rolf & Grosskopf, Shawna & Roos, Pontus, 1996. "On two definitions of productivity," Economics Letters, Elsevier, vol. 53(3), pages 269-274, December.
  5. 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, vol. 23(4), pages 925-939, May.
  6. Bjurek, Hans, 1996. " The Malmquist Total Factor Productivity Index," Scandinavian Journal of Economics, Wiley Blackwell, vol. 98(2), pages 303-13, June.
  7. Bert Balk & Rolf Färe & Shawna Grosskopf & Dimitris Margaritis, 2008. "Exact relations between Luenberger productivity indicators and Malmquist productivity indexes," Economic Theory, Springer, vol. 35(1), pages 187-190, April.
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