Luenberger and Malmquist productivity indices in Japan, 1955-1995
The Luenberger productivity index can simultaneously contract inputs and expand outputs, and is dual to profit maximization. The index is a generalization of the Malmquist productivity index, which is commonly used in productivity studies. Both the Luenberger and Malmquist productivity indices are applied to the prefectural level data in Japan over 1955-1995. If profit maximization assumption is more appropriate than revenue maximization, Malmquist productivity index overestimates productivity changes, since it provides nearly twice growth rate compared to the rate given by the Luenberger productivity index.
Volume (Year): 10 (2003)
Issue (Month): 9 ()
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- Luenberger, David G., 1992. "Benefit functions and duality," Journal of Mathematical Economics, Elsevier, vol. 21(5), pages 461-481.
- "Fukao, Kyoji" & "Yue, Ximing", 2000. "Regional Factor Inputs and Convergence in Japan―How Much Can We Apply Closed Economy Neoclassical Growth Models?―," Economic Review, Hitotsubashi University, vol. 51(2), pages 136-151, April.
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- 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.
- Jean-Christophe Poutineau & W. Briec & J.-P. Boussemart & Kristiaan Kerstens, 2003. "Luenberger and Malmquist Productivity Indices: Theoretical Comparisons and Empirical Illustration," Post-Print halshs-00068813, HAL.
- Robert G. Chambers, 2002. "Exact nonradial input, output, and productivity measurement," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 20(4), pages 751-765.
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