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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

Author

Listed:
  • Gustavo Ferro

    (INECO - Instituto de Economía [Buenos Aires] - CONICET - Consejo Nacional de Investigaciones Científicas y Técnicas [Buenos Aires] - Facultad de Ciencias Económicas - UADE - Universidad Argentina de la Empresa [Buenos Aires])

  • María Eugenia Labaronnie

    (Departamento de Contabilidad UADE - UADE - Universidad Argentina de la Empresa [Buenos Aires])

  • Carlos A. Romero

    (INECO - Instituto de Economía [Buenos Aires] - CONICET - Consejo Nacional de Investigaciones Científicas y Técnicas [Buenos Aires] - Facultad de Ciencias Económicas - UADE - Universidad Argentina de la Empresa [Buenos Aires])

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.

Suggested Citation

  • Gustavo Ferro & María Eugenia Labaronnie & Carlos A. Romero, 2011. "Medición de cambios en productividad con indicador de Luenberger en el sector de seguros en Argentina a la salida de la crisis," Working Papers hal-00597947, HAL.
    • Handle: RePEc:hal:wpaper:hal-00597947
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    References listed on IDEAS

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    1. Walter Briec & Kristiaan Kerstens & Nicolas Peypoch, 2012. "Exact Relations Between Four Definitions Of Productivity Indices And Indicators," Bulletin of Economic Research, Wiley Blackwell, vol. 64(2), pages 265-274, April.
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    4. Bert Balk & Rolf Färe & Shawna Grosskopf & Dimitris Margaritis, 2008. "Exact relations between Luenberger productivity indicators and Malmquist productivity indexes," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 35(1), pages 187-190, April.
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    Cited by:

    1. Gustavo Ferro & Sonia León, 2018. "A Stochastic Frontier Analysis of Efficiency in Argentina’s Non-Life Insurance Market," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 43(1), pages 158-174, January.
    2. Gustavo Ferro & Carlos A. Romero, 2011. "Comparación de medidas de cambio de productividad. Las aproximaciones de Malmquist y Luenberger en una aplicación al mercado de seguros," Working Papers hal-00597946, HAL.

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