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An Aggregation Paradigm for Hicks-Moorsteen Productivity Indexes

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Abstract

In this paper we consider the problem of aggregation of Hicks-Moorsteen productivity indexes. The aggregate indexes are derived in a manner which is justified by economic theory, consistent with previous aggregation results, and maintains analogous decompositions to the original measures. These aggregate Hicks-Moorsteen productivity indexes allow researchers to consider the change in group productivity over time, with and without allowing full reallocation of inputs and outputs. We illustrate these indexes with an application to the productivity of countries, demonstrating the difference between the group index and the frequently used simple average.

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  • Andreas Mayer & Valentin Zelenyuk, 2014. "An Aggregation Paradigm for Hicks-Moorsteen Productivity Indexes," CEPA Working Papers Series WP012014, School of Economics, University of Queensland, Australia.
  • Handle: RePEc:qld:uqcepa:92
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    File URL: http://www.uq.edu.au/economics/cepa/docs/WP/WP012014.pdf
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    1. Mayer, Andreas & Zelenyuk, Valentin, 2014. "Aggregation of Malmquist productivity indexes allowing for reallocation of resources," European Journal of Operational Research, Elsevier, vol. 238(3), pages 774-785.
    2. Léopold Simar & Paul Wilson, 2011. "Inference by the m out of n bootstrap in nonparametric frontier models," Journal of Productivity Analysis, Springer, vol. 36(1), pages 33-53, August.
    3. Bjurek, Hans, 1996. " The Malmquist Total Factor Productivity Index," Scandinavian Journal of Economics, Wiley Blackwell, vol. 98(2), pages 303-313, June.
    4. Zelenyuk, Valentin, 2015. "Aggregation of scale efficiency," European Journal of Operational Research, Elsevier, vol. 240(1), pages 269-277.
    5. Zelenyuk, Valentin, 2006. "Aggregation of Malmquist productivity indexes," European Journal of Operational Research, Elsevier, vol. 174(2), pages 1076-1086, October.
    6. Alexandra Daskovska & Léopold Simar & Sébastien Bellegem, 2010. "Forecasting the Malmquist productivity index," Journal of Productivity Analysis, Springer, vol. 33(2), pages 97-107, April.
    7. Charles Blackorby & R. Russell, 1999. "Aggregation of Efficiency Indices," Journal of Productivity Analysis, Springer, vol. 12(1), pages 5-20, August.
    8. Léopold Simar & Valentin Zelenyuk, 2007. "Statistical inference for aggregates of Farrell-type efficiencies," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 22(7), pages 1367-1394.
    9. Forsund, Finn R & Hjalmarsson, Lennart, 1979. "Generalised Farrell Measures of Efficiency: An Application to Milk Processing in Swedish Dairy Plants," Economic Journal, Royal Economic Society, vol. 89(354), pages 294-315, June.
    10. Charnes, A. & Cooper, W. W. & Rhodes, E., 1978. "Measuring the efficiency of decision making units," European Journal of Operational Research, Elsevier, vol. 2(6), pages 429-444, November.
    11. Tsybakov, A.B. & Korostelev, A.P. & Simar, L., 1992. "Efficient Estimation of Monotone Boundaries," Papers 9209, Catholique de Louvain - Institut de statistique.
    12. Simar, Leopold & Wilson, Paul W., 1999. "Estimating and bootstrapping Malmquist indices," European Journal of Operational Research, Elsevier, vol. 115(3), pages 459-471, June.
    13. Vladimir Nesterenko & Valentin Zelenyuk, 2007. "Measuring potential gains from reallocation of resources," Journal of Productivity Analysis, Springer, vol. 28(1), pages 107-116, October.
    14. Fare, Rolf & Zelenyuk, Valentin, 2003. "On aggregate Farrell efficiencies," European Journal of Operational Research, Elsevier, vol. 146(3), pages 615-620, May.
    15. Subodh Kumar & R. Robert Russell, 2002. "Technological Change, Technological Catch-up, and Capital Deepening: Relative Contributions to Growth and Convergence," American Economic Review, American Economic Association, vol. 92(3), pages 527-548, June.
    16. Christopher J. O'Donnell, 2012. "Nonparametric Estimates of the Components of Productivity and Profitability Change in U.S. Agriculture," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 94(4), pages 873-890.
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    Cited by:

    1. Andreas Mayer & Valentin Zelenyuk, 2018. "Aggregation of Individual Efficiency Measures and Productivity Indices," CEPA Working Papers Series WP012018, School of Economics, University of Queensland, Australia.
    2. repec:eee:jomega:v:75:y:2018:i:c:p:1-12 is not listed on IDEAS
    3. Bert M. Balk, 2016. "Various Approaches to the Aggregation of Economic Productivity Indices," Pacific Economic Review, Wiley Blackwell, vol. 21(4), pages 445-463, October.

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