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On the Aggregation of the Paasche and Laspeyres Malmquist Indexes

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Abstract

In their recent article, Diewert and Fox (2017), proposed what appears to be the first time a theoretical justification for the geometric average form of the Bjurek productivity index (also known as Hicks-Moorsteen productivity index). The goal of this note is to provide another theoretical justification. We focus on the Malmquist input quantity indexes, a component of the Hicks-Moorsteen-Bjurek index.

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  • Rolf Färe & Valentin Zelenyuk, 2019. "On the Aggregation of the Paasche and Laspeyres Malmquist Indexes," CEPA Working Papers Series WP122019, School of Economics, University of Queensland, Australia.
    • Handle: RePEc:qld:uqcepa:142
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    File URL: https://economics.uq.edu.au/files/17059/WP122019.pdf
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    References listed on IDEAS

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    1. Rolf Fare & Valentin Zelenyuk, 2005. "On Farrell's Decomposition and Aggregation," International Journal of Business and Economics, School of Management Development, Feng Chia University, Taichung, Taiwan, vol. 4(2), pages 167-171, August.
    2. Antonio Peyrache, 2013. "Multilateral productivity comparisons and homotheticity," Journal of Productivity Analysis, Springer, vol. 40(1), pages 57-65, August.
    3. Balk,Bert M., 2012. "Price and Quantity Index Numbers," Cambridge Books, Cambridge University Press, number 9781107404960, January.
    4. Chambers,Robert G., 1988. "Applied Production Analysis," Cambridge Books, Cambridge University Press, number 9780521314275, January.
    5. Färe, Rolf & Zelenyuk, Valentin, 2019. "On Luenberger input, output and productivity indicators," Economics Letters, Elsevier, vol. 179(C), pages 72-74.
    6. Diewert, W. Erwin & Fox, Kevin J., 2017. "Decomposing productivity indexes into explanatory factors," European Journal of Operational Research, Elsevier, vol. 256(1), pages 275-291.
    7. Caves, Douglas W & Christensen, Laurits R & Diewert, W Erwin, 1982. "The Economic Theory of Index Numbers and the Measurement of Input, Output, and Productivity," Econometrica, Econometric Society, vol. 50(6), pages 1393-1414, November.
    8. Sickles,Robin C. & Zelenyuk,Valentin, 2019. "Measurement of Productivity and Efficiency," Cambridge Books, Cambridge University Press, number 9781107036161, January.
    9. Chambers Robert G. & Fare Rolf, 1994. "Hicks' Neutrality and Trade Biased Growth: A Taxonomy," Journal of Economic Theory, Elsevier, vol. 64(2), pages 554-567, December.
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    More about this item

    Keywords

    Paasche; Laspeyres; Malmquist; Hicks-Moorsteen-Bjurek Productivity Indexes.;
    All these keywords.

    JEL classification:

    • C43 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Index Numbers and Aggregation
    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity

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