Circularity of the Malmquist Productivity Index

Pastor, Jesús T. and Lovell, C. A. Knox (2007) Circularity of the Malmquist Productivity Index. Economic Theory, 33 3: 591-599. doi:10.1007/s00199-006-0169-4

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Author Pastor, Jesús T.
Lovell, C. A. Knox
Title Circularity of the Malmquist Productivity Index
Journal name Economic Theory   Check publisher's open access policy
ISSN 0938-2259
Publication date 2007-12
Year available 2007
Sub-type Article (original research)
DOI 10.1007/s00199-006-0169-4
Volume 33
Issue 3
Start page 591
End page 599
Total pages 9
Place of publication Heidelberg, Germany
Publisher Springer Berlin
Language eng
Subject 14 Economics
1403 Econometrics
Abstract The geometric mean version of the Malmquist productivity index does not satisfy the circular test, and its component adjacent period indexes can give different productivity change measures for the same data. A fixed-base version of the index solves both problems, but it is not independent of the base period. It has been argued that time-neutrality of technical change is necessary and sufficient for all three properties to hold. We show that time-neutrality is sufficient, but not necessary, for all three properties. We develop a weaker version of time-neutrality that is necessary and sufficient for all three properties to hold.
Keyword Malmquist productivity index
Q-Index Code C1
Institutional Status Non-UQ

Document type: Journal Article
Sub-type: Article (original research)
Collections: Excellence in Research Australia (ERA) - Collection
School of Economics Publications
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Citation counts: TR Web of Science Citation Count  Cited 12 times in Thomson Reuters Web of Science Article | Citations
Scopus Citation Count Cited 16 times in Scopus Article | Citations
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Created: Tue, 15 Dec 2009, 10:04:35 EST by Macushla Boyle on behalf of Faculty of Business, Economics & Law