Distance Functions and Generalized Means: Duality and Taxonomy
In: JME-D-22-00390
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In: JME-D-22-00390
SSRN
In: Bulletin of economic research, Band 74, Heft 2, S. 484-502
ISSN: 1467-8586
ABSTRACTWe introduce well‐known microeconomics productivity measures in Solow models in discrete time or continuous time by adopting a Luenberger‐type approach. In each framework, we derive the productivity indicators and the dynamical paths. First, we show that the expression of the productivity indicators are similar to the well‐known Solow residuals, allowing us to make an analogy between a firm's behavior in a microeconomic setting and a country's behavior in a macroeconomic setting. Second, we demonstrate that the properties of the paths are similar in both frameworks.
SSRN
Working paper
In: The Manchester School, Band 79, Heft 4, S. 765-775
In: Journal of economic dynamics & control, Band 34, Heft 4, S. 636-656
ISSN: 0165-1889
In: Journal of economics, Band 92, Heft 3, S. 281-292
ISSN: 1617-7134
In: Economica, Band 86, Heft 344, S. 832-853
SSRN
In: Economica, Band 86, Heft 344, S. 832-853
ISSN: 1468-0335
This paper investigates the economics of uncertainty using a state‐contingent approach with a focus on the role of non‐convexity. Under efficiency, the slopes of a separating hypersurface measures state‐contingent prices. As argued by Yaari, normalized state‐contingent prices provide a measure of subjective probabilities. But efficiency under non‐convexity can require non‐linear pricing. The analysis identifies non‐convexity conditions under which probability assessments are not appropriate. Implications for economic and welfare analysis under uncertainty are discussed.
In: Mathematical social sciences, Band 113, S. 181-190
In: Bulletin of economic research, Band 64, Heft 2, S. 265-274
ISSN: 1467-8586
ABSTRACTGeneralizing earlier approximation results, we establish exact relations between the Luenberger productivity indicator and the Malmquist productivity index under rather mild assumptions. Furthermore, we show that similar exact relations can be established between the Luenberger–Hicks–Moorsteen indicator and the Hicks–Moorsteen index.
In: Journal of economics, Band 79, Heft 3, S. 237-261
ISSN: 1617-7134
In: Journal of economics, Band 125, Heft 3, S. 279-308
ISSN: 1617-7134
In: Journal of economics, Band 106, Heft 3, S. 267-282
ISSN: 1617-7134
In: Applied Economics, S. 2321-2330
Production frontiers for the manufacturing sector are estimated to determine a "country specific" catching-up
process of Total Factor Productivity (TFP).TFP gains were aimed at assessing the manufacturing industry's productive performances for 14 OECD countries over the period between 1970-2001. Our TFP measure does not assume technical or allocative efficiency which are inherent drawbacks of usual TFP indices. We show that catching-up processes can be very different between sub-periods and across countries. A significant catching-up process was in progress in the manufacturing sector between 1970 and 1986 then it overturned over the period 1987-2001. During the first sub-period, the speed of technological catching-up of the euro-zone countries was definitely higher than those of the other European or OECD nations whereas the divergence noted in second subperiod
had the same order of magnitude amongst the three groups..
In: Journal of economics, Band 87, Heft 3, S. 307-308
ISSN: 1617-7134