A Luenberger-Hicks-Moorsteen productivity indicator: its relation to the Hicks-Moorsteen productivity index and the Luenberger productivity indicator

Walter Briec () and Kristiaan Kerstens
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Walter Briec: UPVD - Université de Perpignan Via Domitia

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Abstract: Introducing a new difference-based Luenberger-Hicks-Moorsteen productivity indicator, this contribution establishes theoretically its relations with some existing ratio- and difference-based productivity indexes and indicators. The first main result is an approximation proposition stating that the logarithm of the Hicks-Moorsteen productivity index is about equal to the Luenberger-Hicks-Moorsteen productivity indicator. Secondly, we also establish the specific conditions under which the Luenberger-Hicks-Moorsteen indicator equals the recently introduced Luenberger indicator and compare these to the conditions governing the relations between ratio-based Hicks-Moorsteen and Malmquist indices.

Date: 2004-05-01
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Published in Economic Theory, 2004, 23 (4), pp.925-939

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-05623517

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