The dynamic Luenberger-Hicks-Moorsteen productivity indicator with an application to dairy farms in South West England

Frederic Ang and Pieter Kerstens

No 258636, 91st Annual Conference, April 24-26, 2017, Royal Dublin Society, Dublin, Ireland from Agricultural Economics Society

Abstract: This paper introduces a dynamic Luenberger-Hicks-Moorsteen (LHM) productivity indicator that takes into account the adjustment costs of changing the level of quasi-fixed capital inputs. Being additively complete in the dynamic sense, the LHM indicator is decomposed into contributions of outputs, variable inputs and investments in dynamic factors. Moreover, we decompose the LHM indicator into technical change, technical inefficiency change and scale ineffi- ciency change using an investment-, output- and input-direction. Employing a nonparametric framework, the empirical application focuses on the dairy sector in South West England over the period 2001 − 2014.

Keywords: Farm Management; Productivity Analysis; Research Methods/ Statistical Methods (search for similar items in EconPapers)
Pages: 17
Date: 2017-04-25
New Economics Papers: this item is included in nep-eff
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://ageconsearch.umn.edu/record/258636/files/Frederic_Ang_dynlhmAES.pdf (application/pdf)

Related works:
Working Paper: The Dynamic Luenberger-Hicks-Moorsteen Productivity Indicator With An Application To Dairy Farms In South West England (2017)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ags:aesc17:258636

DOI: 10.22004/ag.econ.258636

Access Statistics for this paper

More papers in 91st Annual Conference, April 24-26, 2017, Royal Dublin Society, Dublin, Ireland from Agricultural Economics Society Contact information at EDIRC.
Bibliographic data for series maintained by AgEcon Search ().