Comparing Malmquist and HicksMoorsteen productivity indices: Exploring the impact of unbalanced vs. balanced panel data ?
Compare Malmquist and HicksMoorsteen productivity indices on several technologies. First test of impact of balancing unbalanced panel data. First test of ability of the Malmquist index to approximate the HicksMoorsteen index. Empirical differences show up between both indices due to unbalancedness. Malmquist index offers poor empirical approximation of HicksMoorsteen index.
balanced panel unbalanced panel malmquist productivity index hicksmoorsteen productivity index