Estimating the productivity of US agriculture: The Fisher total factor productivity index for time series data with unknown prices

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dc.citation.volumeEarly View
dc.contributor.authorNgo T
dc.contributor.authorTripe D
dc.contributor.authorNguyen DK
dc.date.accessioned2024-05-28T23:22:15Z
dc.date.available2024-05-28T23:22:15Z
dc.date.issued2024-05-10
dc.description.abstractIn this paper, we propose a straightforward way to estimate the Fisher ideal total factor productivity (TFP) index (FI) in cases where price information is unavailable, using ‘shadow prices’ derived from data envelopment analysis (DEA). A Monte Carlo experiment shows that the shadow price Fisher ideal TFP index (SPFI) can effectively estimate the ‘true’ FI with relatively small (and stable) errors. The empirical application to the US agriculture sector (1948–2017) further suggests that the SPFI is a (superior) alternative to the traditional Malmquist DEA, especially in dealing with unbalanced panel or time series data when price data are unknown.
dc.description.confidentialfalse
dc.format.pagination1-12
dc.identifier.citationNgo T, Tripe D, Nguyen DK. (2024). Estimating the productivity of US agriculture: The Fisher total factor productivity index for time series data with unknown prices. Australian Journal of Agricultural and Resource Economics. Early View. (pp. 1-12).
dc.identifier.doi10.1111/1467-8489.12565
dc.identifier.eissn1467-8489
dc.identifier.elements-typejournal-article
dc.identifier.issn1364-985X
dc.identifier.urihttps://mro.massey.ac.nz/handle/10179/69680
dc.languageEnglish
dc.publisherJohn Wiley and Sons Australia, Ltd on behalf of Australasian Agricultural and Resource Economics Society Inc.
dc.publisher.urihttps://onlinelibrary.wiley.com/doi/10.1111/1467-8489.12565
dc.relation.isPartOfAustralian Journal of Agricultural and Resource Economics
dc.rights(c) The author/sen
dc.rights.licenseCC BY-NC-NDen
dc.rights.urihttps://creativecommons.org/licenses/by-nc-nd/4.0/en
dc.subjectdata envelopment analysis
dc.subjectFisher index
dc.subjectMonte Carlo simulation
dc.subjecttotal factor productivity
dc.subjectUS agriculture
dc.titleEstimating the productivity of US agriculture: The Fisher total factor productivity index for time series data with unknown prices
dc.typeJournal article
pubs.elements-id488989
pubs.organisational-groupOther
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