Seminar
Frederic Ang: Assessing productivity using the Bennet-Bowley-Lowe indicator: An application to Welsh sheep farm
This article introduces the Bennet-Bowley-Lowe Total Factor Productivity (TFP) indicator. Our proposed measure is difference-based, determinate and additively complete in line with the Bennet-Bowley indicator, and inherits the transitivity property of the Lowe index.
The empirical application focuses on the Welsh sheep sector for the years 2001-2014. We also develop a framework to decompose all Bennet-Bowley-type TFP indicators into technical change, technical inefficiency change, scale inefficiency change and mix inefficiency change.