M. Luptáčik - Academia.edu (original) (raw)

Papers by M. Luptáčik

AUCO Czech Economic …, 2008

The development of European technology platforms is a valuable building block of European science... more The development of European technology platforms is a valuable building block of European science and technology policy. Out of the range of technology platforms, seven technology fields were chosen and investigated for their potential impacts on selected ...

Empirica, 2014

ABSTRACT Recent discussions about the definition of growth in terms of welfare beyond GDP suggest... more ABSTRACT Recent discussions about the definition of growth in terms of welfare beyond GDP suggest that it is of urgent need to develop new approaches for measuring the economic performance of firms and national economies. The new concepts should simultaneously take into account economic as well as social and environmental goals. First we present several approaches to productivity measures. Then we extend the data envelopment analysis models with environment indicators in order to measure the so called eco-efficiency and social indicators to take into consideration social performance. For illustration, we perform the analysis of 30 European countries for the year 2010. The last section concerns itself with the possibilities of inter-temporal analysis of the proposed models and their use in ex-ante evaluation of different policy scenarios.

European Journal of Operational Research

The nonparametric data envelopment analysis (DEA) literature on environmental efficiency (EE) con... more The nonparametric data envelopment analysis (DEA) literature on environmental efficiency (EE) considers handling undesirable outputs in two alternative ways: either in their original forms with the assumption that these are weakly disposable or in various translated forms with the assumption that these are strongly disposable. Choosing a particular approach implies adoption of a particular, distinct treatment of undesirable outputs, and hence yields a distinct set of EE estimates. To explore the effects of the interplay between choice of EE measure and specific treatment of undesirable outputs, this paper attempts to generate all possible output-oriented EE measures based on these two alternative approaches. Furthermore, guided by the argument that slacks are important in identifying properly the efficiency behavior of firms, it proposes two new alternative, slacks-based formulations of EE: one based on the range directional model, and the other on the generalized proportional dista...

Ecological Economics, Jan 1, 2011

Based on the different models developed by Korhonen and Luptacik [Korhonen, P., Luptacik, M., 200... more Based on the different models developed by Korhonen and Luptacik [Korhonen, P., Luptacik, M., 2004. Eco-efficiency analysis of power plants: An extension of data envelopment analysis. European Journal of Operational Research 154, 437–46], this contribution centers on the development of an intertemporal comparison in order to analyze eco-efficiency change over time. In this setup two model variants by Korhonen and Luptacik (2004) are used in order to provide deeper insights concerning the driving forces for the change in the eco-efficiency. Which bias in technical change can be observed? Is it more input-saving or pollution-reducing? For illustration purposes the proposed approach is used to analyze the performance of 14 countries of the European Union for the period 1995–2004. An average eco-productivity growth of 22% is observed. The estimated contribution of improved use of input is 20% and that of reduced relation of greenhouse gas emissions is 23%. Therefore it is concluded that, on average, the eco-productivity growth is more driven by improved environmental conditions.

European Journal of Operational …, Jan 1, 2011

The nonparametric data envelopment analysis (DEA) literature on environmental efficiency (EE) con... more The nonparametric data envelopment analysis (DEA) literature on environmental efficiency (EE) considers handling undesirable outputs in two alternative ways: either in their original forms with the assumption that these are weakly disposable or in various translated forms with the assumption that these are strongly disposable. Choosing a particular approach implies adoption of a particular, distinct treatment of undesirable outputs, and hence yields a distinct set of EE estimates. To explore the effects of the interplay between choice of EE measure and specific treatment of undesirable outputs, this paper attempts to generate all possible output-oriented EE measures based on these two alternative approaches. Furthermore, guided by the argument that slacks are important in identifying properly the efficiency behavior of firms, it proposes two new alternative, slacks-based formulations of EE: one based on the range directional model, and the other on the generalized proportional distance function model. Using a confected data set of ten firms and a real-life data set of 22 OECD countries, our empirical analysis reveals that: first, EE scores are influenced not only by the choice of disposability assumption for undesirable outputs but also by the way these are treated in various translated forms; second, the choice of any particular treatment of undesirable outputs plays no role in influencing the rankings of firms; and third, our two new alternative EE formulations are, at the least, viable alternatives to existing EE measures in ranking firms according to their eco-efficiency behavior.

Ecological Economics, 2011

Based on the different models developed by Korhonen and Luptacik [Korhonen, P., Luptacik, M., 200... more Based on the different models developed by Korhonen and Luptacik [Korhonen, P., Luptacik, M., 2004. Eco-efficiency analysis of power plants: An extension of data envelopment analysis. European Journal of Operational Research 154, 437–46], this contribution centers on the development of an intertemporal comparison in order to analyze eco-efficiency change over time. In this setup two model variants by Korhonen and Luptacik (2004) are used in order to provide deeper insights concerning the driving forces for the ...

European Journal of Operational Research, 2011

The nonparametric data envelopment analysis (DEA) literature on environmental efficiency (EE) con... more The nonparametric data envelopment analysis (DEA) literature on environmental efficiency (EE) considers handling undesirable outputs in two alternative ways: either in their original forms with the assumption that these are weakly disposable or in various translated forms with the assumption that these are strongly disposable. Choosing a particular approach implies adoption of a particular, distinct treatment of undesirable outputs, and

Springer Optimization and Its Applications, 2009

Springer Optimization and Its Applications, 2009

Springer Optimization and Its Applications, 2009

ABSTRACT In all of the mathematical programming problems considered thus far, we have assumed tha... more ABSTRACT In all of the mathematical programming problems considered thus far, we have assumed that one particular objective function, such as the maximization of profit or minimization of cost, was prespecified by some decision maker. In general, however, there exist a large variety of objectives—including maximizing profit, revenue, and market share; increasing environmental quality; etc. Zeleny [89, p. 1] states that “multiple objectives are all around us.” There are some empirical studies supporting this hypothesis. Smith, Boyes, and Peseau [70] found that for 557 large U.S. firms, sales revenue and profits were objectives followed by the firms. Beedles [6] used time series data for the time period 1929–1973 for three large firms and showed that the firms pursued sales revenue, profits, and stock price as their objectives.

Springer Optimization and Its Applications, 2009

Springer Optimization and Its Applications, 2009

Springer Optimization and Its Applications, 2009

Springer Optimization and Its Applications, 2009

In this chapter, necessary conditions for optimality of solution points in mathematical programmi... more In this chapter, necessary conditions for optimality of solution points in mathematical programming problems will be studied. Because of the orientation of this book to present optimization theory as an instrument for qualitative economic analysis, the theory to be described is not immediately concerned with computational aspects of solution techniques, which can be found in many excellent books on mathematical programming, e.g., .

Springer Optimization and Its Applications, 2009

Springer Optimization and Its Applications, 2010

SSRN Electronic Journal, 2000

Neoclassical growth accounting is a methodology used to measure the contribution of different pro... more Neoclassical growth accounting is a methodology used to measure the contribution of different production factors to economic growth and to indirectly compute the rate of technological progress. This model assumes constant returns to scale and perfectly competitive factor markets, which implies that factor prices are equal to marginal products -something that is only satisfied if factor markets are cleared, and external effects and distortions are absent. However, these conditions are usually not satisfied in real economies. Moreover, growth accounting assumes efficiency on factor and commodity markets, and consequently does not distinguish between efficiency change and technical change. In this paper, we estimate total factor productivity growth without recourse to data on factor input shares or prices. In the proposed model, the economy is represented by the Leontief input-output model, which is extended by the constraints of primary inputs. A Luenberger productivity indicator is proposed to estimate productivity change over time; this is then decomposed in a way that enables us to examine the contributions of individual production factors and individual outputs to productivity change. The results allow the inference of which inputs or outputs of an economy are the drivers of the overall productivity change-this is then decomposed into efficiency change and technical change components. Using input-output tables of the US economy for the period 1977 to 2006, we show that technical progress is the main source of productivity change. Technical progress, in turn, is mostly driven by capital whereas low-skilled labor contributes negatively.

Lecture Notes in Economics and Mathematical Systems, 1989

Journal of Optimization Theory and Applications, 1987

This paper deals with the problem of finding optimal hiring/firing and wage policies for a profit... more This paper deals with the problem of finding optimal hiring/firing and wage policies for a profit-maximizing monopolistic firm. The crucial assumptions of the model are convex shortage costs permitting shortages in output capacity, nonlinear hiring and firing costs, and the wage rate as control variable being restricted by a minimal level. Due to the nonsmoothness of the revenue function occurring in the objective functional, a generalized maximum principle is required to analyze the optimal control problem. The resulting phase-diagram analysis provides an insight into the optimal recruitment, wage, and pricing policies.

Journal of Economics Zeitschrift für Nationalökonomie, 1998

The reduction of government debt to 60% of the GDP in order to satisfy the requirements of the Ma... more The reduction of government debt to 60% of the GDP in order to satisfy the requirements of the Maastricht Treaty for participation in the European Monetary Union is one of the primary economic-policy goals for most of the European Union countries. The first aim of the present paper is to characterize the optimal path of the primary surplus that leads to the achievement of this Maastricht target. Using optimal-control theory we are able to determine an upper bound of the public-debt-to-GDP ratio above which no retrenchment policy becomes effective. The second issue taken up is that of the sensitivity analysis with respect to the initial level of the debt-to-GDP ratio, the growth rate of the economy, the interest rate, the inflation rate, and the inverse of the velocity of the monetary base circulation.

AUCO Czech Economic …, 2008

The development of European technology platforms is a valuable building block of European science... more The development of European technology platforms is a valuable building block of European science and technology policy. Out of the range of technology platforms, seven technology fields were chosen and investigated for their potential impacts on selected ...

Empirica, 2014

ABSTRACT Recent discussions about the definition of growth in terms of welfare beyond GDP suggest... more ABSTRACT Recent discussions about the definition of growth in terms of welfare beyond GDP suggest that it is of urgent need to develop new approaches for measuring the economic performance of firms and national economies. The new concepts should simultaneously take into account economic as well as social and environmental goals. First we present several approaches to productivity measures. Then we extend the data envelopment analysis models with environment indicators in order to measure the so called eco-efficiency and social indicators to take into consideration social performance. For illustration, we perform the analysis of 30 European countries for the year 2010. The last section concerns itself with the possibilities of inter-temporal analysis of the proposed models and their use in ex-ante evaluation of different policy scenarios.

European Journal of Operational Research

The nonparametric data envelopment analysis (DEA) literature on environmental efficiency (EE) con... more The nonparametric data envelopment analysis (DEA) literature on environmental efficiency (EE) considers handling undesirable outputs in two alternative ways: either in their original forms with the assumption that these are weakly disposable or in various translated forms with the assumption that these are strongly disposable. Choosing a particular approach implies adoption of a particular, distinct treatment of undesirable outputs, and hence yields a distinct set of EE estimates. To explore the effects of the interplay between choice of EE measure and specific treatment of undesirable outputs, this paper attempts to generate all possible output-oriented EE measures based on these two alternative approaches. Furthermore, guided by the argument that slacks are important in identifying properly the efficiency behavior of firms, it proposes two new alternative, slacks-based formulations of EE: one based on the range directional model, and the other on the generalized proportional dista...

Ecological Economics, Jan 1, 2011

Based on the different models developed by Korhonen and Luptacik [Korhonen, P., Luptacik, M., 200... more Based on the different models developed by Korhonen and Luptacik [Korhonen, P., Luptacik, M., 2004. Eco-efficiency analysis of power plants: An extension of data envelopment analysis. European Journal of Operational Research 154, 437–46], this contribution centers on the development of an intertemporal comparison in order to analyze eco-efficiency change over time. In this setup two model variants by Korhonen and Luptacik (2004) are used in order to provide deeper insights concerning the driving forces for the change in the eco-efficiency. Which bias in technical change can be observed? Is it more input-saving or pollution-reducing? For illustration purposes the proposed approach is used to analyze the performance of 14 countries of the European Union for the period 1995–2004. An average eco-productivity growth of 22% is observed. The estimated contribution of improved use of input is 20% and that of reduced relation of greenhouse gas emissions is 23%. Therefore it is concluded that, on average, the eco-productivity growth is more driven by improved environmental conditions.

European Journal of Operational …, Jan 1, 2011

The nonparametric data envelopment analysis (DEA) literature on environmental efficiency (EE) con... more The nonparametric data envelopment analysis (DEA) literature on environmental efficiency (EE) considers handling undesirable outputs in two alternative ways: either in their original forms with the assumption that these are weakly disposable or in various translated forms with the assumption that these are strongly disposable. Choosing a particular approach implies adoption of a particular, distinct treatment of undesirable outputs, and hence yields a distinct set of EE estimates. To explore the effects of the interplay between choice of EE measure and specific treatment of undesirable outputs, this paper attempts to generate all possible output-oriented EE measures based on these two alternative approaches. Furthermore, guided by the argument that slacks are important in identifying properly the efficiency behavior of firms, it proposes two new alternative, slacks-based formulations of EE: one based on the range directional model, and the other on the generalized proportional distance function model. Using a confected data set of ten firms and a real-life data set of 22 OECD countries, our empirical analysis reveals that: first, EE scores are influenced not only by the choice of disposability assumption for undesirable outputs but also by the way these are treated in various translated forms; second, the choice of any particular treatment of undesirable outputs plays no role in influencing the rankings of firms; and third, our two new alternative EE formulations are, at the least, viable alternatives to existing EE measures in ranking firms according to their eco-efficiency behavior.

Ecological Economics, 2011

Based on the different models developed by Korhonen and Luptacik [Korhonen, P., Luptacik, M., 200... more Based on the different models developed by Korhonen and Luptacik [Korhonen, P., Luptacik, M., 2004. Eco-efficiency analysis of power plants: An extension of data envelopment analysis. European Journal of Operational Research 154, 437–46], this contribution centers on the development of an intertemporal comparison in order to analyze eco-efficiency change over time. In this setup two model variants by Korhonen and Luptacik (2004) are used in order to provide deeper insights concerning the driving forces for the ...

European Journal of Operational Research, 2011

The nonparametric data envelopment analysis (DEA) literature on environmental efficiency (EE) con... more The nonparametric data envelopment analysis (DEA) literature on environmental efficiency (EE) considers handling undesirable outputs in two alternative ways: either in their original forms with the assumption that these are weakly disposable or in various translated forms with the assumption that these are strongly disposable. Choosing a particular approach implies adoption of a particular, distinct treatment of undesirable outputs, and

Springer Optimization and Its Applications, 2009

Springer Optimization and Its Applications, 2009

Springer Optimization and Its Applications, 2009

ABSTRACT In all of the mathematical programming problems considered thus far, we have assumed tha... more ABSTRACT In all of the mathematical programming problems considered thus far, we have assumed that one particular objective function, such as the maximization of profit or minimization of cost, was prespecified by some decision maker. In general, however, there exist a large variety of objectives—including maximizing profit, revenue, and market share; increasing environmental quality; etc. Zeleny [89, p. 1] states that “multiple objectives are all around us.” There are some empirical studies supporting this hypothesis. Smith, Boyes, and Peseau [70] found that for 557 large U.S. firms, sales revenue and profits were objectives followed by the firms. Beedles [6] used time series data for the time period 1929–1973 for three large firms and showed that the firms pursued sales revenue, profits, and stock price as their objectives.

Springer Optimization and Its Applications, 2009

Springer Optimization and Its Applications, 2009

Springer Optimization and Its Applications, 2009

Springer Optimization and Its Applications, 2009

In this chapter, necessary conditions for optimality of solution points in mathematical programmi... more In this chapter, necessary conditions for optimality of solution points in mathematical programming problems will be studied. Because of the orientation of this book to present optimization theory as an instrument for qualitative economic analysis, the theory to be described is not immediately concerned with computational aspects of solution techniques, which can be found in many excellent books on mathematical programming, e.g., .

Springer Optimization and Its Applications, 2009

Springer Optimization and Its Applications, 2010

SSRN Electronic Journal, 2000

Neoclassical growth accounting is a methodology used to measure the contribution of different pro... more Neoclassical growth accounting is a methodology used to measure the contribution of different production factors to economic growth and to indirectly compute the rate of technological progress. This model assumes constant returns to scale and perfectly competitive factor markets, which implies that factor prices are equal to marginal products -something that is only satisfied if factor markets are cleared, and external effects and distortions are absent. However, these conditions are usually not satisfied in real economies. Moreover, growth accounting assumes efficiency on factor and commodity markets, and consequently does not distinguish between efficiency change and technical change. In this paper, we estimate total factor productivity growth without recourse to data on factor input shares or prices. In the proposed model, the economy is represented by the Leontief input-output model, which is extended by the constraints of primary inputs. A Luenberger productivity indicator is proposed to estimate productivity change over time; this is then decomposed in a way that enables us to examine the contributions of individual production factors and individual outputs to productivity change. The results allow the inference of which inputs or outputs of an economy are the drivers of the overall productivity change-this is then decomposed into efficiency change and technical change components. Using input-output tables of the US economy for the period 1977 to 2006, we show that technical progress is the main source of productivity change. Technical progress, in turn, is mostly driven by capital whereas low-skilled labor contributes negatively.

Lecture Notes in Economics and Mathematical Systems, 1989

Journal of Optimization Theory and Applications, 1987

This paper deals with the problem of finding optimal hiring/firing and wage policies for a profit... more This paper deals with the problem of finding optimal hiring/firing and wage policies for a profit-maximizing monopolistic firm. The crucial assumptions of the model are convex shortage costs permitting shortages in output capacity, nonlinear hiring and firing costs, and the wage rate as control variable being restricted by a minimal level. Due to the nonsmoothness of the revenue function occurring in the objective functional, a generalized maximum principle is required to analyze the optimal control problem. The resulting phase-diagram analysis provides an insight into the optimal recruitment, wage, and pricing policies.

Journal of Economics Zeitschrift für Nationalökonomie, 1998

The reduction of government debt to 60% of the GDP in order to satisfy the requirements of the Ma... more The reduction of government debt to 60% of the GDP in order to satisfy the requirements of the Maastricht Treaty for participation in the European Monetary Union is one of the primary economic-policy goals for most of the European Union countries. The first aim of the present paper is to characterize the optimal path of the primary surplus that leads to the achievement of this Maastricht target. Using optimal-control theory we are able to determine an upper bound of the public-debt-to-GDP ratio above which no retrenchment policy becomes effective. The second issue taken up is that of the sensitivity analysis with respect to the initial level of the debt-to-GDP ratio, the growth rate of the economy, the interest rate, the inflation rate, and the inverse of the velocity of the monetary base circulation.