Macroeconomics and Market Power: Context, Implications, and Open Questions

This article assesses several aspects of recent macroeconomic market power research. These include the ways market power is defined and measured; the use of accounting data to estimate markups; the quantitative implications of theoretical connections among markups, prices, costs, scale elasticities,...

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Bibliographic Details
Published in:The Journal of economic perspectives 2019-08, Vol.33 (3), p.23-43
Main Author: Syverson, Chad
Format: Article
Language:English
Subjects:
Cost estimates
Economic profit
Income shares
Industrial concentration
Macroeconomics
Marginal cost pricing
Marginal costs
Market power
Markups
Productivity
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