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

@article{Syverson2019MacroeconomicsAM,
  title={Macroeconomics and Market Power: Context, Implications, and Open Questions},
  author={Chad Syverson},
  journal={Journal of Economic Perspectives},
  year={2019}
}
  • C. Syverson
  • Published 1 August 2019
  • Economics
  • Journal of Economic Perspectives
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, and profits; and conflicting evidence on whether greater market power has led to lower investment rates and a lower labor share of income. Throughout this discussion, I characterize the congruencies… 
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