Markups and Markdowns

Chad Syverson

No 32871, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: Interest in market power has recently surged among economists in many fields, well beyond its traditional home in industrial organization. This has focused empirical attention on markups, the ratios of price to marginal cost in product markets, and markdowns, the ratios of inputs’ marginal products to their paid wage in factor markets. In this review, I offer a conceptual overview of both metrics and survey recent research examining them. I pay particular attention to the distinct interests that microeconomists and macroeconomists have had regarding these metrics, as well as topics that have bridged and are bridging these often distinct literatures.

JEL-codes: D4 E3 L0 (search for similar items in EconPapers)
Date: 2024-08
New Economics Papers: this item is included in nep-com, nep-ind and nep-reg
Note: CF DEV EFG IO LS PR
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