Testing the Production Approach to Markup Estimation
检验了生产方法估算加成率的一个关键假设：任何灵活投入都应能恢复相同的加成率。利用多个国家的制造业数据和一家美国零售商的店铺数据，发现基于劳动和材料估算的加成率分布显著不同，且呈负相关，从而拒绝了该假设。
Abstract Under the production approach to markup estimation, any flexible input should recover the markup. I test this implication using manufacturing datasets from Chile, Colombia, India, Indonesia, the U.S., and Southern Europe, as well as store-level data from a major U.S. retailer, and overwhelmingly reject that markups estimated using labour and materials have the same distribution. For every dataset, markups estimated using labour are negatively correlated with markups estimated using materials, exhibit greater dispersion, and have opposite time trends. I continue to find stark differences in markups estimated using energy and non-energy raw materials. Non-neutral productivity differences across firms can explain these findings.