Markups and Markdowns
综述了加价(产品市场价格与边际成本之比)和加价率(要素边际产品与支付工资之比)这两个衡量市场势力的指标,并调查了近期相关研究,特别关注微观与宏观经济学家对这些指标的不同兴趣及连接两个文献的主题。
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 prices to marginal costs in product markets, and markdowns, the ratios of inputs’ marginal products to their paid wages 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 to topics that have bridged and are bridging these often distinct literatures.