3 papers
econ.GN2026
Micro and Macro Perspectives on Production-Based Markups
John Fernald, Amit Gandhi, Dimitrije Ruzic +1
We review the "production approach" to estimating markups, the ratio of price to marginal cost. The approach is uniquely scalable: it requires no model of consumer demand or market…
econ.GN2023
The Beginning of the Trend: Interest Rates, Profits, and Markups
Anton Bobrov, James Traina
Recent highly cited research uses time-series evidence to argue the decline in interest rates led to a large rise in economic profits and markups. We show the size of these estimat…
econ.GN2022
Profit Puzzles or: Public Firm Profits Have Fallen
Carter Davis, Alexandre Sollaci, James Traina
We show that public firm profit rates fell by half since 1980. Inferred as the residual from the rise of US corporate profit rates in aggregate data, private firm profit rates doub…