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 and incongruencies between macro evidence and micro views of market power and, when they do not perfectly overlap, explain the open questions that need to be answered to make the connection complete.

中文翻译：

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宏观经济学和市场力量：背景，含义和开放性问题

本文评估了最近的宏观经济市场力量研究的几个方面。这些包括定义和衡量市场支配力的方式；使用会计数据估计加价幅度；加价，价格，成本，规模弹性和利润之间的理论联系的定量含义；关于更大的市场力量是否导致投资率降低和劳动收入份额降低的证据相互矛盾。在整个讨论中，我描述了宏观证据和微观市场力量观点之间的一致性和不一致之处，当它们不能完全重叠时，解释为使联系完成而需要回答的开放性问题。