Professor, KU Leuven and Research Professor, Research Council (FWO),
Head of Division, Productivity and Business Dynamics, OECD
Director, IMF Europe Office,
Director of economics, Google,
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Markups measure how much higher prices of output goods are relative to their marginal production costs. In other words, they measure the margin of revenue over variable costs. Recent literature, starting with De Loecker and Eeckhout (2018), reports that markups have substantially increased since 1980.
At this event we reviewed the available empirical evidence on markups and investigate the implications for market concentration, market power, productivity, and economic growth.