Global macro is generated by the following code:

cap global dir = "C:\Users\liang\Desktop\111523-V2\aer_replication"

Local macros only exist either in the current session, or in the current do file (if the do file is run once).

macro list will list all the current macros.

To substitute the macro contents of a global macro name, the macro name is typed (punctuated) with a dollar sign ($) in front.