{"id":"https://openalex.org/W1490675738","doi":null,"title":"Trend Inflation and the Unemployment Volatility Puzzle","display_name":"Trend Inflation and the Unemployment Volatility Puzzle","publication_year":2012,"publication_date":"2012-05-01","ids":{"openalex":"https://openalex.org/W1490675738","mag":"1490675738"},"language":"en","primary_location":{"id":"pmh:oai:RePEc:bcb:wpaper:277","doi":null,"is_oa":false,"landing_page_url":"https://www.bcb.gov.br/content/publicacoes/WorkingPaperSeries/wps277.pdf","pdf_url":"https://www.bcb.gov.br/content/publicacoes/WorkingPaperSeries/wps277.pdf","source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"preprint"},"volume":null,"type":"preprint","is_traditional":true,"indexed_in":[],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5047617050","display_name":"Sergio A. Lago Alves","orcid":"https://orcid.org/0000-0002-0906-4233","observed_orcids":["https://orcid.org/0000-0002-0906-4233"]},"institutions":[],"countries":[],"is_corresponding":true,"raw_author_name":"Sergio A. Lago Alves","raw_affiliation_strings":[],"raw_orcid":"https://orcid.org/0000-0002-0906-4233","affiliations":[]}],"institutions":[],"countries_distinct_count":0,"institutions_distinct_count":0,"corresponding_author_ids":["https://openalex.org/A5047617050"],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":null,"has_fulltext":false,"cited_by_count":10,"citation_normalized_percentile":null,"cited_by_percentile_year":null,"biblio":{"volume":null,"issue":null,"first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.9887999892234802,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.9887999892234802,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12137","display_name":"Economic theories and models","score":0.005200000014156103,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10208","display_name":"Labor market dynamics and wage inequality","score":0.0017999999690800905,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/unemployment-volatility","display_name":"unemployment volatility","score":0.7599999904632568},{"id":"https://openalex.org/keywords/trend-inflation","display_name":"trend inflation","score":0.902999997138977},{"id":"https://openalex.org/keywords/sticky-prices","display_name":"price stickiness","score":0.9549999833106995},{"id":"https://openalex.org/keywords/great-moderation","display_name":"Great Moderation","score":0.8550000190734863},{"id":"https://openalex.org/keywords/wage-rigidity","display_name":"wage rigidity","score":0.75},{"id":"https://openalex.org/keywords/labor-market-dynamics","display_name":"labor market dynamics","score":0.6290000081062317},{"id":"https://openalex.org/keywords/cpi-inflation","display_name":"CPI inflation","score":0.5580000281333923}],"concepts":[{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.8500206470489502},{"id":"https://openalex.org/C72868586","wikidata":"https://www.wikidata.org/wiki/Q5599587","display_name":"Great Moderation","level":3,"score":0.7384365200996399},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.7047942876815796},{"id":"https://openalex.org/C91602232","wikidata":"https://www.wikidata.org/wiki/Q756115","display_name":"Volatility (finance)","level":2,"score":0.6480212211608887},{"id":"https://openalex.org/C2778126366","wikidata":"https://www.wikidata.org/wiki/Q41171","display_name":"Unemployment","level":2,"score":0.647651731967926},{"id":"https://openalex.org/C200941418","wikidata":"https://www.wikidata.org/wiki/Q273508","display_name":"Inflation (cosmology)","level":2,"score":0.6231909990310669},{"id":"https://openalex.org/C2777388388","wikidata":"https://www.wikidata.org/wiki/Q6821213","display_name":"Wage","level":2,"score":0.5438221096992493},{"id":"https://openalex.org/C198531522","wikidata":"https://www.wikidata.org/wiki/Q485146","display_name":"Sample (material)","level":2,"score":0.5016086101531982},{"id":"https://openalex.org/C2781300812","wikidata":"https://www.wikidata.org/wiki/Q178061","display_name":"Shock (circulatory)","level":2,"score":0.47902196645736694},{"id":"https://openalex.org/C93225998","wikidata":"https://www.wikidata.org/wiki/Q1941972","display_name":"Moderation","level":2,"score":0.42879998683929443},{"id":"https://openalex.org/C2776318286","wikidata":"https://www.wikidata.org/wiki/Q16963850","display_name":"Technology shock","level":4,"score":0.4147912263870239},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.3516541123390198},{"id":"https://openalex.org/C126285488","wikidata":"https://www.wikidata.org/wiki/Q178476","display_name":"Monetary policy","level":2,"score":0.3081410229206085},{"id":"https://openalex.org/C139719470","wikidata":"https://www.wikidata.org/wiki/Q39680","display_name":"Macroeconomics","level":1,"score":0.2212008237838745},{"id":"https://openalex.org/C145236788","wikidata":"https://www.wikidata.org/wiki/Q28161","display_name":"Labour economics","level":1,"score":0.1495746672153473},{"id":"https://openalex.org/C33923547","wikidata":"https://www.wikidata.org/wiki/Q395","display_name":"Mathematics","level":0,"score":0.11615109443664551},{"id":"https://openalex.org/C105795698","wikidata":"https://www.wikidata.org/wiki/Q12483","display_name":"Statistics","level":1,"score":0.09425333142280579},{"id":"https://openalex.org/C121332964","wikidata":"https://www.wikidata.org/wiki/Q413","display_name":"Physics","level":0,"score":0.0},{"id":"https://openalex.org/C126322002","wikidata":"https://www.wikidata.org/wiki/Q11180","display_name":"Internal medicine","level":1,"score":0.0},{"id":"https://openalex.org/C185592680","wikidata":"https://www.wikidata.org/wiki/Q2329","display_name":"Chemistry","level":0,"score":0.0},{"id":"https://openalex.org/C489367","wikidata":"https://www.wikidata.org/wiki/Q1962064","display_name":"Dynamic stochastic general equilibrium","level":3,"score":0.0},{"id":"https://openalex.org/C71924100","wikidata":"https://www.wikidata.org/wiki/Q11190","display_name":"Medicine","level":0,"score":0.0},{"id":"https://openalex.org/C33332235","wikidata":"https://www.wikidata.org/wiki/Q18362","display_name":"Theoretical physics","level":1,"score":0.0},{"id":"https://openalex.org/C43617362","wikidata":"https://www.wikidata.org/wiki/Q170050","display_name":"Chromatography","level":1,"score":0.0}],"mesh":[],"locations_count":2,"locations":[{"id":"pmh:oai:RePEc:bcb:wpaper:277","doi":null,"is_oa":false,"landing_page_url":"https://www.bcb.gov.br/content/publicacoes/WorkingPaperSeries/wps277.pdf","pdf_url":"https://www.bcb.gov.br/content/publicacoes/WorkingPaperSeries/wps277.pdf","source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"preprint"},{"id":"mag:1490675738","doi":null,"is_oa":false,"landing_page_url":"https://www.bcb.gov.br/pec/wps/ingl/wps277.pdf","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"RePEc: Research Papers in Economics","raw_type":null}],"best_oa_location":null,"sustainable_development_goals":[{"id":"https://metadata.un.org/sdg/8","score":0.7257999777793884,"display_name":"Decent work and economic growth"}],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":52,"referenced_works":["https://openalex.org/W1485676192","https://openalex.org/W1515771214","https://openalex.org/W1542505976","https://openalex.org/W1550925080","https://openalex.org/W1562776424","https://openalex.org/W1595956136","https://openalex.org/W1732999547","https://openalex.org/W1963884123","https://openalex.org/W1986915872","https://openalex.org/W1994121926","https://openalex.org/W1995278743","https://openalex.org/W2009225630","https://openalex.org/W2019241877","https://openalex.org/W2031542759","https://openalex.org/W2035131493","https://openalex.org/W2051133393","https://openalex.org/W2060351950","https://openalex.org/W2063773487","https://openalex.org/W2069498607","https://openalex.org/W2080196427","https://openalex.org/W2089853409","https://openalex.org/W2106817194","https://openalex.org/W2108021284","https://openalex.org/W2114514721","https://openalex.org/W2119374980","https://openalex.org/W2123954539","https://openalex.org/W2125289095","https://openalex.org/W2130796440","https://openalex.org/W2144395073","https://openalex.org/W2148762435","https://openalex.org/W2162263065","https://openalex.org/W2170914570","https://openalex.org/W2180308125","https://openalex.org/W2260069545","https://openalex.org/W2342040108","https://openalex.org/W2890213084","https://openalex.org/W2892098384","https://openalex.org/W3121315875","https://openalex.org/W3121408141","https://openalex.org/W3121473965","https://openalex.org/W3121557616","https://openalex.org/W3122113178","https://openalex.org/W3122155766","https://openalex.org/W3122501843","https://openalex.org/W3122756410","https://openalex.org/W3122808218","https://openalex.org/W3122899436","https://openalex.org/W3123041225","https://openalex.org/W3123135433","https://openalex.org/W3123308126","https://openalex.org/W3123473914","https://openalex.org/W3123970111"],"related_works":["https://openalex.org/W3125565861","https://openalex.org/W1506638049","https://openalex.org/W3217015120","https://openalex.org/W2050449096","https://openalex.org/W7096499697","https://openalex.org/W3144910909","https://openalex.org/W3121514485","https://openalex.org/W2207649041","https://openalex.org/W2095618221","https://openalex.org/W2117986066"],"abstract_inverted_index":{"I":[0],"show":[1],"that":[2],"the":[3,16,52,56,61,66,69,75],"combination":[4],"of":[5,55,63],"small":[6],"positive":[7],"trend":[8],"inflation":[9,58],"with":[10],"staggered":[11],"prices":[12],"may":[13],"account":[14],"for":[15,51],"large":[17],"relative":[18],"volatilities":[19,76],"found":[20],"in":[21],"US":[22],"labor":[23],"market":[24],"data.":[25],"The":[26,43],"model":[27,67],"does":[28],"not":[29],"have":[30],"any":[31],"wage":[32],"rigidity":[33],"and":[34,60,73,86],"is":[35],"hit":[36],"only":[37],"by":[38],"an":[39],"aggregate":[40],"technology":[41],"shock.":[42],"calibration":[44],"procedure":[45],"uses":[46],"standard":[47],"parameter":[48],"values.":[49],"Controlling":[50],"sample":[53,81,84],"average":[54],"CPI":[57],"rate":[59],"degree":[62],"price":[64],"stickiness,":[65],"solves":[68],"Shimer":[70],"(2005)":[71],"puzzle":[72],"explains":[74],"observed":[77],"during":[78],"two":[79],"important":[80],"periods:":[82],"full":[83],"(1951-2005)":[85],"Great":[87],"Moderation":[88],"(1985-2005).":[89]},"counts_by_year":[{"year":2021,"cited_by_count":1},{"year":2016,"cited_by_count":2},{"year":2015,"cited_by_count":1},{"year":2014,"cited_by_count":3},{"year":2013,"cited_by_count":1},{"year":2012,"cited_by_count":2}],"updated_date":"2026-11-04T10:54:05.112534","created_date":"2016-06-24T00:00:00"}