{"id":"https://openalex.org/W2017032250","doi":"https://doi.org/10.3386/w0873","title":"Aggregation and Stabilization Policy in a Multi-Contract Economy","display_name":"Aggregation and Stabilization Policy in a Multi-Contract Economy","publication_year":1982,"publication_date":"1982-04-01","ids":{"openalex":"https://openalex.org/W2017032250","doi":"https://doi.org/10.3386/w0873","mag":"2017032250"},"language":"en","primary_location":{"id":"doi:10.3386/w0873","doi":"https://doi.org/10.3386/w0873","is_oa":true,"landing_page_url":"https://doi.org/10.3386/w0873","pdf_url":"https://doi.org/10.3386/w0873","source":{"id":"https://openalex.org/S2809516038","display_name":"National Bureau of Economic Research","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":["https://openalex.org/P4322614461"],"host_organization_lineage_names":["National Bureau of Economic Research"],"type":"repository"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"National Bureau of Economic Research","raw_type":"report"},"volume":null,"type":"report","is_traditional":false,"indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"https://doi.org/10.3386/w0873","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5029944461","display_name":"Alan S. Blinder","orcid":"https://orcid.org/0000-0002-6754-1843","observed_orcids":["https://orcid.org/0000-0002-6754-1843"]},"institutions":[{"id":"https://openalex.org/I1321305853","display_name":"National Bureau of Economic Research","ror":"https://ror.org/04grmx538","country_code":"US","type":"nonprofit","lineage":["https://openalex.org/I1321305853"]},{"id":"https://openalex.org/I20089843","display_name":"Princeton University","ror":"https://ror.org/00hx57361","country_code":"US","type":"education","lineage":["https://openalex.org/I20089843"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Alan Blinder","raw_affiliation_strings":["Department of 1conomics Princeton University Princeton , N.J. U8544","National Bureau of Economic Research (NBER)","Princeton University - Department of Economics"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of 1conomics Princeton University Princeton , N.J. U8544","institution_ids":["https://openalex.org/I20089843"]},{"raw_affiliation_string":"National Bureau of Economic Research (NBER)","institution_ids":["https://openalex.org/I1321305853"]},{"raw_affiliation_string":"Princeton University - Department of Economics","institution_ids":["https://openalex.org/I20089843"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5026481307","display_name":"N. Gregory Mankiw","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I1321305853","display_name":"National Bureau of Economic Research","ror":"https://ror.org/04grmx538","country_code":"US","type":"nonprofit","lineage":["https://openalex.org/I1321305853"]},{"id":"https://openalex.org/I136199984","display_name":"Harvard University","ror":"https://ror.org/03vek6s52","country_code":"US","type":"education","lineage":["https://openalex.org/I136199984"]},{"id":"https://openalex.org/I63966007","display_name":"Massachusetts Institute of Technology","ror":"https://ror.org/042nb2s44","country_code":"US","type":"education","lineage":["https://openalex.org/I63966007"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"N. Gregory Mankiw","raw_affiliation_strings":["Massachusetts Institute of Technology 1 ","National Bureau of Economic Research (NBER)","Harvard University - Department of Economics"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Massachusetts Institute of Technology 1 ","institution_ids":["https://openalex.org/I63966007"]},{"raw_affiliation_string":"National Bureau of Economic Research (NBER)","institution_ids":["https://openalex.org/I1321305853"]},{"raw_affiliation_string":"Harvard University - Department of Economics","institution_ids":["https://openalex.org/I136199984"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":4,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":null,"has_fulltext":true,"cited_by_count":13,"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":0.9916999936103821,"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":0.9916999936103821,"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":0.0044999998062849045,"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/T11742","display_name":"Economic Theory and Policy","score":0.0032999999821186066,"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"}}],"keywords":[{"id":"https://openalex.org/keywords/economic-stabilization","display_name":"economic stabilization","score":0.8040000200271606},{"id":"https://openalex.org/keywords/multi-sector-economy","display_name":"multi-sector economy","score":0.8169999718666077},{"id":"https://openalex.org/keywords/wage-rigidity","display_name":"wage rigidity","score":0.6959999799728394},{"id":"https://openalex.org/keywords/sticky-prices","display_name":"price stickiness","score":0.9990000128746033},{"id":"https://openalex.org/keywords/aggregation","display_name":"aggregation","score":0.3970000147819519},{"id":"https://openalex.org/keywords/demand-shocks","display_name":"demand shocks","score":0.6840000152587891},{"id":"https://openalex.org/keywords/supply-shocks","display_name":"supply shocks","score":1.0},{"id":"https://openalex.org/keywords/monetary-policy-rules","display_name":"monetary policy rules","score":0.6290000081062317},{"id":"https://openalex.org/keywords/feedback-rules","display_name":"feedback rules","score":0.6140000224113464},{"id":"https://openalex.org/keywords/policy-trade-offs","display_name":"policy trade-offs","score":0.5230000019073486}],"concepts":[{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.4702768921852112},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.37422817945480347}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.3386/w0873","doi":"https://doi.org/10.3386/w0873","is_oa":true,"landing_page_url":"https://doi.org/10.3386/w0873","pdf_url":"https://doi.org/10.3386/w0873","source":{"id":"https://openalex.org/S2809516038","display_name":"National Bureau of Economic Research","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":["https://openalex.org/P4322614461"],"host_organization_lineage_names":["National Bureau of Economic Research"],"type":"repository"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"National Bureau of Economic Research","raw_type":"report"}],"best_oa_location":{"id":"doi:10.3386/w0873","doi":"https://doi.org/10.3386/w0873","is_oa":true,"landing_page_url":"https://doi.org/10.3386/w0873","pdf_url":"https://doi.org/10.3386/w0873","source":{"id":"https://openalex.org/S2809516038","display_name":"National Bureau of Economic Research","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":["https://openalex.org/P4322614461"],"host_organization_lineage_names":["National Bureau of Economic Research"],"type":"repository"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"National Bureau of Economic Research","raw_type":"report"},"sustainable_development_goals":[{"display_name":"Decent work and economic growth","score":0.7257999777793884,"id":"https://metadata.un.org/sdg/8"}],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":true,"pdf":true},"content_urls":{"pdf":"https://content.openalex.org/works/W2017032250.pdf","grobid_xml":"https://content.openalex.org/works/W2017032250.grobid-xml"},"referenced_works_count":7,"referenced_works":["https://openalex.org/W1480302269","https://openalex.org/W1522221234","https://openalex.org/W1989102792","https://openalex.org/W2070720254","https://openalex.org/W2073141555","https://openalex.org/W2091018297","https://openalex.org/W3124349011"],"related_works":["https://openalex.org/W1489504490","https://openalex.org/W2802030709","https://openalex.org/W2011068245","https://openalex.org/W4237408837","https://openalex.org/W2169439018","https://openalex.org/W2014299338","https://openalex.org/W754278929","https://openalex.org/W3121179758","https://openalex.org/W1971136317","https://openalex.org/W3125045154"],"abstract_inverted_index":{"This":[0],"paper":[1],"presents":[2],"a":[3,6,16,75,99,116],"model":[4,109],"of":[5,19,106],"multi-sector":[7],"economy":[8,69],"in":[9,58,63],"which":[10],"each":[11],"sector":[12,60,77],"is":[13],"characterized":[14],"by":[15],"different":[17],"type":[18],"wage":[20],"or":[21,113],"price":[22],"stickiness.The":[23],"various":[24],"sectors":[25],"experience":[26],"the":[27,33,52,68,82,86,92,94,104],"same":[28,34],"exogenous":[29],"shocks":[30,40,50],"and":[31,61,90],"have":[32],"money":[35],"supply.The":[36],"analysis":[37,65],"shows":[38,67],"demand":[39],"pose":[41],"no":[42],"serious":[43],"problems":[44],"for":[45],"stabilization":[46],"policy.In":[47],"contrast,":[48],"supply":[49],"force":[51],"policymaker":[53,95],"to":[54,85],"choose":[55],"between":[56],"stability":[57,62],"one":[59],"another.The":[64],"also":[66],"cannot":[70],"be":[71,111],"usefully":[72],"aggregated":[73],"into":[74],"single":[76],"model.Such":[78],"an":[79,107],"aggregation":[80],"misleads":[81],"economist":[83],"as":[84],"economy's":[87],"underlying":[88],"structure":[89],"obscures":[91],"tradeoffs":[93],"must":[96],"confront.In":[97],"particular,":[98],"feedback":[100],"rule":[101],"chosen":[102],"on":[103],"basis":[105],"aggregate":[108],"could":[110],"better":[112],"worse":[114],"than":[115],"passive":[117],"policy.":[118]},"counts_by_year":[{"year":2013,"cited_by_count":1}],"updated_date":"2026-11-03T10:50:19.383937","created_date":"2016-06-24T00:00:00"}
