{"id":"https://openalex.org/W2912858823","doi":"https://doi.org/10.3386/w25512","title":"The Nonpuzzling Behavior of Median Inflation","display_name":"The Nonpuzzling Behavior of Median Inflation","publication_year":2019,"publication_date":"2019-01-01","ids":{"openalex":"https://openalex.org/W2912858823","doi":"https://doi.org/10.3386/w25512","mag":"2912858823"},"language":"en","primary_location":{"id":"doi:10.3386/w25512","doi":"https://doi.org/10.3386/w25512","is_oa":true,"landing_page_url":"https://doi.org/10.3386/w25512","pdf_url":"https://doi.org/10.3386/w25512","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","indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"https://doi.org/10.3386/w25512","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5041112681","display_name":"Laurence M. Ball","orcid":"https://orcid.org/0000-0002-0092-388X","observed_orcids":["https://orcid.org/0000-0002-0092-388X"]},"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/I145311948","display_name":"Johns Hopkins University","ror":"https://ror.org/00za53h95","country_code":"US","type":"education","lineage":["https://openalex.org/I145311948"]},{"id":"https://openalex.org/I47251452","display_name":"Wake Forest University","ror":"https://ror.org/0207ad724","country_code":"US","type":"education","lineage":["https://openalex.org/I47251452"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Laurence Ball","raw_affiliation_strings":["Department of Economics Johns Hopkins University Baltimore , MD 21218 and","Department of Economics Johns Hopkins University Baltimore, MD 21218 and NBER","Department of Economics Wake Forest University Winston-Salem, NC 27109","NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of Economics Johns Hopkins University Baltimore , MD 21218 and","institution_ids":["https://openalex.org/I145311948"]},{"raw_affiliation_string":"Department of Economics Johns Hopkins University Baltimore, MD 21218 and NBER","institution_ids":["https://openalex.org/I145311948"]},{"raw_affiliation_string":"Department of Economics Wake Forest University Winston-Salem, NC 27109","institution_ids":["https://openalex.org/I47251452"]},{"raw_affiliation_string":"NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138","institution_ids":["https://openalex.org/I1321305853"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5084806465","display_name":"Sandeep Mazumder","orcid":"https://orcid.org/0000-0002-9021-1287","observed_orcids":["https://orcid.org/0000-0002-9021-1287"]},"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/I145311948","display_name":"Johns Hopkins University","ror":"https://ror.org/00za53h95","country_code":"US","type":"education","lineage":["https://openalex.org/I145311948"]},{"id":"https://openalex.org/I47251452","display_name":"Wake Forest University","ror":"https://ror.org/0207ad724","country_code":"US","type":"education","lineage":["https://openalex.org/I47251452"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Sandeep Mazumder","raw_affiliation_strings":["Department of Economics Johns Hopkins University Baltimore, MD 21218 and NBER","Department of Economics Wake Forest University Winston-Salem, NC 27109","NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of Economics Johns Hopkins University Baltimore, MD 21218 and NBER","institution_ids":["https://openalex.org/I145311948"]},{"raw_affiliation_string":"Department of Economics Wake Forest University Winston-Salem, NC 27109","institution_ids":["https://openalex.org/I47251452"]},{"raw_affiliation_string":"NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138","institution_ids":["https://openalex.org/I1321305853"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":3,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":null,"has_fulltext":true,"cited_by_count":36,"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":0.9980000257492065,"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":0.9980000257492065,"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/T13399","display_name":"Unemployment and Economic Growth","score":0.000699999975040555,"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/T11059","display_name":"Market Dynamics and Volatility","score":0.0006000000284984708,"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/core-inflation","display_name":"core inflation","score":0.8849999904632568},{"id":"https://openalex.org/keywords/weighted-median","display_name":"weighted median","score":0.7770000100135803},{"id":"https://openalex.org/keywords/phillips-curve","display_name":"Phillips curve","score":0.9290000200271606},{"id":"https://openalex.org/keywords/inflation-unemployment-relationship","display_name":"inflation-unemployment relationship","score":0.8199999928474426},{"id":"https://openalex.org/keywords/great-recession","display_name":"Great Recession","score":0.8740000128746033},{"id":"https://openalex.org/keywords/food-and-energy-prices","display_name":"food and energy prices","score":0.7730000019073486},{"id":"https://openalex.org/keywords/inflation-measurement","display_name":"inflation measurement","score":0.6290000081062317}],"concepts":[{"id":"https://openalex.org/C2778774626","wikidata":"https://www.wikidata.org/wiki/Q220841","display_name":"Phillips curve","level":3,"score":0.8458895683288574},{"id":"https://openalex.org/C2777763362","wikidata":"https://www.wikidata.org/wiki/Q1739354","display_name":"Core inflation","level":4,"score":0.8104217648506165},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.7827045917510986},{"id":"https://openalex.org/C200941418","wikidata":"https://www.wikidata.org/wiki/Q273508","display_name":"Inflation (cosmology)","level":2,"score":0.7709164619445801},{"id":"https://openalex.org/C165556158","wikidata":"https://www.wikidata.org/wiki/Q83937","display_name":"Keynesian economics","level":1,"score":0.6587085127830505},{"id":"https://openalex.org/C2778126366","wikidata":"https://www.wikidata.org/wiki/Q41171","display_name":"Unemployment","level":2,"score":0.5584405660629272},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.4920317828655243},{"id":"https://openalex.org/C139676723","wikidata":"https://www.wikidata.org/wiki/Q1193832","display_name":"Sign (mathematics)","level":2,"score":0.4893926680088043},{"id":"https://openalex.org/C2993702802","wikidata":"https://www.wikidata.org/wiki/Q35865","display_name":"Inflation rate","level":3,"score":0.4877398610115051},{"id":"https://openalex.org/C154815372","wikidata":"https://www.wikidata.org/wiki/Q1140421","display_name":"Real interest rate","level":3,"score":0.46360906958580017},{"id":"https://openalex.org/C2164484","wikidata":"https://www.wikidata.org/wiki/Q5170150","display_name":"Core (optical fiber)","level":2,"score":0.4369366765022278},{"id":"https://openalex.org/C155508913","wikidata":"https://www.wikidata.org/wiki/Q1200411","display_name":"Misery index","level":4,"score":0.42984744906425476},{"id":"https://openalex.org/C195742910","wikidata":"https://www.wikidata.org/wiki/Q176494","display_name":"Recession","level":2,"score":0.42348620295524597},{"id":"https://openalex.org/C116714509","wikidata":"https://www.wikidata.org/wiki/Q32278","display_name":"Truncated mean","level":3,"score":0.4154803156852722},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.3702191710472107},{"id":"https://openalex.org/C126285488","wikidata":"https://www.wikidata.org/wiki/Q178476","display_name":"Monetary policy","level":2,"score":0.3191591203212738},{"id":"https://openalex.org/C139719470","wikidata":"https://www.wikidata.org/wiki/Q39680","display_name":"Macroeconomics","level":1,"score":0.28737393021583557},{"id":"https://openalex.org/C185824701","wikidata":"https://www.wikidata.org/wiki/Q1193759","display_name":"Inflation targeting","level":3,"score":0.2832546830177307},{"id":"https://openalex.org/C105795698","wikidata":"https://www.wikidata.org/wiki/Q12483","display_name":"Statistics","level":1,"score":0.13370037078857422},{"id":"https://openalex.org/C33923547","wikidata":"https://www.wikidata.org/wiki/Q395","display_name":"Mathematics","level":0,"score":0.12286040186882019},{"id":"https://openalex.org/C121332964","wikidata":"https://www.wikidata.org/wiki/Q413","display_name":"Physics","level":0,"score":0.0621238648891449},{"id":"https://openalex.org/C185429906","wikidata":"https://www.wikidata.org/wiki/Q1130160","display_name":"Estimator","level":2,"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/C134306372","wikidata":"https://www.wikidata.org/wiki/Q7754","display_name":"Mathematical analysis","level":1,"score":0.0},{"id":"https://openalex.org/C120665830","wikidata":"https://www.wikidata.org/wiki/Q14620","display_name":"Optics","level":1,"score":0.0}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.3386/w25512","doi":"https://doi.org/10.3386/w25512","is_oa":true,"landing_page_url":"https://doi.org/10.3386/w25512","pdf_url":"https://doi.org/10.3386/w25512","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/w25512","doi":"https://doi.org/10.3386/w25512","is_oa":true,"landing_page_url":"https://doi.org/10.3386/w25512","pdf_url":"https://doi.org/10.3386/w25512","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":[],"sustainable_development_goals_aurora":[{"id":"https://metadata.un.org/sdg/8","score":0.7599999904632568,"display_name":"Decent work and economic growth"}],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":true,"grobid_xml":true},"content_urls":{"pdf":"https://content.openalex.org/works/W2912858823.pdf","grobid_xml":"https://content.openalex.org/works/W2912858823.grobid-xml"},"referenced_works_count":21,"referenced_works":["https://openalex.org/W128107647","https://openalex.org/W1491647994","https://openalex.org/W1553027878","https://openalex.org/W1561841176","https://openalex.org/W1787252716","https://openalex.org/W2039864532","https://openalex.org/W2059215693","https://openalex.org/W2088918363","https://openalex.org/W2129340585","https://openalex.org/W2145075570","https://openalex.org/W2153960253","https://openalex.org/W2606167913","https://openalex.org/W2772395167","https://openalex.org/W3121245699","https://openalex.org/W3122140348","https://openalex.org/W3122775046","https://openalex.org/W3124144106","https://openalex.org/W3124250454","https://openalex.org/W4292331057","https://openalex.org/W4299678444","https://openalex.org/W6601657841"],"related_works":["https://openalex.org/W4327924020","https://openalex.org/W3122140348","https://openalex.org/W6889864218","https://openalex.org/W3124250454","https://openalex.org/W1607024096","https://openalex.org/W4417146447","https://openalex.org/W7098400908","https://openalex.org/W2595836955","https://openalex.org/W2954811257","https://openalex.org/W4234990572"],"abstract_inverted_index":{"Economists":[0],"are":[1],"puzzled":[2],"by":[3,54],"the":[4,10,19,55,68,74,93,96,117,125],"behavior":[5,33],"of":[6,13,58,71,95,103,132],"U.S.":[7],"inflation":[8,23,32,42,51,60,75,104],"since":[9],"Great":[11],"Recession":[12],"2008-2009,":[14],"and":[15,45,48,79,107],"many":[16],"suggest":[17],"that":[18,31,112],"Phillips":[20,114],"curve":[21,115],"relating":[22,116],"to":[24,36,120],"unemployment":[25,121],"has":[26],"broken":[27],"down.This":[28],"paper":[29],"argues":[30],"is":[34,52,64],"easier":[35],"understand":[37],"if":[38,49],"we":[39],"divide":[40],"headline":[41],"into":[43],"core":[44,50,72],"transitory":[46],"components,":[47],"measured":[53],"weighted":[56,62,97,118],"median":[57,63,98,119],"industry":[59],"rates.This":[61],"less":[65],"volatile":[66],"than":[67],"traditional":[69],"measure":[70],"inflation,":[73],"rate":[76],"excluding":[77],"food":[78],"energy":[80],"prices,":[81],"because":[82],"it":[83],"filters":[84],"out":[85],"large":[86],"price":[87],"changes":[88],"in":[89,105,124,135],"all":[90],"industries.We":[91],"illustrate":[92],"usefulness":[94],"with":[99,129],"a":[100,113,133],"case":[101],"study":[102],"2017":[106],"early":[108],"2018.We":[109],"also":[110],"show":[111],"appears":[122],"clearly":[123],"data":[126],"for":[127],"1985-2017,":[128],"no":[130],"sign":[131],"breakdown":[134],"2008.":[136]},"counts_by_year":[{"year":2025,"cited_by_count":2},{"year":2024,"cited_by_count":2},{"year":2023,"cited_by_count":9},{"year":2022,"cited_by_count":5},{"year":2021,"cited_by_count":6},{"year":2020,"cited_by_count":7},{"year":2019,"cited_by_count":5}],"updated_date":"2026-10-16T09:59:22.235173","created_date":"2019-02-21T00:00:00"}
