{"id":"https://openalex.org/W2953441996","doi":"https://doi.org/10.5089/9781513536613.001","title":"Inflation and Activity \u2013 Two Explorations and their Monetary Policy Implications","display_name":"Inflation and Activity \u2013 Two Explorations and their Monetary Policy Implications","publication_year":2015,"publication_date":"2015-11-01","ids":{"openalex":"https://openalex.org/W2953441996","doi":"https://doi.org/10.5089/9781513536613.001","mag":"2953441996"},"language":"en","primary_location":{"id":"doi:10.5089/9781513536613.001","doi":"https://doi.org/10.5089/9781513536613.001","is_oa":true,"landing_page_url":"https://doi.org/10.5089/9781513536613.001","pdf_url":"https://www.elibrary.imf.org/downloadpdf/journals/001/2015/230/001.2015.issue-230-en.xml","source":{"id":"https://openalex.org/S4210171147","display_name":"IMF Working Paper","issn_l":"1018-5941","issn":["1018-5941","2227-8885"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["cwts-core"],"host_organization":"https://openalex.org/P4310316166","host_organization_name":"International Monetary Fund","host_organization_lineage":["https://openalex.org/P4310316166","https://openalex.org/P4310321776"],"host_organization_lineage_names":["International Monetary Fund","United Nations"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"IMF Working Papers","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"bronze","oa_url":"https://www.elibrary.imf.org/downloadpdf/journals/001/2015/230/001.2015.issue-230-en.xml","any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5037232892","display_name":"Olivier Jean Blanchard","orcid":"https://orcid.org/0000-0003-1308-3207","observed_orcids":["https://orcid.org/0000-0003-1308-3207"]},"institutions":[{"id":"https://openalex.org/I1310145890","display_name":"International Monetary Fund","ror":"https://ror.org/05m4rmw09","country_code":"US","type":"other","lineage":["https://openalex.org/I1310145890"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Olivier Blanchard","raw_affiliation_strings":["International Monetary Fund"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"International Monetary Fund","institution_ids":["https://openalex.org/I1310145890"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5085941927","display_name":"Eugenio Cerutti","orcid":null,"observed_orcids":[]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Eugenio Cerutti","raw_affiliation_strings":[],"raw_orcid":null,"affiliations":[]},{"author_position":"last","author":{"id":"https://openalex.org/A5059478603","display_name":"Lawrence H. Summers","orcid":null,"observed_orcids":[]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Lawrence Summers","raw_affiliation_strings":[],"raw_orcid":null,"affiliations":[]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":28.7451,"has_fulltext":true,"cited_by_count":104,"citation_normalized_percentile":{"value":0.99435702,"is_in_top_1_percent":true,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":96,"max":100},"biblio":{"volume":"2015","issue":"230","first_page":"1","last_page":"1"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.9994999766349792,"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":0.9994999766349792,"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":0.00019999999494757503,"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":9.999999747378752e-05,"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/inflation","display_name":"inflation","score":0.6639999747276306},{"id":"https://openalex.org/keywords/economic-activity","display_name":"economic activity","score":0.8169999718666077},{"id":"https://openalex.org/keywords/hysteresis","display_name":"hysteresis","score":0.8309999704360962},{"id":"https://openalex.org/keywords/recession","display_name":"economic recession","score":0.8169999718666077},{"id":"https://openalex.org/keywords/output-gap","display_name":"output gap","score":0.6349999904632568},{"id":"https://openalex.org/keywords/phillips-curve","display_name":"Phillips curve","score":0.9350000023841858},{"id":"https://openalex.org/keywords/inflation-and-unemployment","display_name":"inflation and unemployment","score":0.8519999980926514},{"id":"https://openalex.org/keywords/monetary-policy","display_name":"monetary policy","score":0.7039999961853027},{"id":"https://openalex.org/keywords/2008-financial-crisis","display_name":"2008 financial crisis","score":0.6129999756813049}],"concepts":[{"id":"https://openalex.org/C126285488","wikidata":"https://www.wikidata.org/wiki/Q178476","display_name":"Monetary policy","level":2,"score":0.692062258720398},{"id":"https://openalex.org/C200941418","wikidata":"https://www.wikidata.org/wiki/Q273508","display_name":"Inflation (cosmology)","level":2,"score":0.5688457489013672},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.5324728488922119},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.5073921084403992},{"id":"https://openalex.org/C165556158","wikidata":"https://www.wikidata.org/wiki/Q83937","display_name":"Keynesian economics","level":1,"score":0.39905235171318054},{"id":"https://openalex.org/C121332964","wikidata":"https://www.wikidata.org/wiki/Q413","display_name":"Physics","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}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.5089/9781513536613.001","doi":"https://doi.org/10.5089/9781513536613.001","is_oa":true,"landing_page_url":"https://doi.org/10.5089/9781513536613.001","pdf_url":"https://www.elibrary.imf.org/downloadpdf/journals/001/2015/230/001.2015.issue-230-en.xml","source":{"id":"https://openalex.org/S4210171147","display_name":"IMF Working Paper","issn_l":"1018-5941","issn":["1018-5941","2227-8885"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["cwts-core"],"host_organization":"https://openalex.org/P4310316166","host_organization_name":"International Monetary Fund","host_organization_lineage":["https://openalex.org/P4310316166","https://openalex.org/P4310321776"],"host_organization_lineage_names":["International Monetary Fund","United Nations"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"IMF Working Papers","raw_type":"journal-article"}],"best_oa_location":{"id":"doi:10.5089/9781513536613.001","doi":"https://doi.org/10.5089/9781513536613.001","is_oa":true,"landing_page_url":"https://doi.org/10.5089/9781513536613.001","pdf_url":"https://www.elibrary.imf.org/downloadpdf/journals/001/2015/230/001.2015.issue-230-en.xml","source":{"id":"https://openalex.org/S4210171147","display_name":"IMF Working Paper","issn_l":"1018-5941","issn":["1018-5941","2227-8885"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["cwts-core"],"host_organization":"https://openalex.org/P4310316166","host_organization_name":"International Monetary Fund","host_organization_lineage":["https://openalex.org/P4310316166","https://openalex.org/P4310321776"],"host_organization_lineage_names":["International Monetary Fund","United Nations"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"IMF Working Papers","raw_type":"journal-article"},"sustainable_development_goals":[{"score":0.48510000109672546,"display_name":"Decent work and economic growth","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/W2953441996.pdf","grobid_xml":"https://content.openalex.org/works/W2953441996.grobid-xml"},"referenced_works_count":22,"referenced_works":["https://openalex.org/W1520263951","https://openalex.org/W1529322004","https://openalex.org/W1584845229","https://openalex.org/W1803174028","https://openalex.org/W1870901484","https://openalex.org/W1973399956","https://openalex.org/W2003423893","https://openalex.org/W2017341347","https://openalex.org/W2025617176","https://openalex.org/W2035777923","https://openalex.org/W2048989544","https://openalex.org/W2059215693","https://openalex.org/W2116834538","https://openalex.org/W2152556759","https://openalex.org/W2159755235","https://openalex.org/W2233905373","https://openalex.org/W3122003273","https://openalex.org/W3123499721","https://openalex.org/W3123675599","https://openalex.org/W3124180530","https://openalex.org/W4238774791","https://openalex.org/W4299302456"],"related_works":["https://openalex.org/W2535962101","https://openalex.org/W7110506735","https://openalex.org/W7096222088","https://openalex.org/W3150053919","https://openalex.org/W4389848580","https://openalex.org/W7044258134","https://openalex.org/W2140204079","https://openalex.org/W2185064045","https://openalex.org/W7016211163","https://openalex.org/W112040627"],"abstract_inverted_index":{"We":[0,60,96,121],"explore":[1],"two":[2],"issues":[3],"triggered":[4],"by":[5,71],"the":[6,17,37,45,53,80,89,99,111],"crisis.":[7],"First,":[8],"in":[9,57],"most":[10],"advanced":[11],"countries,":[12],"output":[13,73],"remains":[14],"far":[15],"below":[16],"pre-recession":[18],"trend,":[19],"suggesting":[20,33],"hysteresis.":[21],"Second,":[22],"while":[23],"inflation":[24,40],"has":[25,28,115],"decreased,":[26],"it":[27],"decreased":[29,109],"less":[30],"than":[31],"anticipated,":[32],"a":[34,63,84],"breakdown":[35],"of":[36,66,101,124],"relation":[38,87],"between":[39],"and":[41],"activity.":[42],"To":[43,78],"examine":[44,79],"first,":[46],"we":[47,82],"look":[48],"at":[49],"122":[50],"recessions":[51],"over":[52,88],"past":[54,90],"50":[55,91],"years":[56,92],"23":[58],"countries.":[59,95],"find":[61,97],"that":[62,98],"high":[64],"proportion":[65],"them":[67],"have":[68],"been":[69],"followed":[70],"lower":[72,76],"or":[74],"even":[75],"growth.":[77],"second,":[81],"estimate":[83],"Phillips":[85],"curve":[86],"for":[93,105,127],"20":[94],"effect":[100],"unemployment":[102],"on":[103],"inflation,":[104,108],"given":[106],"expected":[107],"until":[110],"early":[112],"1990s,":[113],"but":[114],"remained":[116],"roughly":[117],"stable":[118],"since":[119],"then.":[120],"draw":[122],"implications":[123],"our":[125],"findings":[126],"monetary":[128],"policy.":[129]},"counts_by_year":[{"year":2026,"cited_by_count":5},{"year":2025,"cited_by_count":3},{"year":2024,"cited_by_count":4},{"year":2023,"cited_by_count":6},{"year":2022,"cited_by_count":24},{"year":2021,"cited_by_count":9},{"year":2020,"cited_by_count":18},{"year":2019,"cited_by_count":6},{"year":2018,"cited_by_count":9},{"year":2017,"cited_by_count":10},{"year":2016,"cited_by_count":10}],"updated_date":"2026-10-16T09:59:22.235173","created_date":"2019-07-12T00:00:00"}