{"id":"https://openalex.org/W4285809232","doi":"https://doi.org/10.3386/w30264","title":"New Pricing Models, Same Old Phillips Curves?","display_name":"New Pricing Models, Same Old Phillips Curves?","publication_year":2022,"publication_date":"2022-07-01","ids":{"openalex":"https://openalex.org/W4285809232","doi":"https://doi.org/10.3386/w30264"},"language":"en","primary_location":{"id":"doi:10.3386/w30264","doi":"https://doi.org/10.3386/w30264","is_oa":true,"landing_page_url":"https://doi.org/10.3386/w30264","pdf_url":"https://doi.org/10.3386/w30264","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/w30264","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5009833034","display_name":"Adrien Auclert","orcid":"https://orcid.org/0009-0009-6622-1440","observed_orcids":["https://orcid.org/0009-0009-6622-1440"]},"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/I97018004","display_name":"Stanford University","ror":"https://ror.org/00f54p054","country_code":"US","type":"education","lineage":["https://openalex.org/I97018004"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Adrien Auclert","raw_affiliation_strings":["Department of Economics Stanford University 579 Jane Stanford Way Stanford , CA 94305 and","1805 Cambridge Street Littauer G29 Cambridge, MA 02138 United States","NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of Economics Stanford University 579 Jane Stanford Way Stanford , CA 94305 and","institution_ids":["https://openalex.org/I97018004"]},{"raw_affiliation_string":"1805 Cambridge Street Littauer G29 Cambridge, MA 02138 United States","institution_ids":[]},{"raw_affiliation_string":"NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138","institution_ids":["https://openalex.org/I1321305853"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5069823320","display_name":"Rodolfo Dinis Rigato","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I111979921","display_name":"Northwestern University","ror":"https://ror.org/000e0be47","country_code":"US","type":"education","lineage":["https://openalex.org/I111979921"]},{"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"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Rodolfo Rigato","raw_affiliation_strings":["1050 Massachusetts Avenue Cambridge , MA 02138","Department of Economics Northwestern University 2211 Campus Drive Evanston, IL 60208 and","NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"1050 Massachusetts Avenue Cambridge , MA 02138","institution_ids":[]},{"raw_affiliation_string":"Department of Economics Northwestern University 2211 Campus Drive Evanston, IL 60208 and","institution_ids":["https://openalex.org/I111979921"]},{"raw_affiliation_string":"NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138","institution_ids":["https://openalex.org/I1321305853"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5021522360","display_name":"Matthew Rognlie","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I111979921","display_name":"Northwestern University","ror":"https://ror.org/000e0be47","country_code":"US","type":"education","lineage":["https://openalex.org/I111979921"]},{"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"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Matthew Rognlie","raw_affiliation_strings":["Department of Economics Northwestern University 2211 Campus Drive Evanston , IL 60208 and","NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of Economics Northwestern University 2211 Campus Drive Evanston , IL 60208 and","institution_ids":["https://openalex.org/I111979921"]},{"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/A5049361598","display_name":"Ludwig Straub","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"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Ludwig Straub","raw_affiliation_strings":["Department of Economics Harvard University Littauer 211 Cambridge, MA 02139","NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of Economics Harvard University Littauer 211 Cambridge, MA 02139","institution_ids":["https://openalex.org/I136199984"]},{"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":4,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":null,"has_fulltext":true,"cited_by_count":18,"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":0.9804999828338623,"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":0.9804999828338623,"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":0.017999999225139618,"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":0.0006000000284984708,"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/calvo-pricing","display_name":"Calvo pricing","score":0.6039999723434448},{"id":"https://openalex.org/keywords/phillips-curve","display_name":"Phillips curve","score":0.8709999918937683},{"id":"https://openalex.org/keywords/new-keynesian-phillips-curve","display_name":"New Keynesian Phillips curve","score":0.8899999856948853},{"id":"https://openalex.org/keywords/price-adjustment-frequency","display_name":"price adjustment frequency","score":0.5519999861717224}],"concepts":[{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.4328123927116394},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.43099191784858704},{"id":"https://openalex.org/C2778774626","wikidata":"https://www.wikidata.org/wiki/Q220841","display_name":"Phillips curve","level":3,"score":0.42295265197753906},{"id":"https://openalex.org/C33923547","wikidata":"https://www.wikidata.org/wiki/Q395","display_name":"Mathematics","level":0,"score":0.4107237458229065},{"id":"https://openalex.org/C144237770","wikidata":"https://www.wikidata.org/wiki/Q747534","display_name":"Mathematical economics","level":1,"score":0.4033921957015991},{"id":"https://openalex.org/C165556158","wikidata":"https://www.wikidata.org/wiki/Q83937","display_name":"Keynesian economics","level":1,"score":0.2787588834762573},{"id":"https://openalex.org/C126285488","wikidata":"https://www.wikidata.org/wiki/Q178476","display_name":"Monetary policy","level":2,"score":0.0}],"mesh":[],"locations_count":2,"locations":[{"id":"doi:10.3386/w30264","doi":"https://doi.org/10.3386/w30264","is_oa":true,"landing_page_url":"https://doi.org/10.3386/w30264","pdf_url":"https://doi.org/10.3386/w30264","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"},{"id":"pmh:oai:RePEc:nbr:nberwo:30264","doi":null,"is_oa":false,"landing_page_url":"http://www.nber.org/papers/w30264.pdf","pdf_url":"http://www.nber.org/papers/w30264.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"}],"best_oa_location":{"id":"doi:10.3386/w30264","doi":"https://doi.org/10.3386/w30264","is_oa":true,"landing_page_url":"https://doi.org/10.3386/w30264","pdf_url":"https://doi.org/10.3386/w30264","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":[],"study_designs":[],"awards":[{"id":"https://openalex.org/G1889859195","display_name":"CAREER: Macroeconomic Implications of Microeconomic Heterogeneity","funder_award_id":"2042691","funder_id":"https://openalex.org/F4320306076","funder_display_name":"National Science Foundation"},{"id":"https://openalex.org/G674638365","display_name":"Heterogeneity, Household Behavior, and the Transmission of Aggregate Shocks","funder_award_id":"1851717","funder_id":"https://openalex.org/F4320306076","funder_display_name":"National Science Foundation"}],"funders":[{"id":"https://openalex.org/F4320306076","display_name":"National Science Foundation","ror":"https://ror.org/021nxhr62"}],"has_content":{"grobid_xml":true,"pdf":true},"content_urls":{"pdf":"https://content.openalex.org/works/W4285809232.pdf","grobid_xml":"https://content.openalex.org/works/W4285809232.grobid-xml"},"referenced_works_count":87,"referenced_works":["https://openalex.org/W1481005446","https://openalex.org/W1497779315","https://openalex.org/W1533538566","https://openalex.org/W1536349373","https://openalex.org/W1578666065","https://openalex.org/W1586450178","https://openalex.org/W1589991008","https://openalex.org/W1972083963","https://openalex.org/W1972190631","https://openalex.org/W1995278743","https://openalex.org/W2008402829","https://openalex.org/W2011224622","https://openalex.org/W2016187599","https://openalex.org/W2038998530","https://openalex.org/W2053409600","https://openalex.org/W2064098724","https://openalex.org/W2066613124","https://openalex.org/W2070424497","https://openalex.org/W2097770156","https://openalex.org/W2113032612","https://openalex.org/W2124091152","https://openalex.org/W2128411431","https://openalex.org/W2128628752","https://openalex.org/W2128873631","https://openalex.org/W2134689202","https://openalex.org/W2137810944","https://openalex.org/W2140658152","https://openalex.org/W2145106259","https://openalex.org/W2147895575","https://openalex.org/W2153903591","https://openalex.org/W2154014142","https://openalex.org/W2159396019","https://openalex.org/W2163693971","https://openalex.org/W2167796198","https://openalex.org/W2181505420","https://openalex.org/W2248231209","https://openalex.org/W2262302297","https://openalex.org/W2316506176","https://openalex.org/W2343185847","https://openalex.org/W2346840214","https://openalex.org/W2573899171","https://openalex.org/W2595897327","https://openalex.org/W2598719745","https://openalex.org/W2736598693","https://openalex.org/W2737170324","https://openalex.org/W2889877526","https://openalex.org/W2890348142","https://openalex.org/W2890450911","https://openalex.org/W2890706578","https://openalex.org/W2891925653","https://openalex.org/W2964550494","https://openalex.org/W3022991845","https://openalex.org/W3111279571","https://openalex.org/W3121403315","https://openalex.org/W3122120094","https://openalex.org/W3122524379","https://openalex.org/W3123284319","https://openalex.org/W3123873541","https://openalex.org/W3124029109","https://openalex.org/W3124139982","https://openalex.org/W3124699338","https://openalex.org/W3157390639","https://openalex.org/W3160655129","https://openalex.org/W3217520186","https://openalex.org/W4210365901","https://openalex.org/W4230164823","https://openalex.org/W4230585516","https://openalex.org/W4245419199","https://openalex.org/W4245458201","https://openalex.org/W4247765758","https://openalex.org/W4252716298","https://openalex.org/W4283804957","https://openalex.org/W4285539503","https://openalex.org/W4297966186","https://openalex.org/W4300433564","https://openalex.org/W4301892349","https://openalex.org/W4311244934","https://openalex.org/W4323337413","https://openalex.org/W4385367571","https://openalex.org/W6631860074","https://openalex.org/W6676546234","https://openalex.org/W6682842613","https://openalex.org/W6731546999","https://openalex.org/W6751226739","https://openalex.org/W6763171975","https://openalex.org/W6784200566","https://openalex.org/W6854884896"],"related_works":["https://openalex.org/W7139958534","https://openalex.org/W7099281123","https://openalex.org/W7098875353","https://openalex.org/W2182286524","https://openalex.org/W2112062416","https://openalex.org/W4391328791","https://openalex.org/W1569130063","https://openalex.org/W7030223198","https://openalex.org/W7100012042","https://openalex.org/W3121340148"],"abstract_inverted_index":{"We":[0],"show":[1,67],"that,":[2,69],"in":[3,16,29,70],"a":[4,50,79,100,113],"broad":[5],"class":[6],"of":[7,13,52,63,92],"menu":[8,43,93,101],"cost":[9,44,94,102],"models,":[10,55],"the":[11,26,41,58,96,106],"dynamics":[12],"aggregate":[14,22],"inflation":[15],"response":[17],"to":[18,21,49,88],"arbitrary":[19],"shocks":[20],"costs":[23],"are":[24],"nearly":[25],"same":[27],"as":[28],"Calvo":[30,35,81],"models":[31],"with":[32,112],"suitably":[33],"chosen":[34],"adjustment":[36],"frequencies.We":[37],"first":[38],"prove":[39],"that":[40],"canonical":[42],"model":[45,103],"is":[46,76],"first-order":[47],"equivalent":[48],"mixture":[51,75],"two":[53],"time-dependent":[54],"which":[56],"reflect":[57],"extensive":[59],"and":[60],"intensive":[61],"margins":[62],"price":[64],"adjustment.We":[65],"then":[66],"numerically":[68],"any":[71],"plausible":[72],"parameterization,":[73],"this":[74],"well-approximated":[77],"by":[78],"single":[80],"model.This":[82],"close":[83],"numerical":[84],"fit":[85],"carries":[86],"over":[87],"other":[89],"standard":[90],"specifications":[91],"models.Thus,":[95],"Phillips":[97,109],"curve":[98],"for":[99],"looks":[104],"like":[105],"New":[107],"Keynesian":[108],"curve,":[110],"but":[111],"higher":[114],"slope.":[115]},"counts_by_year":[{"year":2026,"cited_by_count":1},{"year":2025,"cited_by_count":1},{"year":2024,"cited_by_count":6},{"year":2023,"cited_by_count":5},{"year":2022,"cited_by_count":5}],"updated_date":"2026-10-30T12:39:25.321706","created_date":"2022-07-19T00:00:00"}
