{"id":"https://openalex.org/W4382052024","doi":"https://doi.org/10.3386/w31382","title":"Anatomy of the Phillips Curve: Micro Evidence and Macro Implications","display_name":"Anatomy of the Phillips Curve: Micro Evidence and Macro Implications","publication_year":2023,"publication_date":"2023-06-01","ids":{"openalex":"https://openalex.org/W4382052024","doi":"https://doi.org/10.3386/w31382"},"language":"en","primary_location":{"id":"doi:10.3386/w31382","doi":"https://doi.org/10.3386/w31382","is_oa":true,"landing_page_url":"https://doi.org/10.3386/w31382","pdf_url":"https://doi.org/10.3386/w31382","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/w31382","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5086572092","display_name":"Luca Gagliardone","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/I57206974","display_name":"New York University","ror":"https://ror.org/0190ak572","country_code":"US","type":"education","lineage":["https://openalex.org/I57206974"]},{"id":"https://openalex.org/I98899809","display_name":"National Bank of Belgium","ror":"https://ror.org/054jfj847","country_code":"BE","type":"government","lineage":["https://openalex.org/I98899809"]}],"countries":["BE","US"],"is_corresponding":false,"raw_author_name":"Luca Gagliardone","raw_affiliation_strings":["Dept of Economics New York University NY, NY 10017 New York City, NY 11211 United States","Department of Economics New York University 269 Mercer Street, 7th Floor New York, NY 10003","NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138","National Bank of Belgium, Research Dept. Rue de Berlaimont 18 Brussels 10000 Belgium","New York University 44 West Fourth Street Suite 9-79 New York, NY 10012"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Dept of Economics New York University NY, NY 10017 New York City, NY 11211 United States","institution_ids":["https://openalex.org/I57206974"]},{"raw_affiliation_string":"Department of Economics New York University 269 Mercer Street, 7th Floor New York, NY 10003","institution_ids":["https://openalex.org/I57206974"]},{"raw_affiliation_string":"NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138","institution_ids":["https://openalex.org/I1321305853"]},{"raw_affiliation_string":"National Bank of Belgium, Research Dept. Rue de Berlaimont 18 Brussels 10000 Belgium","institution_ids":["https://openalex.org/I98899809"]},{"raw_affiliation_string":"New York University 44 West Fourth Street Suite 9-79 New York, NY 10012","institution_ids":["https://openalex.org/I57206974"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5003301823","display_name":"Mark L. Gertler","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/I57206974","display_name":"New York University","ror":"https://ror.org/0190ak572","country_code":"US","type":"education","lineage":["https://openalex.org/I57206974"]},{"id":"https://openalex.org/I98899809","display_name":"National Bank of Belgium","ror":"https://ror.org/054jfj847","country_code":"BE","type":"government","lineage":["https://openalex.org/I98899809"]}],"countries":["BE","US"],"is_corresponding":false,"raw_author_name":"Mark Gertler","raw_affiliation_strings":["Department of Economics New York University 269 Mercer Street , 7th Floor New York , NY 10003 and","Department of Economics New York University 269 Mercer Street, 7th Floor New York, NY 10003","Dept of Economics New York University NY, NY 10017 New York City, NY 11211 United States","NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138","National Bank of Belgium, Research Dept. Rue de Berlaimont 18 Brussels 10000 Belgium","New York University 44 West Fourth Street Suite 9-79 New York, NY 10012"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of Economics New York University 269 Mercer Street , 7th Floor New York , NY 10003 and","institution_ids":["https://openalex.org/I57206974"]},{"raw_affiliation_string":"Department of Economics New York University 269 Mercer Street, 7th Floor New York, NY 10003","institution_ids":["https://openalex.org/I57206974"]},{"raw_affiliation_string":"Dept of Economics New York University NY, NY 10017 New York City, NY 11211 United States","institution_ids":["https://openalex.org/I57206974"]},{"raw_affiliation_string":"NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138","institution_ids":["https://openalex.org/I1321305853"]},{"raw_affiliation_string":"National Bank of Belgium, Research Dept. Rue de Berlaimont 18 Brussels 10000 Belgium","institution_ids":["https://openalex.org/I98899809"]},{"raw_affiliation_string":"New York University 44 West Fourth Street Suite 9-79 New York, NY 10012","institution_ids":["https://openalex.org/I57206974"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5079295266","display_name":"Simone Lenzu","orcid":"https://orcid.org/0000-0002-4520-9778","observed_orcids":["https://orcid.org/0000-0002-4520-9778"]},"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/I57206974","display_name":"New York University","ror":"https://ror.org/0190ak572","country_code":"US","type":"education","lineage":["https://openalex.org/I57206974"]},{"id":"https://openalex.org/I98899809","display_name":"National Bank of Belgium","ror":"https://ror.org/054jfj847","country_code":"BE","type":"government","lineage":["https://openalex.org/I98899809"]}],"countries":["BE","US"],"is_corresponding":false,"raw_author_name":"Simone Lenzu","raw_affiliation_strings":["New York University 44 West Fourth Street Suite 9-79 New York, NY 10012","Department of Economics New York University 269 Mercer Street, 7th Floor New York, NY 10003","Dept of Economics New York University NY, NY 10017 New York City, NY 11211 United States","NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138","National Bank of Belgium, Research Dept. Rue de Berlaimont 18 Brussels 10000 Belgium"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"New York University 44 West Fourth Street Suite 9-79 New York, NY 10012","institution_ids":["https://openalex.org/I57206974"]},{"raw_affiliation_string":"Department of Economics New York University 269 Mercer Street, 7th Floor New York, NY 10003","institution_ids":["https://openalex.org/I57206974"]},{"raw_affiliation_string":"Dept of Economics New York University NY, NY 10017 New York City, NY 11211 United States","institution_ids":["https://openalex.org/I57206974"]},{"raw_affiliation_string":"NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138","institution_ids":["https://openalex.org/I1321305853"]},{"raw_affiliation_string":"National Bank of Belgium, Research Dept. Rue de Berlaimont 18 Brussels 10000 Belgium","institution_ids":["https://openalex.org/I98899809"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5009730305","display_name":"Joris Tielens","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/I57206974","display_name":"New York University","ror":"https://ror.org/0190ak572","country_code":"US","type":"education","lineage":["https://openalex.org/I57206974"]},{"id":"https://openalex.org/I98899809","display_name":"National Bank of Belgium","ror":"https://ror.org/054jfj847","country_code":"BE","type":"government","lineage":["https://openalex.org/I98899809"]}],"countries":["BE","US"],"is_corresponding":false,"raw_author_name":"Joris Tielens","raw_affiliation_strings":["National Bank of Belgium, Research Dept. Rue de Berlaimont 18 Brussels 10000 Belgium","Department of Economics New York University 269 Mercer Street, 7th Floor New York, NY 10003","Dept of Economics New York University NY, NY 10017 New York City, NY 11211 United States","NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138","New York University 44 West Fourth Street Suite 9-79 New York, NY 10012"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"National Bank of Belgium, Research Dept. Rue de Berlaimont 18 Brussels 10000 Belgium","institution_ids":["https://openalex.org/I98899809"]},{"raw_affiliation_string":"Department of Economics New York University 269 Mercer Street, 7th Floor New York, NY 10003","institution_ids":["https://openalex.org/I57206974"]},{"raw_affiliation_string":"Dept of Economics New York University NY, NY 10017 New York City, NY 11211 United States","institution_ids":["https://openalex.org/I57206974"]},{"raw_affiliation_string":"NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138","institution_ids":["https://openalex.org/I1321305853"]},{"raw_affiliation_string":"New York University 44 West Fourth Street Suite 9-79 New York, NY 10012","institution_ids":["https://openalex.org/I57206974"]}]}],"institutions":[],"countries_distinct_count":2,"institutions_distinct_count":3,"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":0.9984999895095825,"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":0.9984999895095825,"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/T11059","display_name":"Market Dynamics and Volatility","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/T11898","display_name":"Economics of Agriculture and Food Markets","score":9.999999747378752e-05,"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/phillips-curve","display_name":"Phillips curve","score":0.8889999985694885},{"id":"https://openalex.org/keywords/new-keynesian-phillips-curve","display_name":"New Keynesian Phillips curve","score":0.8930000066757202},{"id":"https://openalex.org/keywords/marginal-cost","display_name":"marginal cost","score":0.9309999942779541},{"id":"https://openalex.org/keywords/sticky-prices","display_name":"price stickiness","score":0.7839999794960022},{"id":"https://openalex.org/keywords/strategic-complementarity","display_name":"strategic complementarity","score":0.7730000019073486},{"id":"https://openalex.org/keywords/manufacturing-industry","display_name":"manufacturing industry","score":0.703000009059906},{"id":"https://openalex.org/keywords/output-gap","display_name":"output gap","score":0.6669999957084656},{"id":"https://openalex.org/keywords/inflation-pass-through","display_name":"inflation pass-through","score":0.628000020980835},{"id":"https://openalex.org/keywords/oil-price-shocks","display_name":"oil price shocks","score":0.8619999885559082},{"id":"https://openalex.org/keywords/supply-shocks","display_name":"supply shocks","score":0.9929999709129333},{"id":"https://openalex.org/keywords/belgian-manufacturing","display_name":"Belgian manufacturing","score":0.5640000104904175}],"concepts":[{"id":"https://openalex.org/C166955791","wikidata":"https://www.wikidata.org/wiki/Q629579","display_name":"Macro","level":2,"score":0.7581967115402222},{"id":"https://openalex.org/C105702510","wikidata":"https://www.wikidata.org/wiki/Q514","display_name":"Anatomy","level":1,"score":0.4007294476032257},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.33505693078041077},{"id":"https://openalex.org/C71924100","wikidata":"https://www.wikidata.org/wiki/Q11190","display_name":"Medicine","level":0,"score":0.27796825766563416},{"id":"https://openalex.org/C199360897","wikidata":"https://www.wikidata.org/wiki/Q9143","display_name":"Programming language","level":1,"score":0.0}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.3386/w31382","doi":"https://doi.org/10.3386/w31382","is_oa":true,"landing_page_url":"https://doi.org/10.3386/w31382","pdf_url":"https://doi.org/10.3386/w31382","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/w31382","doi":"https://doi.org/10.3386/w31382","is_oa":true,"landing_page_url":"https://doi.org/10.3386/w31382","pdf_url":"https://doi.org/10.3386/w31382","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":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":true,"pdf":true},"content_urls":{"pdf":"https://content.openalex.org/works/W4382052024.pdf","grobid_xml":"https://content.openalex.org/works/W4382052024.grobid-xml"},"referenced_works_count":62,"referenced_works":["https://openalex.org/W988647837","https://openalex.org/W1556477715","https://openalex.org/W1582605398","https://openalex.org/W1586450178","https://openalex.org/W1995278743","https://openalex.org/W2009189627","https://openalex.org/W2052662085","https://openalex.org/W2053409600","https://openalex.org/W2067094520","https://openalex.org/W2076750586","https://openalex.org/W2104637471","https://openalex.org/W2111286724","https://openalex.org/W2112062416","https://openalex.org/W2114597179","https://openalex.org/W2127680685","https://openalex.org/W2128873631","https://openalex.org/W2134246329","https://openalex.org/W2135195922","https://openalex.org/W2135860498","https://openalex.org/W2138520443","https://openalex.org/W2144395073","https://openalex.org/W2145106259","https://openalex.org/W2147146578","https://openalex.org/W2162094858","https://openalex.org/W2163693971","https://openalex.org/W2264825150","https://openalex.org/W2343185847","https://openalex.org/W2736598693","https://openalex.org/W2784791315","https://openalex.org/W2887758799","https://openalex.org/W2889620376","https://openalex.org/W2891925653","https://openalex.org/W2914228272","https://openalex.org/W2943371877","https://openalex.org/W2954975919","https://openalex.org/W3022829474","https://openalex.org/W3022991845","https://openalex.org/W3046044289","https://openalex.org/W3121936181","https://openalex.org/W3123935426","https://openalex.org/W3124380240","https://openalex.org/W3131571940","https://openalex.org/W3135463143","https://openalex.org/W3145946332","https://openalex.org/W3160655129","https://openalex.org/W3217520186","https://openalex.org/W4230585516","https://openalex.org/W4231209421","https://openalex.org/W4231334164","https://openalex.org/W4247765758","https://openalex.org/W4283804957","https://openalex.org/W4285200034","https://openalex.org/W4298406791","https://openalex.org/W4324123627","https://openalex.org/W4367674490","https://openalex.org/W4386445216","https://openalex.org/W4392221875","https://openalex.org/W4399487660","https://openalex.org/W4411504405","https://openalex.org/W6676546234","https://openalex.org/W6763171975","https://openalex.org/W6784200566"],"related_works":["https://openalex.org/W7084596779","https://openalex.org/W3122651543","https://openalex.org/W3124730154","https://openalex.org/W2204415033","https://openalex.org/W3027449075","https://openalex.org/W7100594270","https://openalex.org/W7096443704","https://openalex.org/W1484705015","https://openalex.org/W2283341496","https://openalex.org/W3023113211"],"abstract_inverted_index":{"We":[0],"use":[1],"a":[2,47,57,90,163],"unique":[3],"high-frequency":[4],"micro-dataset":[5],"to":[6,139],"estimate":[7],"the":[8,11,15,25,38,50,53,62,68,77,94,102,106,114,117,123,132,140,149,157,168],"slope":[9,65,92],"of":[10,14,52,79,105,125,134,148,151,166,170],"primitive":[12,69],"form":[13],"New":[16],"Keynesian":[17],"Phillips":[18,63,97,160],"curve,":[19,98],"which":[20,99],"features":[21],"marginal":[22,95,126,135,158],"cost":[23,127,136],"as":[24],"relevant":[26],"real":[27],"activity":[28],"variable.Our":[29],"dataset":[30],"encompasses":[31],"product-level":[32],"prices,":[33],"costs,":[34],"and":[35,82],"output":[36,110,141],"within":[37],"Belgian":[39],"manufacturing":[40],"sector":[41],"over":[42],"twenty":[43],"years,":[44],"recorded":[45],"at":[46],"quarterly":[48],"frequency.Leveraging":[49],"richness":[51],"data,":[54],"we":[55,154],"adopt":[56],"\"bottom-up\"":[58],"approach":[59],"that":[60,71],"identifies":[61],"curve's":[64],"by":[66,119],"estimating":[67],"parameters":[70],"govern":[72],"firms'":[73],"pricing":[74],"behavior,":[75],"including":[76],"degrees":[78],"price":[80,86],"rigidity":[81],"strategic":[83],"complementarities":[84],"in":[85,113,137],"setting.Our":[87],"estimates":[88,104],"indicate":[89],"high":[91],"for":[93],"cost-based":[96,159],"contrasts":[100],"with":[101],"low":[103],"conventional":[107],"unemployment":[108],"or":[109],"gap-based":[111],"formulations":[112],"literature.We":[115],"reconcile":[116],"difference":[118],"showing":[120],"that,":[121],"although":[122],"pass-through":[124],"into":[128],"inflation":[129],"is":[130,143],"substantial,":[131],"elasticity":[133],"relation":[138],"gap":[142],"low.Furthermore,":[144],"through":[145],"an":[146],"examination":[147],"transmission":[150],"oil":[152],"shocks,":[153],"illustrate":[155],"how":[156],"curve":[161],"offers":[162],"transparent":[164],"means":[165],"capturing":[167],"impact":[169],"supply":[171],"shocks":[172],"on":[173],"inflation.":[174]},"counts_by_year":[{"year":2026,"cited_by_count":3},{"year":2025,"cited_by_count":3},{"year":2024,"cited_by_count":6},{"year":2023,"cited_by_count":1}],"updated_date":"2026-10-30T12:39:25.321706","created_date":"2023-06-27T00:00:00"}
