{"id":"https://openalex.org/W4407632104","doi":"https://doi.org/10.59576/sr.1195","title":"Micro and Macro Cost-Price Dynamics in Normal Times and During Inflation Surges","display_name":"Micro and Macro Cost-Price Dynamics in Normal Times and During Inflation Surges","publication_year":2025,"publication_date":"2025-02-01","ids":{"openalex":"https://openalex.org/W4407632104","doi":"https://doi.org/10.59576/sr.1195"},"language":"en","primary_location":{"id":"doi:10.59576/sr.1195","doi":"https://doi.org/10.59576/sr.1195","is_oa":true,"landing_page_url":"https://doi.org/10.59576/sr.1195","pdf_url":"https://doi.org/10.59576/sr.1195","source":{"id":"https://openalex.org/S4393919745","display_name":"Staff reports","issn_l":"2836-3817","issn":["2836-3817"],"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Staff Reports (Federal Reserve Bank of New York)","raw_type":"report"},"volume":null,"type":"report","is_traditional":false,"indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"bronze","oa_url":"https://doi.org/10.59576/sr.1195","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/I57206974","display_name":"New York University","ror":"https://ror.org/0190ak572","country_code":"US","type":"education","lineage":["https://openalex.org/I57206974"]}],"countries":["US"],"is_corresponding":true,"raw_author_name":"Luca Gagliardone","raw_affiliation_strings":["New York University | Economics Department","New York University | Economics Department, 19 West 4th Street, New York, NY 10012, United States"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"New York University | Economics Department","institution_ids":["https://openalex.org/I57206974"]},{"raw_affiliation_string":"New York University | Economics Department, 19 West 4th Street, New York, NY 10012, United States","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"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Mark Gertler","raw_affiliation_strings":["National Bureau of Economic Research (NBER)","National Bureau of Economic Research (NBER), 1050 Massachusetts Avenue, Cambridge, MA 02138, United States","New York University - Leonard N. Stern School of Business - Department of Economics","New York University - Leonard N. Stern School of Business - Department of Economics, 269 Mercer Street, 7th Floor, New York, NY 10003, United States"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"National Bureau of Economic Research (NBER)","institution_ids":["https://openalex.org/I1321305853"]},{"raw_affiliation_string":"National Bureau of Economic Research (NBER), 1050 Massachusetts Avenue, Cambridge, MA 02138, United States","institution_ids":["https://openalex.org/I1321305853"]},{"raw_affiliation_string":"New York University - Leonard N. Stern School of Business - Department of Economics","institution_ids":["https://openalex.org/I57206974"]},{"raw_affiliation_string":"New York University - Leonard N. Stern School of Business - Department of Economics, 269 Mercer Street, 7th Floor, New York, NY 10003, United States","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/I57206974","display_name":"New York University","ror":"https://ror.org/0190ak572","country_code":"US","type":"education","lineage":["https://openalex.org/I57206974"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Simone Lenzu","raw_affiliation_strings":["New York University, Stern School of Business","New York University, Stern School of Business, Stern School of Business, 44 West 4th Street, New York, NY 10012-1126, United States"],"raw_orcid":"https://orcid.org/0000-0002-4520-9778","affiliations":[{"raw_affiliation_string":"New York University, Stern School of Business","institution_ids":["https://openalex.org/I57206974"]},{"raw_affiliation_string":"New York University, Stern School of Business, Stern School of Business, 44 West 4th Street, New York, NY 10012-1126, United States","institution_ids":["https://openalex.org/I57206974"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5009730305","display_name":"Joris Tielens","orcid":null,"observed_orcids":[]},"institutions":[{"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"],"is_corresponding":false,"raw_author_name":"Joris Tielens","raw_affiliation_strings":["National Bank of Belgium","National Bank of Belgium, Research Department, Boulevard de Berlaimont 14, B-1000 Brussels, 1000, Belgium"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"National Bank of Belgium","institution_ids":["https://openalex.org/I98899809"]},{"raw_affiliation_string":"National Bank of Belgium, Research Department, Boulevard de Berlaimont 14, B-1000 Brussels, 1000, Belgium","institution_ids":["https://openalex.org/I98899809"]}]}],"institutions":[],"countries_distinct_count":2,"institutions_distinct_count":3,"corresponding_author_ids":["https://openalex.org/A5086572092"],"corresponding_institution_ids":["https://openalex.org/I57206974"],"apc_list":null,"apc_paid":null,"fwci":null,"has_fulltext":true,"cited_by_count":9,"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":0.9814000129699707,"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":0.9814000129699707,"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/T11043","display_name":"Merger and Competition Analysis","score":0.004800000227987766,"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/T11161","display_name":"Consumer Market Behavior and Pricing","score":0.00279999990016222,"subfield":{"id":"https://openalex.org/subfields/1406","display_name":"Marketing"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/inflation-surge","display_name":"inflation surge","score":0.7369999885559082},{"id":"https://openalex.org/keywords/price-differentials","display_name":"price differentials","score":0.8040000200271606},{"id":"https://openalex.org/keywords/optimal-pricing","display_name":"optimal pricing","score":0.675000011920929},{"id":"https://openalex.org/keywords/cost-shocks","display_name":"cost shocks","score":0.7080000042915344},{"id":"https://openalex.org/keywords/state-dependent-pricing","display_name":"state-dependent pricing","score":0.7070000171661377},{"id":"https://openalex.org/keywords/strategic-complementarity","display_name":"strategic complementarity","score":0.9950000047683716},{"id":"https://openalex.org/keywords/aggregate-inflation","display_name":"aggregate inflation","score":0.824999988079071},{"id":"https://openalex.org/keywords/production-costs","display_name":"production costs","score":0.5529999732971191},{"id":"https://openalex.org/keywords/covid-19","display_name":"COVID-19 pandemic","score":0.8859999775886536}],"concepts":[{"id":"https://openalex.org/C200941418","wikidata":"https://www.wikidata.org/wiki/Q273508","display_name":"Inflation (cosmology)","level":2,"score":0.7551478147506714},{"id":"https://openalex.org/C166955791","wikidata":"https://www.wikidata.org/wiki/Q629579","display_name":"Macro","level":2,"score":0.7406293153762817},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.6609383225440979},{"id":"https://openalex.org/C165556158","wikidata":"https://www.wikidata.org/wiki/Q83937","display_name":"Keynesian economics","level":1,"score":0.4566586911678314},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.4390656352043152},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.3907544016838074},{"id":"https://openalex.org/C139719470","wikidata":"https://www.wikidata.org/wiki/Q39680","display_name":"Macroeconomics","level":1,"score":0.37498804926872253},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.18708539009094238},{"id":"https://openalex.org/C121332964","wikidata":"https://www.wikidata.org/wiki/Q413","display_name":"Physics","level":0,"score":0.13743779063224792},{"id":"https://openalex.org/C33332235","wikidata":"https://www.wikidata.org/wiki/Q18362","display_name":"Theoretical physics","level":1,"score":0.06180304288864136},{"id":"https://openalex.org/C199360897","wikidata":"https://www.wikidata.org/wiki/Q9143","display_name":"Programming language","level":1,"score":0.0}],"mesh":[],"locations_count":5,"locations":[{"id":"doi:10.59576/sr.1195","doi":"https://doi.org/10.59576/sr.1195","is_oa":true,"landing_page_url":"https://doi.org/10.59576/sr.1195","pdf_url":"https://doi.org/10.59576/sr.1195","source":{"id":"https://openalex.org/S4393919745","display_name":"Staff reports","issn_l":"2836-3817","issn":["2836-3817"],"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Staff Reports (Federal Reserve Bank of New York)","raw_type":"report"},{"id":"doi:10.3386/w33478","doi":"https://doi.org/10.3386/w33478","is_oa":true,"landing_page_url":"https://doi.org/10.3386/w33478","pdf_url":"https://doi.org/10.3386/w33478","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":"doi:10.2139/ssrn.6772578","doi":"https://doi.org/10.2139/ssrn.6772578","is_oa":true,"landing_page_url":"https://doi.org/10.2139/ssrn.6772578","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"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":"posted-content"},{"id":"doi:10.2139/ssrn.5140723","doi":"https://doi.org/10.2139/ssrn.5140723","is_oa":true,"landing_page_url":"https://doi.org/10.2139/ssrn.5140723","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"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":"posted-content"},{"id":"pmh:oai:RePEc:nbr:nberwo:33478","doi":null,"is_oa":false,"landing_page_url":"http://www.nber.org/papers/w33478.pdf","pdf_url":"http://www.nber.org/papers/w33478.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:10.59576/sr.1195","doi":"https://doi.org/10.59576/sr.1195","is_oa":true,"landing_page_url":"https://doi.org/10.59576/sr.1195","pdf_url":"https://doi.org/10.59576/sr.1195","source":{"id":"https://openalex.org/S4393919745","display_name":"Staff reports","issn_l":"2836-3817","issn":["2836-3817"],"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Staff Reports (Federal Reserve Bank of New York)","raw_type":"report"},"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":true,"grobid_xml":true},"content_urls":{"pdf":"https://content.openalex.org/works/W4407632104.pdf","grobid_xml":"https://content.openalex.org/works/W4407632104.grobid-xml"},"referenced_works_count":38,"referenced_works":["https://openalex.org/W988647837","https://openalex.org/W1533538566","https://openalex.org/W1538117216","https://openalex.org/W1596337612","https://openalex.org/W1932219424","https://openalex.org/W1973266492","https://openalex.org/W1978481286","https://openalex.org/W1995278743","https://openalex.org/W2064098724","https://openalex.org/W2066613124","https://openalex.org/W2090148352","https://openalex.org/W2104637471","https://openalex.org/W2107741948","https://openalex.org/W2110845124","https://openalex.org/W2112062416","https://openalex.org/W2150859583","https://openalex.org/W2151786041","https://openalex.org/W2163693971","https://openalex.org/W2181505420","https://openalex.org/W2333677440","https://openalex.org/W2343185847","https://openalex.org/W2346840214","https://openalex.org/W2515346722","https://openalex.org/W2790090703","https://openalex.org/W3122465586","https://openalex.org/W3122803699","https://openalex.org/W3123044398","https://openalex.org/W3124497574","https://openalex.org/W3182771953","https://openalex.org/W3213561563","https://openalex.org/W4382118282","https://openalex.org/W4386445216","https://openalex.org/W4389403074","https://openalex.org/W4391751137","https://openalex.org/W4392221875","https://openalex.org/W4399279484","https://openalex.org/W4404712830","https://openalex.org/W4405172918"],"related_works":["https://openalex.org/W7111795599","https://openalex.org/W3125915365","https://openalex.org/W4409256589","https://openalex.org/W7123362797","https://openalex.org/W1534274360","https://openalex.org/W3122089241","https://openalex.org/W2074003325","https://openalex.org/W7100033848","https://openalex.org/W7070620049","https://openalex.org/W7171977529"],"abstract_inverted_index":{"We":[0],"develop":[1],"a":[2,61,78],"unified":[3],"approach":[4],"to":[5,16,51],"studying":[6],"cost-price":[7,91],"dynamics":[8,92],"in":[9,14,101],"the":[10,19,26,41,68,76,89,94,98],"cross-section":[11],"of":[12,22,28,43,56,70,93,105],"firms":[13],"order":[15],"jointly":[17],"explain":[18],"time":[20],"series":[21],"aggregate":[23,71],"inflation":[24,36,102],"and":[25,35,48,64,97,103],"frequency":[27,104],"price":[29,57,106],"changes,":[30],"both":[31,88],"during":[32],"normal":[33],"times":[34],"surges.A":[37],"key":[38],"novelty":[39],"is":[40],"use":[42],"microdata":[44],"on":[45,67],"firms'":[46],"prices":[47],"production":[49],"costs":[50],"construct":[52],"an":[53],"empirical":[54],"measure":[55],"gaps-the":[58],"deviation":[59],"between":[60],"firm's":[62],"listed":[63],"optimal":[65],"price.Conditional":[66],"path":[69],"cost":[72],"shocks":[73],"extracted":[74],"from":[75],"data,":[77],"state-dependent":[79],"pricing":[80],"model":[81],"with":[82],"strategic":[83],"complementarities":[84],"accounts":[85],"well":[86],"for":[87],"linear":[90],"pre-pandemic":[95],"period":[96],"nonlinear":[99],"increase":[100],"adjustment":[107],"that":[108],"followed.":[109]},"counts_by_year":[{"year":2026,"cited_by_count":3},{"year":2025,"cited_by_count":5},{"year":2023,"cited_by_count":1}],"updated_date":"2026-11-12T12:28:57.059296","created_date":"2025-02-18T00:00:00"}
