Sources and Shapes of Economic Fluctuations
{'Code': '04050100', 'Directorate': {'Abbreviation': 'SBE', 'LongName': 'Direct For Social, Behav & Economic Scie'}, 'Division': {'Abbreviation': 'SES', 'LongName': 'Divn Of Social and Economic Sciences'}}
{'SignBlockName': 'jerry blackmon', 'PO_EMAI': None, 'PO_PHON': None}
The past work of the investigator on business cycles has                        proceeded along two related lines.  The first has been                          theoretical, focussing on models of nominal price and wage                      setting under imperfect competition and their implications for                  macroeconomic fluctuations.  The other has been empirical,                      focussing on the origin and the transmission mechanism of shocks                on macroeconomic fluctuations.  The completed work has led to a                 better understanding of the reaction time of prices to wages and                wages to prices.  The nature of the interactions between price                  decisions, it was found, can lead to aggregate nominal price                    rigidities.   The present research plan continues the basic                     monopolistically competitive framework, but with some shift in                  focus toward sectoral evidence and the relation between sectoral                and aggregate fluctuations.  Within the projected disaggregated                 formulations, it will be possible to consider the effects of both               sector and aggregate shocks on sector output, prices, wages, and                employment.  Some of the results already obtained suggest that                  productivity shocks play a particularly important role in the                   sectoral fluctuation of these variables.  The planned extensions                of the original study will help to reveal the facts about local                 shocks, whether from the supply or the demand side, and the                     nature of their relations across sectors.  The focus on wage                    setting also will enhance our understanding of its role in the                  dynamic adjustment process.
{'FirstName': 'Olivier', 'LastName': 'Blanchard', 'PI_MID_INIT': 'J', 'PI_SUFX_NAME': None, 'PI_FULL_NAME': 'Olivier J Blanchard', 'EmailAddress': 'blanchar@mit.edu', 'NSF_ID': '000107093', 'StartDate': '08/01/1988', 'EndDate': None, 'RoleCode': 'Principal Investigator'}
{'Name': 'National Bureau of Economic Research Inc', 'CityName': 'CAMBRIDGE', 'ZipCode': '021385359', 'PhoneNumber': '6178683900', 'StreetAddress': '1050 MASSACHUSETTS AVE', 'StreetAddress2': None, 'CountryName': 'United States', 'StateName': 'Massachusetts', 'StateCode': 'MA', 'CONGRESSDISTRICT': '05', 'CONGRESS_DISTRICT_ORG': 'MA05', 'ORG_UEI_NUM': 'GT28BRBA2Q49', 'ORG_LGL_BUS_NAME': 'NATIONAL BUREAU OF ECONOMIC RESEARCH INC', 'ORG_PRNT_UEI_NUM': None}
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{'Code': '1320', 'Text': 'Economics'}
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