| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP16765 |
| DP16765 Uncertainty and Information Acquisition: Evidence from Firms and Households | |
| Heiner Mikosch; Christopher Roth; Samad Sarferaz; Johannes Wohlfart | |
| 发表日期 | 2021-12-01 |
| 出版年 | 2021 |
| 语种 | 英语 |
| 摘要 | We leverage the small open economy Switzerland as a testing ground for basic premises of macroeconomic models of endogenous information acquisition, using tailored surveys of firms and households. First, we show that firms perceive a greater exposure to exchange rate movements than households, which is reflected in higher levels of information acquisition and less dispersed beliefs about past and future exchange rate realizations. Similarly, within the two samples, acquisition of exchange rate information strongly increases in various proxies for stake size. Second, households who perceive higher costs of acquiring or processing information acquire less information. Finally, an exogenous increase in the perceived uncertainty of the exchange rate increases firms’ demand for a report about exchange rate developments, but not households’. Our findings inform the modeling of information frictions in macroeconomics. |
| 主题 | Monetary Economics and Fluctuations |
| URL | https://cepr.org/publications/dp16765 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/545699 |
| 推荐引用方式 GB/T 7714 | Heiner Mikosch,Christopher Roth,Samad Sarferaz,et al. DP16765 Uncertainty and Information Acquisition: Evidence from Firms and Households. 2021. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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