TY  - RPRT
        AU  - Weber, Michael
AU  - Candia, Bernardo
AU  - Ropele, Tiziano
AU  - Lluberas, Rodrigo
AU  - Frache, Serafin
AU  - Meyer, Brent
AU  - Kumar, Saten
AU  - Gorodnichenko, Yuriy
AU  - Georgarakos, Dimitris
AU  - Coibion, Olivier
AU  - Kenny, Geoff
AU  - Ponce, Jorge
        TI  - Tell Me Something I Don't Already Know: Learning in Low and High-Inflation Settings
        PY  - 2023/Jul/
        PB  - Institute of Labor Economics (IZA)
        CY  - Bonn
        T2  - IZA Discussion Paper
        IS  - 16305
        UR  - https://www.iza.org/publications/dp16305
        AB  - Using randomized control trials (RCTs) applied over time in different countries, we study how the economic environment affects how agents learn from new information. We show that as inflation has recently risen in advanced economies, both households and firms have become more attentive and informed about inflation, leading them to respond less to exogenously provided information about inflation and monetary policy. We also study the effects of RCTs in countries where inflation has been consistently high (Uruguay) and low (New Zealand) as well as what happens when the same agents are repeatedly provided information in both low- and high-inflation environments (Italy). Our results broadly support models in which inattention is an endogenous outcome that depends on the economic environment.
        KW  - inattention
KW  - RCTs
KW  - inflation expectations
        ER  -