Costly Information, Planning Complementarities, and the Phillips Curve
通过引入企业关于何时获取不同冲击新信息的内生决策，改进了粘性信息模型，使其既能解释微观价格频繁大幅调整，又能解释宏观价格对货币冲击的缓慢反应。
Sticky information models capture the sluggish response of aggregate prices to monetary shocks but fail to match the magnitude and frequency of price changes at the microlevel. This paper shows that accounting for the endogenous decision of when to acquire new information about different shocks can help overcome this shortcoming. In the calibrated model, prices change frequently and by large amounts in response to idiosyncratic shocks but sluggishly to monetary shocks. The paper also highlights that many predictions of the sticky information and rational inattention models are the same and thus robust to different specifications of information processing costs.