Standard sticky information pricing models successfully capture the sluggish movement of aggregate prices in response … to monetary policy shocks but fail at matching the magnitude and frequency of price changes at the micro level. This … paper shows that in a setting where firms choose when to acquire costly information about different types of shocks …

experiences a shock forcing it to start learning afresh. Firms differ in their information; more informed firms have lower … posterior variances in beliefs. An uncertainty shock is a rise in the probability that any given firm will lose its information …

We consider one-to-one matching problems under two modalities of uncertainty that differ in the way types are assigned … know the "name" but not the "type" of the other players. Learning occurs via matching and using Bayes' rule. We introduce … Stability ; Two-Sided Matching …