exposure to macroeconomic risk, consistent with sticky information models in which people are inattentive, but understand how …

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 … rate information strongly increases in various proxies for stake size. Second, households who perceive higher costs of …

information. Respondents who learn of a higher personal exposure to unemployment risk during recessions increase their demand for … rational inattention that demand for information depends on its expected benefit. Moreover, the fact that perceived risk … exposure responds to information highlights frictions in households’ knowledge about the personal relevance of particular …