Uncertainty and Information Acquisition: Evidence from Firms and Households

Heiner Mikosch, Christopher Roth, Samad Sarferaz and Johannes Wohlfart

American Economic Journal: Macroeconomics, 2024, vol. 16, issue 2, 375-405

Abstract: 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. Firms and households perceiving a greater exposure to exchange rate fluctuations acquire more information about the exchange rate. Moreover, higher perceived costs of acquiring or processing information are associated with lower levels of information acquisition. 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.

JEL-codes: D12 D22 D81 D83 D84 E71 F31 (search for similar items in EconPapers)
Date: 2024
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://www.aeaweb.org/doi/10.1257/mac.20220047 (application/pdf)
https://doi.org/10.3886/E184701V1 (text/html)
https://www.aeaweb.org/doi/10.1257/mac.20220047.appx (application/pdf)
https://www.aeaweb.org/doi/10.1257/mac.20220047.ds (application/zip)
Access to full text is restricted to AEA members and institutional subscribers.

Related works:
Working Paper: Uncertainty and Information Acquisition: Evidence from Firms and Households (2021)
Working Paper: Uncertainty and Information Acquisition: Evidence from Firms and Households (2021)
Working Paper: Uncertainty and Information Acquisition: Evidence from Firms and Households (2021)
Working Paper: Uncertainty and Information Acquisition: Evidence from Firms and Households (2021)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:aea:aejmac:v:16:y:2024:i:2:p:375-405

Ordering information: This journal article can be ordered from
https://www.aeaweb.org/journals/subscriptions

DOI: 10.1257/mac.20220047

Access Statistics for this article

American Economic Journal: Macroeconomics is currently edited by Simon Gilchrist

More articles in American Economic Journal: Macroeconomics from American Economic Association Contact information at EDIRC.
Bibliographic data for series maintained by Michael P. Albert ().