Replication data for: Inattentive Producers (doi:10.7910/DVN/5W53YT)

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Replication data for: Inattentive Producers

doi:10.7910/DVN/5W53YT

Harvard Dataverse

2008-12-17

1

Ricardo Reis, 2008, "Replication data for: Inattentive Producers", https://doi.org/10.7910/DVN/5W53YT, Harvard Dataverse, V1, UNF:3:VuIZx6UR3YZ86WQE6lu9bw== [fileUNF]

Replication data for: Inattentive Producers

doi:10.7910/DVN/5W53YT

Ricardo Reis (Columbia University)

2006

Harvard Dataverse

Ricardo Reis

2007-07

2007

https://doi.org/10.7910/DVN/5W53YT

I present and solve the problem of a producer who faces costs of acquiring, absorbing, and processing information. I establish a series of theoretical results describing the producer's behavior. First, I find the conditions under which she prefers to set a plan for the price she charges, or instead prefers to set a plan for the quantity she sells. Second, I show that the agent rationally chooses to be inattentive to news, only sporadically updating her information. I solve for the optimal length of inattentiveness and characterize its determinants. Third, I explicitly aggregate the behavior of many such producers. I apply these results to a model of inflation. I find that the model can fit the quantitative facts on post-war inflation remarkably well, that it is a good forecaster of future inflation, and that it survives the Lucas critique by fitting also the prewar facts on inflation moderately well.

<a href="http://creativecommons.org/publicdomain/zero/1.0">CC0 1.0</a>

Reis, Ricardo. 2006. "Inattentive Producers". Review of Economic Studies. 73, 793–821. <a href="http://www.princeton.edu/~rreis/papers/InPro.pdf" target= "_new"> article available here </a>

Reis, Ricardo. 2006. "Inattentive Producers". Review of Economic Studies. 73, 793–821. <a href="http://www.princeton.edu/~rreis/papers/InPro.pdf" target= "_new"> article available here </a>

Reis, Ricardo. 2006. "Inattentive Producers". Review of Economic Studies. 73, 793–821. <a href="http://www.princeton.edu/~rreis/papers/InPro.pdf" target= "_new"> article available here </a>

Reis, Ricardo. 2006. "Inattentive Producers". Review of Economic Studies. 73, 793–821. <a href="http://www.princeton.edu/~rreis/papers/InPro.pdf" target= "_new"> article available here </a>

<a href="http://www.princeton.edu/~rreis/papers/ip_8_22.pdf" target= "_new"> "Optimal Inattentive Length in Macroeconomic Models" by Ryo Jinnai (available here) </a>

<a href="http://www.princeton.edu/~rreis/papers/ip_8_22.pdf" target= "_new"> "Optimal Inattentive Length in Macroeconomic Models" by Ryo Jinnai (available here) </a>

• Number of cases: 200

• No. of variables per record: 8

• Type of File: text/tab-separated-values

UNF:3:1lhDv9eoU9gPF8eXBLB32g==

File that has the data for the pre-war on nominal income, productivity, and inflation

• Number of cases: 44

• No. of variables per record: 8

• Type of File: text/tab-separated-values

UNF:3:0dNCkU6/OIvoZnr6rxOSiQ==

File that has the data for the pre-war on nominal income, productivity, and inflation

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InPro.zip

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Zip file containing all data for this file in original format

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InPro_data.txt

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Original text file that has the data for the post-war on nominal income, productivity, and inflation

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InPro_data.xls

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File that has the data for the pre-war on nominal income, productivity, and inflation in excel format

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InPro_data_pre.txt

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Original text file that has the data for the pre-war on nominal income, productivity, and inflation

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InPro_data_pre.xls

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File that has the data for the pre-war on nominal income, productivity, and inflation in excel format

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InPro_Table3.m

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MATLAB file reproducing table 3

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InPro_Table3a.m

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Auxiliary file needed to run InPro_Table3.m

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InPro_Table4.m

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MATLAB file reproducing table 4

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InPro_Table5.m

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MATLAB file reproducing table 5

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InPro_Table5a.m

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Auxiliary file needed to run InPro_Table5.m

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InPro_Table5b.m

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Auxiliary file needed to run InPro_Table5.m

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README.txt

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Reame text file explaining contents of zip file

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