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Professional forecasters update their information sets every 5\u00a0months on average but do so more frequently in response to high inflation and unemployment, as well as rising market volatility and policy uncertainty. Monetary policy shocks have larger real effects when the degree of inattention is higher. To explain our empirical findings, we propose a general equilibrium model with state\u2010dependent information rigidity in both the production and household sectors.<\/jats:p>","DOI":"10.1002\/jae.2960","type":"journal-article","created":{"date-parts":[[2023,1,25]],"date-time":"2023-01-25T09:00:42Z","timestamp":1674637242000},"page":"623-643","update-policy":"https:\/\/doi.org\/10.1002\/crossmark_policy","source":"Crossref","is-referenced-by-count":5,"title":["Inattention and the impact of monetary policy"],"prefix":"10.1002","volume":"38","author":[{"given":"Zidong","family":"An","sequence":"first","affiliation":[{"name":"Renmin University of China  Beijing China"}],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Salem","family":"Abo\u2010Zaid","sequence":"additional","affiliation":[{"name":"University of Maryland\u2010Baltimore County  Baltimore Maryland USA"}],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Xuguang","family":"Simon Sheng","sequence":"additional","affiliation":[{"name":"American University  Washington District of Columbia USA"}],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"311","published-online":{"date-parts":[[2023,2,2]]},"reference":[{"key":"e_1_2_8_2_1","doi-asserted-by":"publisher","DOI":"10.1016\/j.jimonfin.2017.05.003"},{"key":"e_1_2_8_3_1","doi-asserted-by":"crossref","unstructured":"Afrouzi H. &Yang C.(2021).Dynamic rational inattention and the Phillips curve. 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