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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."}}]},{"typeName":"publication","multiple":true,"typeClass":"compound","value":[{"publicationCitation":{"typeName":"publicationCitation","multiple":false,"typeClass":"primitive","value":"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>"}},{"publicationCitation":{"typeName":"publicationCitation","multiple":false,"typeClass":"primitive","value":"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>"}},{"publicationCitation":{"typeName":"publicationCitation","multiple":false,"typeClass":"primitive","value":"<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>"}}]},{"typeName":"productionDate","multiple":false,"typeClass":"primitive","value":"2006"},{"typeName":"distributor","multiple":true,"typeClass":"compound","value":[{"distributorName":{"typeName":"distributorName","multiple":false,"typeClass":"primitive","value":"Ricardo Reis"},"distributorURL":{"typeName":"distributorURL","multiple":false,"typeClass":"primitive","value":"http://www.columbia.edu/~rr2572/"},"distributorLogoURL":{"typeName":"distributorLogoURL","multiple":false,"typeClass":"primitive","value":"http://www.columbia.edu/~rr2572/Cshield.jpg"}}]},{"typeName":"distributionDate","multiple":false,"typeClass":"primitive","value":"2007"},{"typeName":"dateOfDeposit","multiple":false,"typeClass":"primitive","value":"2007-07"}]}},"files":[{"description":"File that has the data for the pre-war on nominal income, productivity, and inflation \r ","label":"InPro_data_pre.tab","restricted":false,"version":1,"datasetVersionId":49967,"categories":["2. 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