The article compares two ways to understand why inflation and output change slowly over time in the U.S. One way is by assuming that people have trouble getting up-to-date information, while the other way is by looking at how people's past experiences affect their decisions. The study finds that the model with sticky information is better at predicting inflation and wage changes, as well as how prices stay the same. On the other hand, the model with habit persistence is better at explaining how the economy grows and shrinks.