数字技术与经济金融学术午餐会（第13期）

摘要：

Conventional wisdom regards a reduced aggregate noise as welfare improving. This study demonstrates that increased transparency regarding the unobserved state of the economy may reduce social welfare owing to the presence of nominal rigidity. On the one hand, costly business cycle fluctuations and price dispersions arising from nominal rigidity are muted in a noisy economy. On the other hand, an economy with less transparency suffers from efficiency losses due to inefficient coordination in pricing decisions. Monetary policy affects the trade-off, and thus interacts with communication policy. We characterize the conditions under which more transparency reduces social welfare.

主讲人介绍：

张仁斌，山东大学经济学助理教授，主要研究领域为：宏观经济学、宏观金融，研究论文发表于：Journal of Monetary Economics、 Journal of Economic Behavior and Organization，曾获得荣誉：山东大学人文社科重大成果奖励、2021年度中国信息经济学优秀成果奖励、普华永道3535金融/会计论坛2021年度最佳论文奖。