关键字：

【ECON20161205】

宏观经济学研讨会

（总第200期）

【时间】2016年4月6日（周三）12：15－13：45

【地点】明法0102教室

【主讲】林炜 中国人民大学经济学院

【主题】Optimal Monetary Policy with Informational Frictions（M. Angeletos and J. La’O，NBER Working Paper，2011）

【点评】周璇 中国人民大学经济学院助理教授 印第安纳大学经济学博士

【摘要】We study optimal monetary policy in an environment in which firms’ pricing and production decisions are subject to informational frictions. Our framework accommodates multiple formalizations of these frictions, including dispersed private information, sticky information, and certain forms of inattention. An appropriate notion of constrained efficiency is analyzed alongside the Ramsey policy problem. Similarly to the New-Keynesian paradigm, efficiency obtains with a subsidy that removes the monopoly distortion and a monetary policy that replicates flexible-price allocations. Nevertheless, “divine coincidence” breaks down and full price stability is no more optimal. Rather, the optimal policy is to “lean against the wind”, that is, to target a negative correlation between the price level and real economic activity.

【主持】陈彦斌 教授

 

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人大宏观经济学研讨会（Macro Workshop）旨在追踪宏观经济学国际最新进展，倡导构建符合国情的动态优化模型，并使用计算机模拟研究经济增长、收入分配和宏观政策等中国宏观经济重大问题。

联系人：刘哲希    Email：Macro_Workshop@163.com

资料下载：www.docin.com/mydoc-88265459-1.html

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