TIACOE Research Seminar: Prof. Donghai Zhang

Dear Academic and Corporate Peers,

We are thrilled to invite you to the upcoming TIACOE Research Seminar at the Asia School of Business, featuring Professor Donghai Zhang from the National University of Singapore (NUS).

Seminar Title:

Heterogeneous Firms, Rational Inattention, and Monetary Policy

Joint with Shengliang Ou and Renbin Zhang

Event Details:

📅 Date: 14 September 2026 (Monday)

⏰ Time: 12:30pm to 1:30pm

📍 Venue: CR-W2-03, Asia School of Business

💻 Zoom Link: https://asb-my.zoom.us/j/92591714429?pwd=b1sg0DN3uu0PDalwH9VR5IAdk81GlK.1

Meeting ID: 925 9171 4429

Passcode: 971788

Register Now!

About the Seminar

This paper examines how firms of different sizes decide how much information to acquire about aggregate economic conditions, and how these decisions shape the effects of monetary policy.

The study develops a model in which firms face different incentives to pay attention to nominal conditions. It finds that larger firms do not necessarily pay more attention than smaller firms, as their greater exposure to sales risk is offset by differences in demand elasticity and pricing decisions. The research also shows how these differences in attention can influence monetary policy transmission, price and markup dispersion, and aggregate productivity.

Using textual analysis of firms’ Form 10-K filings, the authors find a robust hump-shaped relationship between firm size and attention to macroeconomic conditions, consistent with the model’s predictions.

About the Speaker

Professor Donghai Zhang is an Assistant Professor in the Department of Economics at the National University of Singapore (NUS), where he has been a faculty member since 2023. His research interests include macroeconomics, monetary economics, applied macroeconomics, and financial economics.

He received his PhD in Economics from Universitat Pompeu Fabra and previously served as an Assistant Professor at the University of Bonn. His research has been published in leading academic journals, including the Journal of Monetary Economics, Journal of the European Economic Association, and The Economic Journal.

📢 Open to academics, students, and corporate peers — we look forward to seeing you there!