Qiushuo Ding

About Me

I am a Ph.D. candidate in Economics at the Center for Economic Research, Shandong University. My research focuses on imperfect information, macroeconomic fluctuations, monetary economics, and financial markets. I am advised by Prof. Gaowang Wang.

Research

Working Papers

• Optimal Monetary Policy with Confounding Information (Job Market Paper)
  Qiushuo Ding, Yulei Luo, and Gaowang Wang
  Date: February 23, 2026
  Keywords: Optimal monetary policy, Idiosyncratic shock, Confounding information, Price stability

  We develop a model of optimal monetary policy in an economy where firms' price-setting decisions are distorted by a signal-extraction problem: they cannot perfectly distinguish aggregate from idiosyncratic shocks based on noisy local information. This systematic misattribution of aggregate nominal disturbances to firm-specific factors generates an additional indirect price response, implying that strict price stability is no longer optimal. Instead, the optimal policy fully stabilizes the output gap, which necessarily requires accommodating fluctuations in the price level. The cyclicality of the optimal price level depends critically on the source of firms' incomplete information: learning from local demand signals implies a procyclical price level, whereas learning from local productivity signals yields a countercyclical one. We show that these results are robust to extensions featuring elastic attention and sentiment shocks.

• 信息成本、信息披露与金融市场质量 (Master Thesis)

Research Interests

• Information Frictions
• Macroeconomics
• Monetary Policy
• Financial Markets

Teaching

• Teaching Assistant, Advanced Macroeconomics (Graduate), Fall 2025
  Responsibilities: grading, Q&A, and final exam review.