Gavin Goy
Biographic Data
| ID | 8880607 |
|---|---|
| NAME | Gavin Goy |
| GIVEN NAMES | Gavin |
| FAMILY NAME | Goy |
| SIGNATURE | GOY G |
| AFFILIATIONS | De Nederlandsche Bank |
| ORCID | 0000-0003-3525-7976 |
| VERIFIED | Yes |
| TOTAL WORKS | 3 |
| TOTAL CITATIONS | 0 |
| WORKS AS AUTHOR | 3 |
| WORKS AS EDITOR | 0 |
| FIRST PUBLICATION YEAR | 2024 |
| LATEST PUBLICATION YEAR | 2026 |
| H-INDEX | 0 |
Estimating the Natural Rate of Interest in a Macro-Finance Yield Curve Model
Using a novel macro-finance model we infer jointly the equilibrium real interest rate rt*, trend inflation, interest rate expectations, and bond risk premia for the United States. In the model rt* plays a dual macro-finance role: as the benchmark real interest rate that closes the output gap and as the time-varying long-run real interest rate that determines the level of the yield curve. Our estimated rt* declines over the last decade, with estim…
Should Developed Economies Manage International Capital Flows? An Empirical and Welfare Analysis
The literature on the effects of country risk premium shocks has largely focused on emerging market economies. We empirically show that in developed economies, risk premium shocks explain a non‐trivial share of aggregate fluctuations and are key drivers of real activity during crises. Our empirical results and results from a two‐country New Keynesian model indicate that an increase in the risk premium leads to a reduction in aggregate output unde…
A Structural Investigation of Quantitative Easing
Using nonlinear Bayesian methods that fully account for the binding zero lower bound (ZLB), we estimate a large-scale macrofinance DSGE model on U.S. data. Counterfactual analysis suggests that by easing financing conditions, quantitative easing facilitated a net increase in aggregate investment. The resulting expansion of firms’ production capacities lowered their marginal costs. These disinflationary supply side effects dominated over the infla…
No prominent works on this page.
Should Developed Economies Manage International Capital Flows? An Empirical and Welfare Analysis
The literature on the effects of country risk premium shocks has largely focused on emerging market economies. We empirically show that in developed economies, risk premium shocks explain a non‐trivial share of aggregate fluctuations and are key drivers of real activity during crises. Our empirical results and results from a two‐country New Keynesian model indicate that an increase in the risk premium leads to a reduction in aggregate output unde…
A Structural Investigation of Quantitative Easing
Using nonlinear Bayesian methods that fully account for the binding zero lower bound (ZLB), we estimate a large-scale macrofinance DSGE model on U.S. data. Counterfactual analysis suggests that by easing financing conditions, quantitative easing facilitated a net increase in aggregate investment. The resulting expansion of firms’ production capacities lowered their marginal costs. These disinflationary supply side effects dominated over the infla…
Estimating the Natural Rate of Interest in a Macro-Finance Yield Curve Model
Using a novel macro-finance model we infer jointly the equilibrium real interest rate rt*, trend inflation, interest rate expectations, and bond risk premia for the United States. In the model rt* plays a dual macro-finance role: as the benchmark real interest rate that closes the output gap and as the time-varying long-run real interest rate that determines the level of the yield curve. Our estimated rt* declines over the last decade, with estim…
Economics (2 works) · Monetary policy (2 works) · Capital flows (1 work) · Country risk (1 work) · Credit Risk and Financial Regulations (1 work) · Curve fitting (1 work) · Economic Policies and Impacts (1 work) · Emerging markets (1 work) · Energy Load and Power Forecasting (1 work) · Financial Markets and Investment Strategies (1 work)