Taeyoung Doh
Senior Economist
Federal Reserve Bank of Kansas City
1 Memorial Drive
Kansas City, Missouri
Biography
Taeyoung Doh is a Senior Economist in the Economic Research Department of the Federal Reserve Bank of Kansas City. He joined the department in July 2007. He received a bachelor's degree in economics from Seoul National University in 1996, an M.A. degree from Seoul National University in 1998 and a Ph.D. in economics from the University of Pennsylvania in 2007. His current research interest include monetary policy and term structure of interest rates, estimation of dynamic stochastic general equilibrium models, and asset pricing based on long run macroeconomic risks.
Professional Journals and Books
- "A Bayesian Evaluation of Alternative Models of Trend Inflation"
with Todd Clark, International Journal of Forecasting, pp. 426-448, Vol 30(3), July-September 2014 - "Monetary Policy Regime Shifts and Inflation Persistence"
with Troy Davig, Review of Economics and Statistics, pp. 862-75, Vol 96(5), December 2014 - Book Chapter Contribution: "The State Space Representation and Estimation of a Time-Varying Parameter VAR with Stochastic Volatility"
with Michael Connolly, in State-Space Models, edited by Zeng, Yong and Shu Wu, Springer: 2013 - "Long-Run Risks in the Term Structure of Interest Rates: Estimation"
Journal of Applied Econometrics, 2013, 28(3), 478-497 - "What Does the Yield Curve Tell Us About the Federal Reserve's Implicit Inflation Target?"
Journal of Money, Credit, and Banking, 2012, 44 (2-3), 469-486 - "Yield Curve in an Estimated Nonlinear Macro Model"
Journal of Economic Dynamics and Control, 2011, 35 (8), 1229-1244 - "Non-stationary Hours in a DSGE Model"
with Yongsung Chang and Frank Schorfheide, Journal of Money, Credit, and Banking, 2007, 39 (6), 1357-1373 - "Analysis of Loan Guarantees among the Korean Chaebol Affiliates"
with Keunkwan Ryu, International Economic Journal, 2004, 18 (2), 161-178
Economic Review Articles
- "How You Say It Matters: Text Analysis of FOMC Statements Using Natural Language Processing"
with Sungil Kim and Shu-Kuei Yang, Volume 106, Number 1 - "Tracking U.S. GDP in Real Time"
with Jaeheung Bae, Third Quarter 2019 - "Has the Anchoring of Inflation Expectations Changed in the United States during the Past Decade?"
with Amy Oksol, First Quarter 2018 - "Measuring the Stance of Monetary Policy on and off the Zero Lower Bound"
with Jason Choi, Third Quarter 2016 -- Additional files: Data and Code Files - "Should Monetary Policy Monitor Risk Premiums in Financial Markets?"
with Guangye Cao and Daniel Molling, First Quarter 2015 - "Has The Effect of Monetary Policy Announcements On Asset Prices Changed?"
with Michael Connolly, Third Quarter 2013 - "Is Unemployment Helpful in Understanding Inflation?"
Fourth Quarter 2011 - "The Efficacy of Large-Scale Asset Purchases at the Zero Lower Bound"
Second Quarter 2010
Research Working Papers
- "Deciphering Federal Reserve Communication via Text Analysis of Alternative FOMC Statements"
with Dongho Song and Shu-Kuei Yang, RWP 20-14 - "Assessing Macroeconomic Tail Risks in a Data-Rich Environment"
with Thomas R. Cook, RWP 19-12 - "A New Approach to Integrating Expectations into VAR Models"
with A. Lee Smith, RWP 18-13 - "The Trend Real Interest Rate and Stagnation Risk: Bayesian Exponential Tilting with Survey Data"
RWP 17-08 - "The Equilibrium Term Structure of Equity and Interest Rates"
with Shu Wu, RWP 16-11 - "Cash Flow and Risk Premium Dynamics in an Equilibrium Asset-Pricing Model with Recursive Preferences"
with Shu Wu, RWP 15-12 - "Yield Curve and Monetary Policy Expectations in Small Open Economies"
with Kwan Soo Bong and Woong Yong Park, RWP 14-13 - The State Space Representation and Estimation of a Time-Varying Parameter VAR with Stochastic Volatility
with Michael Connolly, RWP 12-04 - A Bayesian Evaluation of Alternative Models of Trend Inflation
with Todd E. Clark, RWP 11-16 - "Yield Curve in an Estimated Nonlinear Macro Model"
RWP 09-04 - "Monetary Policy Regime Shifts and Inflation Persistence"
with Troy Davig, RWP 08-16 - "Long-Run Risks in the Term Structure of Interest Rates: Estimation"
RWP 08-11 - "What Does the Yield Curve Tell Us About the Federal Reserve's Implicit Inflation Target?"
RWP 07-10
Economic Bulletin (formerly "The Macro Bulletin")
- "Assessing the Risk of Extreme Unemployment Outcomes"
with Thomas R. Cook, August 28, 2019 - "Revamping the Kansas City Financial Stress Index Using the Treasury Repo Rate"
with Thomas Cook, October 24, 2018 - "Changing Credit Profile of Consumers: Aging Versus the Business Cycle"
Data File - "Should Monetary Policy Monitor Risk Premiums in Financial Markets?"
with Guangye Cao and Daniel Molling - "Has The Effect of Monetary Policy Announcements On Asset Prices Changed?"
with Michael Connolly
Work in Progress
- "An Arbitrage-Free Model of the Term Structure of Interest Rates with the Zero Lower Bound"
- "Term Structure Implications of Time-varying Macroeconomic Volatility in a DSGE Model with Recursive Preferences"
- "A New Approach to Assessing the Misspecification of a DSGE Model"
with Woong Yong Park.
