Ph.D., University of Florida
M.S.E., University of South Florida
B.S.E., University of South Florida
Financial Risk Management
Financial Market Regulation
Derivatives: futures, forwards, options, and swaps
Financial risk management
Financial market regulation
Gay’s expertise is in the areas of investments and derivative markets. His research and professional interests center on the valuation of derivative instruments, their use by corporations, and the regulation of derivative markets. Gay has published more than 50 articles in the Journal of Financial Economics, Journal of Futures Markets, Journal of Business and Journal of Finance, among others. Gay has served as the chief economist of the U.S. Commodity Futures Trading Commission in Washington, D.C.View Gay’s CV
- Gay, Gerald D., “Corporate Derivatives Use and the Cost of Equity” (with Chen-Miao Lin and Stephen D. Smith) Journal of Banking and Finance, 35 (June 2011), pp. 1491-1506.
- Gay, Gerald D., “The Pricing and Valuation of Swaps” (with Anand Venkateswaran) Financial Derivatives: Pricing and Risk Management, Robert W. Kolb and James A. Overdahl (eds.), John Wiley & Sons, Ltd., 2010, Chapter 28, pp. 405-423.
- Gay, Gerald D., “Analyst Forecasts and Price Discovery in Futures Markets: The Case of Natural Gas Storage” (with Betty J. Simkins and Marian Turac) Journal of Futures Markets 29 (May 2009), pp. 451-477.
- Gay, Gerald D., “Creating a “Smart” Conditional Consensus Forecast” (with Lawrence D. Brown and Marian Turac) Financial Analyst Journal 64 (November/December 2008), pp. 74-86.
- Gay, Gerald D., “Choices and Best Practice in Corporate Risk Management Disclosure” (with Ekaterina Emm and Chen-Miao Lin) Journal of Applied Corporate Finance 19 (Fall 2007), pp. 82-93.
- Gay, Gerald D., “The Global Market for OTC Derivatives: An Analysis of Dealer Holdings” (with Ekaterina Emm) Journal of Futures Markets 25 (2005), pp. 39-77.
- Gay, Gerald D., “How Firms Manage Risk: The Optimal Mix of Linear and Non-Linear Derivatives.” (with Jouahn Nam and Marian Turac), Journal of Applied Corporate Finance 14 (Winter 2002): 82-93.
- Gay, Gerald D., “Asymmetric Information and Corporate Derivatives Use.” (with Peter DaDalt and Jouahn Nam), Journal of Futures Markets 22 (March 2002): 241-267.
- Gay, Gerald D., “The Economics of Derivatives Documentation: Private Contracting as a Substitute for Government Regulation.” (with Joanne Medero), Journal of Derivatives 3 (1996): 78-89.
- Gay, Gerald D., “Scams, Scoundrels and Scapegoats: A Taxonomy of CEA Regulation over Derivative Instruments.” (with Wendy L. Gramm), Journal of Derivatives 1 (Spring 1994): 6-24.