Details about Timothy S. Fuerst

Access statistics for papers by Timothy S. Fuerst.

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Short-id: pfu6

Working Papers

2012

1. Estimating contract indexation in a financial accelerator model
   Working Paper, Federal Reserve Bank of Cleveland
2. Fiscal multipliers under an interest rate peg of deterministic vs. stochastic duration
   Working Paper, Federal Reserve Bank of Cleveland
   Also in Working Paper, Federal Reserve Bank of Cleveland (2012)
3. How inflationary is an extended period of low interest rates?
   Working Paper, Federal Reserve Bank of Cleveland
4. Inflation and output in New Keynesian models with a transient interest rate peg
   Bank of England working papers, Bank of England
   Also in Working Paper, Federal Reserve Bank of Cleveland (2012)
5. Privately optimal contracts and suboptimal outcomes in a model of agency costs
   Working Paper, Federal Reserve Bank of Cleveland
   Also in Working Paper, Federal Reserve Bank of Cleveland (2012)

2011

6. Indexed debt contracts and the financial accelerator
   Working Paper, Federal Reserve Bank of Cleveland

2009

7. Optimal monetary policy in a model with agency costs
   2009 Meeting Papers, Society for Economic Dynamics View citations (4)
   See also Journal Article in Journal of Money, Credit and Banking (2010)

2007

8. Inflation persistence, inflation targeting and the Great Moderation
   Working Paper, Federal Reserve Bank of Cleveland

2006

9. Central bank independence and inflation: a note
   Working Paper, Federal Reserve Bank of Cleveland View citations (1)
   See also Journal Article in Economic Inquiry (2009)
10. Co-movement in sticky price models with durable goods
    Working Paper, Federal Reserve Bank of Cleveland View citations (15)

2005

11. Oil prices, monetary policy, and counterfactual experiments
    Working Paper, Federal Reserve Bank of Cleveland View citations (4)
    See also Journal Article in Journal of Money, Credit and Banking (2006)

2004

12. Asset prices, nominal rigidities, and monetary policy
    Working Paper, Federal Reserve Bank of Cleveland View citations (3)
    See also Journal Article in Review of Economic Dynamics (2007)
13. Thinking about monetary policy without money: a review of three books: Inflation Targeting, Monetary Theory and Policy, and Interest and Prices
    Working Paper, Federal Reserve Bank of Cleveland

2003

14. Capital trading, stock trading, and the inflation tax on equity: a note
    Working Paper, Federal Reserve Bank of Cleveland View citations (1)
    See also Journal Article in Review of Economic Dynamics (2003)
15. Comments on backward-looking interest-rate rules, interest-rate smoothing, and macroeconomic instability
    Working Paper, Federal Reserve Bank of Cleveland View citations (1)
16. Does It Matter (for Equilibrium Determinacy) What Price Index the Central Bank Targets?
    Boston College Working Papers in Economics, Boston College Department of Economics View citations (9)
    Also in Working Paper, Federal Reserve Bank of Cleveland (2002) View citations (9)
    See also Journal Article in Journal of Economic Theory (2006)
17. Investment and interest rate policy: a discrete time analysis
    Working Paper, Federal Reserve Bank of Cleveland View citations (14)
    See also Journal Article in Journal of Economic Theory (2005)

2002

18. Imperfect capital markets and nominal wage rigidities
    Working Paper, Federal Reserve Bank of Cleveland View citations (2)

2001

19. Learning and the central bank
    Working Paper, Federal Reserve Bank of Cleveland View citations (14)
    See also Journal Article in Journal of Monetary Economics (2004)
20. Monetary policy in a world without perfect capital markets
    Working Paper, Federal Reserve Bank of Cleveland View citations (3)
21. Real indeterminacy in monetary models with nominal interest rate distortions: the problem with inflation targets
    Working Paper, Federal Reserve Bank of Cleveland View citations (1)
    See also Journal Article in Review of Economic Dynamics (2001)
22. Taylor rules in a model that satisfies the natural rate hypothesis
    Working Paper, Federal Reserve Bank of Cleveland View citations (7)
    See also Journal Article in American Economic Review (2002)
23. Timing and real indeterminacy in monetary models
    Working Paper, Federal Reserve Bank of Cleveland View citations (132)
    See also Journal Article in Journal of Monetary Economics (2001)

2000

24. Forward-looking versus backward-looking Taylor rules
    Working Paper, Federal Reserve Bank of Cleveland View citations (49)
25. Monetary shocks, agency costs, and business cycles
    Working Paper, Federal Reserve Bank of Cleveland View citations (9)
    See also Journal Article in Carnegie-Rochester Conference Series on Public Policy (2001)
26. Money growth rules and price level determinacy
    Working Paper, Federal Reserve Bank of Cleveland View citations (3)
    See also Journal Article in Review of Economic Dynamics (2003)
27. Optimal Monetary Policy in a Small Open Economy: A General Equilibrium Analysis
    Working Papers Central Bank of Chile, Central Bank of Chile View citations (12)
    Also in Working Paper, Federal Reserve Bank of Cleveland (1999) View citations (8)
    Working Papers, London School of Economics - Centre for Labour Economics (1999)
    See also Chapter (2002)

1998

28. Price-level and interest-rate targeting in a model with sticky prices
    Working Paper, Federal Reserve Bank of Cleveland View citations (10)

1996

29. Agency costs, net worth, and business fluctuations: a computable general equilibrium analysis
    Working Paper, Federal Reserve Bank of Cleveland View citations (8)
    See also Journal Article in American Economic Review (1997)

1995

30. Interest rate rules vs. money growth rules: a welfare comparison in a cash-in-advance economy
    Working Paper, Federal Reserve Bank of Cleveland View citations (52)
    See also Journal Article in Journal of Monetary Economics (1995)

1990

31. Liquidity
    Discussion Papers, Northwestern University, Center for Mathematical Studies in Economics and Management Science

Journal Articles

2012

1. Gaps versus growth rates in the Taylor Rule
   Economic Commentary, 2012, (Oct 12)

2010

2. Monetary policy in a world with interest on reserves
   Economic Commentary, 2010, (Jun 10)
3. NOMINAL RIGIDITIES, RESIDENTIAL INVESTMENT, AND ADJUSTMENT COSTS
   Macroeconomic Dynamics, 2010, 14, (01), 136-148 View citations (3)
4. Optimal Monetary Policy in a Model with Agency Costs
   Journal of Money, Credit and Banking, 2010, 42, (s1), 37-70 View citations (5)
   See also Working Paper (2009)

2009

5. CENTRAL BANK INDEPENDENCE AND INFLATION: A NOTE
   Economic Inquiry, 2009, 47, (1), 182-186 View citations (5)
   See also Working Paper (2006)
6. Inflation Persistence, Monetary Policy, and the Great Moderation
   Journal of Money, Credit and Banking, 2009, 41, (4), 767-786 View citations (2)
7. Monetary policy shocks, Choleski identification, and DNK models
   Journal of Monetary Economics, 2009, 56, (7), 1014-1021 View citations (5)

2008

8. Explaining apparent changes in the Phillips curve: the Great Moderation and monetary policy
   Economic Commentary, 2008, (Feb)
9. Explaining apparent changes in the Phillips curve: trend inflation isn't constant
   Economic Commentary, 2008, (Jan)
10. Inertial Taylor rules: the benefit of signaling future policy
    Review, 2008, (May), 193-203 View citations (1)
    Also in Policy Discussion Papers, 2007, (Apr) (2007)

2007

11. Asset Prices, Nominal Rigidities, and Monetary Policy
    Review of Economic Dynamics, 2007, 10, (2), 256-275 View citations (14)
    See also Working Paper (2004)

2006

12. Central bank independence: the key to price stability?
    Economic Commentary, 2006, (Sep 1)
13. Does it matter (for equilibrium determinacy) what price index the central bank targets?
    Journal of Economic Theory, 2006, 128, (1), 214-231 View citations (7)
    See also Working Paper (2003)
14. Milton Friedman, teacher, 1912-2006
    Economic Commentary, 2006, (Dec) View citations (1)
15. Oil Prices, Monetary Policy, and Counterfactual Experiments
    Journal of Money, Credit and Banking, 2006, 38, (7), 1945-1958 View citations (13)
    See also Working Paper (2005)

2005

16. Considerable period of time: the case of signaling future policy
    Economic Commentary, 2005, (Nov) View citations (1)
17. Introduction to monetary policy and capital accumulation
    Journal of Economic Theory, 2005, 123, (1), 1-3 View citations (2)
18. Investment and interest rate policy: a discrete time analysis
    Journal of Economic Theory, 2005, 123, (1), 4-20 View citations (43)
    See also Working Paper (2003)
19. Oil prices, monetary policy, and the macroeconomy
    Policy Discussion Papers, 2005, (Apr) View citations (3)
    Also in Economic Commentary, 2005, (Jul) (2005) View citations (2)

2004

20. Expected inflation and TIPS
    Economic Commentary, 2004, (Nov) View citations (6)
21. Hyperinflationary Equilibria and Timing: A Note
    Journal of Money, Credit and Banking, 2004, 36, (6), 1115-20
22. Learning and the central bank
    Journal of Monetary Economics, 2004, 51, (2), 327-338 View citations (16)
    See also Working Paper (2001)
23. Thinking about Monetary Policy without Money
    International Finance, 2004, 7, (2), 325-347 View citations (3)

2003

24. Capital Trading, Stock Trading, and the Inflation Tax on Equity: A Note
    Review of Economic Dynamics, 2003, 6, (4), 987-990
    See also Working Paper (2003)
25. Money Growth Rules and Price Level Determinacy
    Review of Economic Dynamics, 2003, 6, (2), 263-275 View citations (20)
    See also Working Paper (2000)
26. The Taylor rule: a guidepost for monetary policy?
    Economic Commentary, 2003, (Jul) View citations (1)

2002

27. Monetary policy rules and stability: inflation targeting versus price-level targeting
    Economic Commentary, 2002, (Feb 15) View citations (6)
28. Stock prices and output growth: an examination of the credit channel
    Economic Commentary, 2002, (Aug 15) View citations (2)
29. Taylor Rules in a Model that Satisfies the Natural-Rate Hypothesis
    American Economic Review, 2002, 92, (2), 79-84 View citations (5)
    See also Working Paper (2001)

2001

30. Monetary policy and asset prices with imperfect credit markets
    Economic Review, 2001, (Q IV), 51-59 View citations (2)
31. Monetary policy and self-fulfilling expectations: the danger of forecasts
    Economic Review, 2001, (Q I), 9-19 View citations (6)
32. Monetary shocks, agency costs, and business cycles
    Carnegie-Rochester Conference Series on Public Policy, 2001, 54, (1), 1-27 View citations (21)
    See also Working Paper (2000)
33. Perils of price deflations: an analysis of the Great Depression
    Economic Commentary, 2001, (Feb 15)
34. Real Indeterminacy in Monetary Models with Nominal Interest Rate Distortions
    Review of Economic Dynamics, 2001, 4, (4), 767-789 View citations (36)
    See also Working Paper (2001)
35. Timing and real indeterminacy in monetary models
    Journal of Monetary Economics, 2001, 47, (2), 285-298 View citations (113)
    See also Working Paper (2001)

2000

36. The fiscal theory of the price level
    Economic Review, 2000, (Q I), 22-32 View citations (21)

1999

37. Forecasts and sunspots: looking back for a better future
    Economic Commentary, 1999, (Nov) View citations (3)
38. Money growth and inflation: does fiscal policy matter?
    Economic Commentary, 1999, (Apr 15) View citations (2)

1998

39. A Note on the Role of Countercyclical Monetary Policy
    Journal of Political Economy, 1998, 106, (4), 860-889 View citations (7)
40. Agency costs and business cycles
    Economic Theory, 1998, 12, (3), 583-597 View citations (57)
41. Some models to guide monetary policymakers: A comment
    Carnegie-Rochester Conference Series on Public Policy, 1998, 48, (1), 43-50

1997

42. Agency Costs, Net Worth, and Business Fluctuations: A Computable General Equilibrium Analysis
    American Economic Review, 1997, 87, (5), 893-910 View citations (301)
    See also Working Paper (1996)
43. Comment on "On the Fit of a Neoclassical Monetary Model in High Inflation: Israel 1972-1990."
    Journal of Money, Credit and Banking, 1997, 29, (4), 755-58
44. Two-Part Trade Policy under Imperfect Competition
    Review of International Economics, 1997, 5, (1), 63-71

1996

45. Interest rate rules for seasonal and business cycles
    Economic Commentary, 1996, (Jul) View citations (1)
46. The benefits of interest rate targeting: a partial and a general equilibrium analysis
    Economic Review, 1996, (Q II), 2-14 View citations (2)

1995

47. Interest rate rules vs. money growth rules a welfare comparison in a cash-in-advance economy
    Journal of Monetary Economics, 1995, 36, (2), 247-267 View citations (27)
    See also Working Paper (1995)
48. Monetary and Financial Interactions in the Business Cycle
    Journal of Money, Credit and Banking, 1995, 27, (4), 1321-38 View citations (49)
    Also in Proceedings, 1994, 1321-1353 (1994) View citations (3)

1994

49. Monetary Policy and Financial Intermediation
    Journal of Money, Credit and Banking, 1994, 26, (3), 362-76 View citations (3)
50. Optimal Monetary Policy in a Cash-in-Advance Economy
    Economic Inquiry, 1994, 32, (4), 582-96 View citations (5)
51. The availability doctrine
    Journal of Monetary Economics, 1994, 34, (3), 429-443 View citations (7)

1992

52. Liquidity, loanable funds, and real activity
    Journal of Monetary Economics, 1992, 29, (1), 3-24 View citations (223)

1991

53. The Sustainability of Budget Deficits with Lump-Sum and with Income-Based Taxation: Comment
    Journal of Money, Credit and Banking, 1991, 23, (3), 605-08

Chapters

2002

1. Optimal Monetary Policy in a Small, Open Economy: A General Equilibrium Analysis
   Chapter 10 in Monetary Policy: Rules and Transmission Mechanisms, 2002, vol. 4, pp 275-298 View citations (2)
   See also Working Paper (2000)

Software Items