Publications

by members of

Department of Economics
Bowling Green State University
Bowling Green, Ohio (United States)

Working papers

2007

1. Charles T. Carlstrom & Timothy S. Fuerst & Matthius Paustian, 2007. "Inflation persistence, inflation targeting and the Great Moderation," Working Paper 0721, Federal Reserve Bank of Cleveland. [Downloadable!]

2006

1. Charles T. Carlstrom & Timothy S. Fuerst, 2006. "Co-movement in sticky price models with durable goods," Working Paper 0614, Federal Reserve Bank of Cleveland. [Downloadable!]
2. Charles T. Carlstrom & Timothy S. Fuerst, 2006. "Central bank independence and inflation: a note," Working Paper 0621, Federal Reserve Bank of Cleveland. [Downloadable!]

2005

1. Charles T. Carlstrom & Timothy S. Fuerst, 2005. "Oil prices, monetary policy, and counterfactual experiments," Working Paper 0510, Federal Reserve Bank of Cleveland. [Downloadable!]

2004

1. Charles T. Carlstrom & Timothy S. Fuerst, 2004. "Asset prices, nominal rigidities, and monetary policy," Working Paper 0413, Federal Reserve Bank of Cleveland. [Downloadable!]
2. Charles T. Carlstrom & Timothy S. Fuerst, 2004. "Thinking about monetary policy without money: a review of three books: Inflation Targeting, Monetary Theory and Policy, and Interest and Prices," Working Paper 0410, Federal Reserve Bank of Cleveland. [Downloadable!]

2003

1. Scott L. Baier & Charles T. Carlstrom & Ralph Chami & Thomas F. Cosimano & Timothy S. Fuerst & Collen Fullenkamp, 2003. "Capital trading, stock trading, and the inflation tax on equity: a note," Working Paper 0321, Federal Reserve Bank of Cleveland. [Downloadable!]
2. Charles T. Carlstrom & Timothy S. Fuerst, 2003. "Comments on backward-looking interest-rate rules, interest-rate smoothing, and macroeconomic instability," Working Paper 0319, Federal Reserve Bank of Cleveland. [Downloadable!]
3. Charles T. Carlstrom & Timothy S. Fuerst, 2003. "Investment and interest rate policy: a discrete time analysis," Working Paper 0320, Federal Reserve Bank of Cleveland. [Downloadable!]

2002

1. Charles T. Carlstrom & Timothy S. Fuerst & Fabio Ghironi, 2002. "Does it matter (for equilibrium determinacy) what price index the central bank targets?," Working Paper 0202, Federal Reserve Bank of Cleveland. [Downloadable!]
2. Charles T. Carlstrom & Timothy S. Fuerst & Fabio Ghironi, 2002. "Does It Matter (for Equilibrium Determinacy) What Price Index the Central Bank Targets?," Boston College Working Papers in Economics 533, Boston College Department of Economics, revised 07 Feb 2003. [Downloadable!]
3. Charles T. Carlstrom & Timothy S. Fuerst, 2002. "Imperfect capital markets and nominal wage rigidities," Working Paper 0205, Federal Reserve Bank of Cleveland. [Downloadable!]

2001

1. Charles T. Carlstrom & Timothy S. Fuerst, 2001. "Monetary policy in a world without perfect capital markets," Working Paper 0115, Federal Reserve Bank of Cleveland. [Downloadable!]
2. Charles T. Carlstrom & Timothy S. Fuerst, 2001. "Learning and the central bank," Working Paper 0117, Federal Reserve Bank of Cleveland. [Downloadable!]
3. Charles T. Carlstrom & Timothy S. Fuerst, 2001. "Timing and real indeterminacy in monetary models," Working Paper 9910R, Federal Reserve Bank of Cleveland. [Downloadable!]
4. Charles T. Carlstrom & Timothy S. Fuerst, 2001. "Taylor rules in a model that satisfies the natural rate hypothesis," Working Paper 0116, Federal Reserve Bank of Cleveland. [Downloadable!]
5. Charles T. Carlstrom & Timothy S. Fuerst, 2001. "Real indeterminacy in monetary models with nominal interest rate distortions: the problem with inflation targets," Working Paper 9818R, Federal Reserve Bank of Cleveland. [Downloadable!]

2000

1. Charles T. Carlstrom & Timothy S. Fuerst, 2000. "Forward-looking versus backward-looking Taylor rules," Working Paper 0009, Federal Reserve Bank of Cleveland. [Downloadable!]
2. Charles T. Carlstrom & Timothy S. Fuerst, 2000. "Money growth rules and price level determinacy," Working Paper 0010, Federal Reserve Bank of Cleveland. [Downloadable!]
3. Charles T. Carlstrom & Timothy S. Fuerst, 2000. "Monetary shocks, agency costs, and business cycles," Working Paper 0011, Federal Reserve Bank of Cleveland. [Downloadable!]
4. Charles Carlstrom & Timothy Fuerst, 2000. "Optimal Monetary Policy in a Small Open Economy: A General Equilibrium Analysis," Working Papers Central Bank of Chile 70, Central Bank of Chile. [Downloadable!]

1999

1. Charles T. Carlstrom & Timothy S. Fuerst, 1999. "Optimal monetary policy in a small, open economy: a general-equilibrium analysis," Working Paper 9911, Federal Reserve Bank of Cleveland. [Downloadable!]
2. Carlstrom, C.T. & Fuerst, T.S., 1999. "Optimal Monetary Policy in a Small Open Economy: a General Equilbirium Analysis," Papers 9911, London School of Economics - Centre for Labour Economics.

1998

1. Charles T. Carlstrom & Timothy S. Fuerst, 1998. "Price-level and interest-rate targeting in a model with sticky prices," Working Paper 9819, Federal Reserve Bank of Cleveland. [Downloadable!]

1996

1. Charles T. Carlstrom & Timothy S. Fuerst, 1996. "Agency costs, net worth, and business fluctuations: a computable general equilibrium analysis," Working Paper 9602, Federal Reserve Bank of Cleveland. [Downloadable!]

1995

1. Charles T. Carlstrom & Timothy S. Fuerst, 1995. "Interest rate rules vs. money growth rules: a welfare comparison in a cash-in-advance economy," Working Paper 9504, Federal Reserve Bank of Cleveland. [Downloadable!]

1990

1. Timothy S. Fuerst, 1990. "Liquidity," Discussion Papers 900, Northwestern University, Center for Mathematical Studies in Economics and Management Science. [Downloadable!]

Journal articles

2007

1. Charles T. Carlstrom & Timothy Fuerst, 2007. "Asset Prices, Nominal Rigidities, and Monetary Policy," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 10(2), pages 256-275, April. [Downloadable!] (restricted)
2. Charles T. Carlstrom & Timothy S. Fuerst, 2007. "Inertial Taylor rules: the benefit of signaling future policy," Policy Discussion Papers, Federal Reserve Bank of Cleveland, issue Apr. [Downloadable!]
3. Liu, Dandan & Jansen, Dennis W., 2007. "Macroeconomic forecasting using structural factor analysis," International Journal of Forecasting, Elsevier, vol. 23(4), pages 655-677. [Downloadable!] (restricted)

2006

1. Carlstrom, Charles T. & Fuerst, Timothy S. & Ghironi, Fabio, 2006. "Does it matter (for equilibrium determinacy) what price index the central bank targets?," Journal of Economic Theory, Elsevier, vol. 127(1), pages 214-231, May. [Downloadable!] (restricted)
2. Charles T. Carlstrom & Timothy S. Fuerst, 2006. "Central bank independence: the key to price stability?," Economic Commentary, Federal Reserve Bank of Cleveland, issue Sep 1. [Downloadable!]
3. Charles T. Carlstrom & Timothy S. Fuerst, 2006. "Milton Friedman, teacher, 1912-2006," Economic Commentary, Federal Reserve Bank of Cleveland, issue Dec. [Downloadable!]
4. Carlstrom, Charles T. & Fuerst, Timothy S., 2006. "Oil Prices, Monetary Policy, and Counterfactual Experiments," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 38(7), pages 1945-1958, October. [Downloadable!] (restricted)

2005

1. Charles T. Carlstrom & Timothy S. Fuerst, 2005. "Oil prices, monetary policy, and the macroeconomy," Policy Discussion Papers, Federal Reserve Bank of Cleveland, issue Apr. [Downloadable!]
2. Charles T. Carlstrom & Timothy S. Fuerst, 2005. "Considerable period of time: the case of signaling future policy," Economic Commentary, Federal Reserve Bank of Cleveland, issue Nov. [Downloadable!]
3. Carlstrom, Charles T. & Fuerst, Timothy S., 2005. "Investment and interest rate policy: a discrete time analysis," Journal of Economic Theory, Elsevier, vol. 123(1), pages 4-20, July. [Downloadable!] (restricted)
4. Benhabib, Jess & Carlstrom, Charles T. & Fuerst, Timothy S., 2005. "Introduction to monetary policy and capital accumulation," Journal of Economic Theory, Elsevier, vol. 123(1), pages 1-3, July. [Downloadable!] (restricted)
5. Charles T. Carlstrom & Timothy S. Fuerst, 2005. "Oil prices, monetary policy, and the macroeconomy," Economic Commentary, Federal Reserve Bank of Cleveland, issue Jul. [Downloadable!]
6. Dandan Liu & Dennis Jansen & Qi Li, 2005. "Regime switching in the dynamic relationship between stock returns and inflation," Applied Financial Economics Letters, Taylor and Francis Journals, vol. 1(5), pages 273-277, September. [Downloadable!] (restricted)

2004

1. Carlstrom, Charles T. & Fuerst, Timothy S., 2004. "Learning and the central bank," Journal of Monetary Economics, Elsevier, vol. 51(2), pages 327-338, March. [Downloadable!] (restricted)
2. Charles T. Carlstrom & Timothy S. Fuerst, 2004. "Thinking about Monetary Policy without Money," International Finance, Blackwell Publishing, vol. 7(2), pages 325-347, 07. [Downloadable!] (restricted)
3. Charles T. Carlstrom & Timothy S. Fuerst, 2004. "Expected inflation and TIPS," Economic Commentary, Federal Reserve Bank of Cleveland, issue Nov. [Downloadable!]
4. Carlstrom, Charles T & Fuerst, Timothy S, 2004. "Hyperinflationary Equilibria and Timing: A Note," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 36(6), pages 1115-20, December.

2003

1. Charles T. Carlstrom & Timothy S. Fuerst, 2003. "Money Growth Rules and Price Level Determinacy," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 6(2), pages 263-275, April. [Downloadable!] (restricted)
2. Scott Baier & Charles T. Carlstrom & Ralph Chami & Thomas Cosimano & Timothy Fuerst & Connel Fullenkamp, 2003. "Capital Trading, Stock Trading, and the Inflation Tax on Equity: A Note," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 6(4), pages 987-990, October. [Downloadable!] (restricted)
3. Charles T. Carlstrom & Timothy S. Fuerst, 2003. "The Taylor rule: a guidepost for monetary policy?," Economic Commentary, Federal Reserve Bank of Cleveland, issue Jul. [Downloadable!]

2002

1. Charles T. Carlstrom & Timothy S. Fuerst, 2002. "Monetary policy rules and stability: inflation targeting versus price-level targeting," Economic Commentary, Federal Reserve Bank of Cleveland, issue Feb 15. [Downloadable!]
2. Charles T. Carlstrom & Timothy S. Fuerst & Vasso P. Ioannidou, 2002. "Stock prices and output growth: an examination of the credit channel," Economic Commentary, Federal Reserve Bank of Cleveland, issue Aug 15. [Downloadable!]
3. Charles T. Carlstrom & Timothy S. Fuerst, 2002. "Taylor Rules in a Model that Satisfies the Natural-Rate Hypothesis," American Economic Review, American Economic Association, vol. 92(2), pages 79-84, May. [Downloadable!] (restricted)

2001

1. Charles T. Carlstrom & Timothy S. Fuerst, 2001. "Real Indeterminacy in Monetary Models with Nominal Interest Rate Distortions," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 4(4), pages 767-789, October. [Downloadable!] (restricted)
2. Charles T. Carlstrom & Timothy S. Fuerst, 2001. "Monetary policy and asset prices with imperfect credit markets," Economic Review, Federal Reserve Bank of Cleveland, issue Q IV, pages 51-59. [Downloadable!]
3. Charles T. Carlstrom & Timothy S. Fuerst, 2001. "Perils of price deflations: an analysis of the Great Depression," Economic Commentary, Federal Reserve Bank of Cleveland, issue Feb 15. [Downloadable!]
4. Charles T. Carlstrom & Timothy S. Fuerst, 2001. "Monetary policy and self-fulfilling expectations: the danger of forecasts," Economic Review, Federal Reserve Bank of Cleveland, issue Q I, pages 9-19. [Downloadable!]
5. Carlstrom, Charles T. & Fuerst, Timothy S., 2001. "Timing and real indeterminacy in monetary models," Journal of Monetary Economics, Elsevier, vol. 47(2), pages 285-298, April. [Downloadable!] (restricted)
6. Carlstrom, Charles T. & Fuerst, Timothy S., 2001. "Monetary shocks, agency costs, and business cycles," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 54(1), pages 1-27, June. [Downloadable!] (restricted)

2000

1. Charles T. Carlstrom & Timothy S. Fuerst, 2000. "The fiscal theory of the price level," Economic Review, Federal Reserve Bank of Cleveland, issue Q I, pages 22-32. [Downloadable!]

1999

1. Charles T. Carlstrom & Timothy S. Fuerst, 1999. "Money growth and inflation: does fiscal policy matter?," Economic Commentary, Federal Reserve Bank of Cleveland, issue Apr 15. [Downloadable!]
2. Charles T. Carlstrom & Timothy J. Fuerst, 1999. "Forecasts and sunspots: looking back for a better future," Economic Commentary, Federal Reserve Bank of Cleveland, issue Nov. [Downloadable!]

1998

1. Timothy S. Fuerst & Charles T. Carlstrom, 1998. "Agency costs and business cycles," Economic Theory, Springer, vol. 12(3), pages 583-597. [Downloadable!] (restricted)
2. Charles T. Carlstrom & Timothy S. Fuerst, 1998. "A Note on the Role of Countercyclical Monetary Policy," Journal of Political Economy, University of Chicago Press, vol. 106(4), pages 860-889, August. [Downloadable!] (restricted)
3. Fuerst, Timothy S., 1998. "Some models to guide monetary policymakers : A comment," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 48, pages 43-50, June. [Downloadable!] (restricted)

1997

1. Fuerst, Timothy S, 1997. "Comment on "On the Fit of a Neoclassical Monetary Model in High Inflation: Israel 1972-1990."," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 29(4), pages 755-58, November.
2. Carlstrom, Charles T & Fuerst, Timothy S, 1997. "Agency Costs, Net Worth, and Business Fluctuations: A Computable General Equilibrium Analysis," American Economic Review, American Economic Association, vol. 87(5), pages 893-910, December. [Downloadable!] (restricted)
3. Fuerst, Timothy S & Kim, Kyoo H, 1997. "Two-Part Trade Policy under Imperfect Competition," Review of International Economics, Blackwell Publishing, vol. 5(1), pages 63-71, February.

1996

1. Charles T. Carlstrom & Timothy S. Fuerst, 1996. "Interest rate rules for seasonal and business cycles," Economic Commentary, Federal Reserve Bank of Cleveland, issue Jul. [Downloadable!]
2. Charles T. Carlstrom & Timothy S. Fuerst, 1996. "The benefits of interest rate targeting: a partial and a general equilibrium analysis," Economic Review, Federal Reserve Bank of Cleveland, issue Q II, pages 2-14. [Downloadable!]

1995

1. Fuerst, Timothy S, 1995. "Monetary and Financial Interactions in the Business Cycle," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 27(4), pages 1321-38, November. [Downloadable!] (restricted)
2. Carlstrom, Charles T. & Fuerst, Timothy S., 1995. "Interest rate rules vs. money growth rules a welfare comparison in a cash-in-advance economy," Journal of Monetary Economics, Elsevier, vol. 36(2), pages 247-267, November. [Downloadable!] (restricted)

1994

1. Timothy S. Fuerst, 1994. "Monetary and financial interaction in the business cycle," Proceedings, Federal Reserve Bank of Cleveland, pages 1321-1353.
2. Fuerst, Timothy S, 1994. "Monetary Policy and Financial Intermediation," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 26(3), pages 362-76, August. [Downloadable!] (restricted)
3. Fuerst, Timothy S, 1994. "Optimal Monetary Policy in a Cash-in-Advance Economy," Economic Inquiry, Oxford University Press, vol. 32(4), pages 582-96, October.
4. Fuerst, Timothy S., 1994. "The availability doctrine," Journal of Monetary Economics, Elsevier, vol. 34(3), pages 429-443, December. [Downloadable!] (restricted)

1992

1. Fuerst, Timothy S., 1992. "Liquidity, loanable funds, and real activity," Journal of Monetary Economics, Elsevier, vol. 29(1), pages 3-24, February. [Downloadable!] (restricted)

1991

1. Fuerst, Timothy S, 1991. "The Sustainability of Budget Deficits with Lump-Sum and with Income-Based Taxation: Comment," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 23(3), pages 605-08, August. [Downloadable!] (restricted)

This page was last updated on 2008-7-1.