Department of Economics
300 Business Administration Bldg.
Bowling Green State University
Bowling Green, OH  43403

Phone: (419) 372-6868
Fax: (419) 372-1557
Email: tfuerst@bgsu.edu

Education:

• Ph.D., Economics, 1990, The University of Chicago
• M.A., Economics, 1987, The University of Chicago
• B.S., Economics and Finance, 1985, Ohio Northern University

Teaching Areas:

• Principles of Economics
• Macroeconomics
• Monetary Theory

Research Interests:

• Monetary Theory and Policy
• Business Cycle Theory

Selected Publications:

• "Comments on the How Forward-Looking is Optimal Monetary Policy," forthcoming, Journal of Money, Credit, and Banking.
• "Money Growth Rules and Price Level Determinacy," (with Charles Charlstrom), forthcoming, Review of Economic Dynamics.
• "Learning and the Central Bank," forthcoming, Journal of Monetary Economics.
• "Stock Prices and Output Growth: An Examination of the Credit Channel," (with Charles Carlstrom), Federal Reserve Bank of Cleveland Commentary, August 15, 2002.
• "Taylor Rules in a Model that Satisfies the Natural Rate Hypothesis," American Economic Review, Papers and Proceedings, May 2002.
• "Monetary Policy Rules and Stability:  Inflation Targeting vs. Price-level Targeting," (with Charles Carlstrom), Federal Reserve Bank of Cleveland Economic Commentary, February, 2002.
• "Monetary Policy and Asset Prices in Imperfect Credit Markets," (with Charles Carlstrom), 2001, Federal Reserve Bank of Cleveland Economic Review, 37(4).
• "Monetary Policy and Self-fulfilling Expectations: The Danger of Using Forecasts," (with Charles Carlstrom), 2001, Federal Reserve Bank of Cleveland Economic Review, 37(1).
• "Real Indeterminacy in Monetary Models with Nominal Interest Rate Distortions," (with Charles Carlstrom), Review of Economic Dynamics, 4, 767-789, 2001.
• "Monetary Shocks, Agency Costs, and Business Cycles," (with Charles Carlstrom), 2001, Carnegie-Rochester Conference Series on Public Policy, 54.
• "Timing and Real Indeterminacy in Monetary Models," (with Charles Carlstrom), Journal of Monetary Economics, April 2001.
• "Perils of Price Deflations: An Analysis of the Great Depression," (with Charles Carlstrom), Federal Reserve Bank of Cleveland Economic Commentary, February 2001.
• "Optimal Monetary Policy in a Small Open Economy:  A General Equilibrium Analysis," forthcoming, Monetary Policy: Rules and Transmission Mechanisms, Central Bank of Chile.
• "The Fiscal Theory of the Price Level," (with Charles Carlstrom), Federal Reserve Bank of Cleveland Economic Review, December 1999.
• "Sunspots and Forecasts: Looking Back for a Better Future," (with Charles Carlstrom), Federal Reserve Bank of Cleveland Economic Commentary, December 1999.
• "Agency Costs and Business Cycles," (with Charles Carlstrom), Economic Theory 12(3), November 1998, 583-597.
• "A Note on the Role of Countercyclical Monetary Policy," (with Charles Carlstrom), Journal of Political Economy 106(4), August 1998, 860-866.
• "Agency Costs, Net Worth and Business Fluctuations:  A Computable General Equilibrium Analysis," (with Charles Carlstrom),  American Economic Review, December 1997.

Professional Affiliations:

• American Economics Association, member.
• Board of Editors, Journal of Money, Credit and Banking, April 2001 to present.
• Program Committee, 2002 Annual Meeting of the American Economics Association, Atlanta, January 2002.
• Board of Editors, American Economic Review, April 1995 to April 2001.
• Consultant, Federal Reserve Bank of Cleveland, Spring 1994 to present.

Honors and Awards:

• Robert Patton Scholarly Achievement Award, 2005.
• Owens-Illinois Endowed Professor, September 2000-2006.
• University Master Teacher, 2000.
• Distinguished Research Scholar, BGSU College of Business Administration, 1998-2000.
• Robert Patton Scholarly Achievement Award, May 1995.

Other Information:

• College of Business Administration Honors Director, Fall 2001 - 2004.
• Consultant, Federal Reserve Bank of Cleveland, January 1994-present