Terry J. Fitzgerald

The "ideal" band pass filter can be used to isolate the component of a time series that lies within a particular band of frequencies.

This paper examines the effects of restricting the weekly hours of workers in a heterogeneous-agent, general equilibrium framework.

This paper provides a general equilibrium framework in which the number of working hours and the employment levels of heterogeneous workers is endogenously determined.

How can the United States balance its need for increased energy production with national and global environmental concerns?

How can price stability be achieved? Conventional wisdom says that a tough, independent central bank is all that is necessary.

The growth rate of the money supply currently receives little attention in the conduct of monetary policy.

During the first half of 1997, real output in the U.S. economy expanded at a robust 4.3 percent annual rate.

The quotation above expresses a common, if not dominant, view of the genesis of inflationary pressure in an economy. The story goes something like this: High GDP growth eventually places excessive strain on a nation’s resources.

Just before the Federal Open Market Committee’s (FOMC) May 20 meeting, popular opinion about the near-term future of U.S. monetary policy was summarized by John 0. Wilson, chief economist at Bank America Corp.

In March 1991-the trough of the most recent recession-the civilian unemployment rate stood at 6.8 percent. Fifteen months into the recovery, that rate had increased to 7.8 percent, leading many in the media to decry the recovery as "jobless."