T. J. FitzGerald

Learn More
The `ideal' band pass ̄lter can be used to isolate the component of a time series that lies within a particular band of frequencies. However, applying this ̄lter requires a dataset of in ̄nite length. In practice, some sort of approximation is needed. Using projections, we derive approximations that are optimal when the time series representations(More)
Lawrence J. Christiano is a professor of economics at Northwestern University, a consultant to the Federal Reserve Bank of Chicago, and a research associate at the National Bureau of Economic Research. Terry J. Fitzgerald is an economist at the Federal Reserve Bank of Cleveland. The title of this article is modified from Kocherlakota’s (1996) article. The(More)
On any given day, during economic busts and economic booms alike, millions of Americans are unable to find desirable employment despite their best efforts. Understanding the reasons for this fact is a chief concern for economists and policymakers, since it is necessary for designing good labor market policies. Unemployment not only creates hardships for(More)
This publication primarily presents economic research aimed at improving policymaking by the Federal Reserve System and other governmental authorities. Articles may be reprinted if the source is credited and the Research Department is provided with copies of reprints. The views expressed herein are those of the authors and not necessarily those of the(More)
The Quality Assurance Review Center (QARC) works to improve the standards of care in treating cancer by improving the quality of clinical trials medicine. QARC operates as a data management and review center providing quality assurance services for multiple external groups including cooperative groups and pharmaceutical companies. As the medical world(More)
Investment in business inventories has averaged roughly one-half of 1 percent of real GDP in the United States over the post–World War II period. Given its relatively minor role as a component of output, it might seem curious that inventory investment has traditionally drawn a great deal of interest from macroeconomists and policymakers. One reason is that(More)
The search theory approach to understanding unemployment flourished during the 1980s and 1990s. It has provided economists with a rich set of models for analyzing unemployment and labor market issues more generally. Unfortunately, while economists have found modern search theory to be an invaluable tool, the insights provided by this approach remain largely(More)