William J. and Dorothy K. O’Neill Professor of Economics
Timothy S. Fuerst is an expert on monetary policy and business cycles. Before joining the faculty at Notre Dame, Professor Fuerst served as Senior Economic Advisor at the Federal Reserve Bank of Cleveland, and Professor of Economics at Bowling Green State University. His research has been published in the American Economic Review, Journal of Monetary Economics, Journal of Economic Theory, and many other leading economic journals. He has served on the Editorial Board of the American Economic Review, and is a current member of the Editorial Board of the Journal of Money, Credit and Banking.
Among the top 3% of most-cited economists, Fuerst’s intellectual contributions have revolved around developing theoretical models for monetary policy and business cycle analysis, including what happens when financial markets go awry and liquidity is in short supply. Two of his most-cited papers outline the now-classic “liquidity effects” and “agency cost” models. Both of these issues were important features of the Great Recession of 2008, and Fuerst’s work has helped shed some light on these events. A large portion of his other research involves understanding features of monetary policy rules that encourage economic stability.
The O’Neill family, of Cleveland, Ohio, has established several professorships in the College of Arts and Letters. This position honors the family’s patriarch and matriarch, William J. (’28) and Dorothy K. O’Neill.