Access Statistics for Daniel Thornton

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Working Paper File Downloads Abstract Views
Last month 3 months 12 months Total Last month 3 months 12 months Total
A Dynamic Factor Analysis of the Response of U.S. Interest Rates to News 0 0 1 185 0 0 5 497
A dynamic factor analysis of the response of U. S. interest rates to news 0 0 0 137 0 2 6 425
A new federal funds rate target series: September 27, 1982, - December 31, 1993 0 0 0 52 0 1 3 258
A note on the expectations hypothesis at the founding of the Fed 0 0 0 82 0 2 3 302
A note on the relative efficiency of the Cochrane-Orcutt and OLS estimators when the autocorrelation process has a finite past 0 1 1 16 0 1 5 92
An Evaluation of Event-Study Evidence on the Effectiveness of the FOMC’s LSAP Program: Are the Announcement Effects Identified? 0 0 6 25 0 3 41 61
Asymmetry in the prime rate and firms' preference for internal finance 0 0 2 80 0 1 8 734
Complete results for lag length selection 0 0 1 46 0 1 2 114
Discount rate changes and the foreign exchange market 0 0 1 28 0 1 3 171
Discount rate policies of five Federal Reserve Chairmen 0 0 0 171 0 1 2 1,594
Do bank loan rates exhibit a countercyclical mark-up? 0 0 1 106 0 1 8 417
Endpoint constraints and the St. Louis equation: a clarification 0 0 0 28 0 1 1 78
Evidence on the portfolio balance channel of quantitative easing 0 6 19 83 0 15 95 254
Federal Funds Rate Prediction 0 1 2 480 0 1 16 6,364
Federal Funds Rate Prediction 0 0 1 14 0 1 9 76
Federal Funds Rate Prediction 0 0 1 197 0 2 7 1,851
Federal funds rate prediction 0 1 6 318 0 5 17 1,476
Forecasting the Treasury's balance at the Fed 0 0 0 73 0 1 4 312
Greenspan’s conundrum and the Fed’s ability to affect long-term yields 0 4 15 51 0 12 93 177
How did we get to inflation targeting and where do we go now? a perspective from the U.S. experience 0 0 0 45 0 2 24 137
How effective is central bank forward guidance? 0 1 18 90 0 10 59 227
Identifying the liquidity effect: the case of nonborrowed reserves 0 0 1 73 0 0 8 481
Lag length selection and Granger causality 0 0 3 306 0 1 5 642
Lag-length selection criteria: empirical results from the St. Louis equation 0 0 0 58 0 1 1 139
Lifting the veil of secrecy from monetary policy: evidence from the Fed's early discount rate policy 0 0 1 44 0 0 2 324
Monetary policy transparency: transparent about what? 0 0 2 238 0 0 10 573
Monetary policy: why money matters and interest rates don't 0 0 1 172 0 3 30 296
Monetary policy: why money matters, and interest rates don’t 0 0 4 80 0 7 41 96
On the treatment of the weighted initial observation in the AR(1) regression model 0 0 0 2 0 1 2 34
Open market operations and the federal funds rate 0 0 3 153 0 0 9 900
Predicting bond excess returns with forward rates: an asset-allocation perspective 0 0 0 39 0 1 10 112
Predictions of short-term rates and the expectations hypothesis 0 0 4 115 0 3 42 250
Predictions of short-term rates and the expectations hypothesis of the term structure of interest rates 0 1 1 155 0 1 5 717
Predictions of short-term rates and the expectations hypothesis of the term structure of interest rates 0 2 4 132 0 2 21 317
Price expectations and the demand for money: a comment 0 0 1 27 0 1 2 68
Resolving the unbiasedness and forward premium puzzles 0 0 0 55 0 0 4 106
Resolving the unbiasedness puzzle in the foreign exchange market 0 0 3 28 0 1 7 78
Revisiting the predictability of bond risk premia 0 0 1 65 0 2 25 139
Should consumer expenditures be the scale variable in empirical money demand equations? 0 0 0 21 0 1 2 158
Testing the expectations hypothesis: some new evidence for Japan 0 0 1 57 0 2 5 210
Tests of price sluggishness in the U.K 0 0 0 2 0 0 1 24
Tests of the expectations hypothesis: resolving the Campbell-Shiller paradox 0 0 6 434 0 1 35 1,840
Tests of the expectations hypothesis: resolving the anomalies when the short-term rate is the federal funds rate 0 1 1 122 0 1 4 500
The Andersen-Jordan equation, revisited 0 0 1 22 0 1 3 115
The Dynamic Relationship Between the Federal Funds rate and the Treasury Bill Rate: An Empirical Investigation 0 4 29 534 0 14 129 3,015
The Empirical Failure of the Expectations Hypothesis of the Term Structure of Bond Yields 0 0 3 31 1 2 18 108
The Empirical Failure of the Expectations Hypothesis of the Term Structure of Bond Yields 0 1 3 120 0 2 13 367
The Expectation Hypothesis of the Term Structure of Very Short-Term Rates: Statistical Tests and Economic Value 0 0 3 102 0 2 10 390
The Federal Reserve's operating procedure, nonborrowed reserves, borrowed reserves and the liquidity effect 0 0 3 323 0 0 6 2,132
The Federal Reserve’s response to the financial crisis: what it did and what it should have done 0 2 8 138 0 5 29 128
The Phillips Curve and US Monetary Policy: What the FOMC Transcripts Tell Us 0 0 2 6 0 1 7 36
The Phillips curve and US monetary policy: what the FOMC transcripts tell us 0 2 7 73 0 2 14 193
The appropriate autocorrelation transformation when the autocorrelation process has a finite past 0 0 0 28 0 2 2 183
The appropriate interest rate and scale variable in money demand: results from non-nested tests 0 0 0 25 0 1 1 526
The budget constraint, endogenous money and the relative importance of fiscal policy under alternative financing schemes 0 0 0 13 0 1 1 75
The daily and policy-relevant liquidity effects 0 0 0 23 0 1 5 76
The daily and policy-relevant liquidity effects 0 0 1 22 0 1 23 86
The daily liquidity effect 0 0 2 76 0 1 7 421
The dynamic relationship between the federal funds rate and the Treasury bill rate: an empirical investigation 0 0 1 511 0 1 22 2,041
The effect of underreporting on LIBOR rates 0 1 4 25 0 4 19 80
The effectiveness of unconventional monetary policy: the term auction facility 0 2 4 42 0 4 17 103
The efficient market hypothesis and identification in structural VARs 1 1 2 250 1 1 6 854
The empirical failure of the expectations hypothesis of the term structure of bond yields 0 1 5 371 0 3 17 766
The expectation hypothesis of the term structure of very short-term rates: statistical tests and economic value 0 1 5 213 0 2 19 654
The identification of the response of interest rates to monetary policy actions using market-based measures of monetary policy shocks 0 1 3 50 0 6 15 114
The information content of discount rate announcements: what's behind the announcement effect? 0 0 0 82 0 1 4 739
The market's reaction to discount changes: what's behind the announcement effect? 0 0 0 39 0 0 4 375
The real-balance effect with resource-using money: a capital-theoretic interpretation 0 0 0 1 0 0 0 42
The relationship between the federal funds rate and the Fed's federal funds rate target: is it open market or open mouth operations? 0 2 5 80 0 8 51 864
The relationship between the federal funds rate and the Fed's federal funds rate target: is it open market or open mouth operations? 0 0 1 260 0 0 13 1,711
The unusual behavior of the federal funds and 10-year Treasury rates: a conundrum or Goodhart’s Law? 0 1 3 102 0 2 10 405
Unanticipated money and the anticipated liquidity effect: some further evidence 0 0 0 14 0 0 0 104
Weighted monetary aggregates as intermediate targets 0 0 1 11 0 1 3 41
What do Almon's endpoint constraints constrain? 0 1 1 12 0 3 9 92
What's Unique About the Federal Funds Rate? Evidence from a Spectral Perspective 0 0 0 0 0 2 3 5
What's unique about the federal funds rate? evidence from a spectral perspective 0 0 1 114 0 1 6 546
When did the FOMC begin targeting the federal funds rate? what the verbatim transcripts tell us 0 1 5 99 0 6 18 567
Why do T-bill rates react to discount rate changes? 0 0 1 63 0 0 8 874
Why do market interest rates respond to money announcements? 0 1 2 32 0 2 5 211
Total Working Papers 1 40 218 8,592 2 176 1,199 42,660


Journal Article File Downloads Abstract Views
Last month 3 months 12 months Total Last month 3 months 12 months Total
"Measured pace" in the conduct of monetary policy 0 0 0 22 0 0 0 69
A history of the asymmetric policy directive 0 0 1 78 1 1 2 294
A note on the efficiency of the cochrane-orcutt estimator of the ar(1) regression model 0 1 2 26 0 2 4 70
A note on the expectations hypothesis at the founding of the Fed 0 0 0 18 0 1 4 83
A perspective on possible Fed exit strategies 0 0 9 17 0 2 14 24
A perspective on the current recession: it's not the "worst case" yet 0 0 1 22 0 0 6 76
A primer on cointegration with an application to money and income 0 1 11 942 0 4 39 1,857
A primer on the mortgage market and mortgage finance 0 0 1 186 1 2 7 513
A proposal for improving forward guidance 0 1 4 20 0 3 8 43
Alternative measures of the monetary base: what are the differences and are they important? 0 0 0 20 0 0 1 188
Alternative policy weapons? 0 0 0 2 0 1 2 32
An early look at the volatility of money and interest rates under CRR 0 0 0 8 0 0 0 45
An experiment is underway 0 0 0 2 0 1 1 27
An extended series of divisia monetary aggregates 0 0 0 38 0 0 1 181
Are Virtual “Currencies” Likely to Succeed? 0 0 7 10 0 1 19 24
Are weighted monetary aggregates better than simple-sum M1? 0 0 0 21 0 1 2 74
Can the FOMC increase the funds rate without reducing reserves? 0 1 1 3 0 3 6 15
Channels of monetary policy. Proceedings of the Nineteenth Annual Economic Policy Conference held October 20-21, 1994 0 0 0 1 0 0 0 39
Channels of monetary policy: conference introduction 0 0 0 0 0 1 1 2
Comments on "Modeling money demand in large industrial countries: Buffer stock and error correction approaches" 0 0 0 5 0 0 0 32
Core versus headline inflation again 0 0 1 13 0 1 4 26
Core versus headline inflation: an opportunity for greater transparency 0 0 0 4 0 1 2 14
Discount rate changes and the foreign exchange market 0 0 0 19 0 1 16 156
Do government deficits matter? 0 0 0 57 0 0 0 266
Does a mild recession imply a weak recovery? 0 0 0 12 0 0 3 47
Does the Fed's new policy of immediate disclosure affect the market? 0 0 0 119 0 0 2 453
Does the economy need more spending now? 0 0 0 3 1 2 3 15
Federal Funds Rate Prediction 0 0 0 0 0 3 6 775
Financial innovation, deregulation and the "credit view" of monetary policy 0 1 1 198 0 2 2 515
Forecasting the Treasury's balance at the Fed 0 0 0 15 0 0 2 170
Greenspan's unconventional view of the long-run inflation/output trade-off 0 0 0 20 0 0 0 76
Has QE been effective? 1 1 9 11 1 5 24 33
Housing and the "R" word 0 0 0 14 0 1 1 39
How did we get to inflation targeting and where do we need to go to now? a perspective from the U.S. experience 0 0 1 16 0 1 5 51
How effective is monetary policy? 0 0 0 33 0 1 3 84
How good are the government’s deficit and debt projections and should we care? 0 0 5 23 0 0 9 58
How robust are the policy conclusions of the St. Louis equation?: some further evidence 0 0 1 23 0 0 4 82
Identifying the liquidity effect at the daily frequency 0 1 3 85 0 2 5 255
Inflation objective and policy credibility: a potential problem for the FOMC 0 0 0 2 0 2 3 14
Interest rate targets abandoned 0 0 0 6 0 1 1 32
Is nominal GDP targeting a rule policymakers could accept? 1 1 3 5 1 2 6 13
Is the FOMC’s policy inflating asset prices? 0 1 2 4 0 3 6 18
Is the FOMC’s unemployment rate threshold a good idea? 0 0 0 4 0 2 2 9
Is there a case for "moderate" inflation? 0 0 0 10 0 0 0 216
Is there less agreement about inflation? 0 0 0 24 1 2 4 65
Lag-Length Selection and Tests of Granger Causality between Money and Income 0 5 25 507 0 12 69 1,276
Lagged and contemporaneous reserve accounting: an alternative view 0 0 1 9 0 1 4 81
Lifting the Veil of Secrecy from Monetary Policy: Evidence from the Fed's Early Discount Rate Policy 0 0 0 0 0 0 3 251
M1 or M2: which is the better monetary target? 0 0 0 23 0 0 1 127
Making monetary policy more transparent 0 0 1 14 0 2 3 49
Making sense of dissents: a history of FOMC dissents 0 1 3 3 0 2 7 7
Market anticipations of monetary policy actions 0 0 2 110 0 0 7 286
Maximum Likelihood Estimates of a Partial Adjustment-Adaptive Expectations Model of the Demand for Money 0 0 0 58 0 0 3 183
Measure for measure: headline versus core inflation 0 0 1 18 0 1 5 62
Monetary anticipations and the demand for money: Reply to MacKinnon and Milbourne 0 0 0 16 0 1 1 83
Monetary policy and longer-term rates: an opportunity for greater transparency 0 0 0 6 0 1 3 19
Monetary policy at the zero bound 0 0 1 12 0 2 5 32
Monetary policy transparency: transparent about what? 0 0 1 39 0 1 4 155
Monetizing the debt 0 0 1 103 0 0 5 568
Monetizing the debt 0 1 10 63 0 3 25 154
Money demand dynamics: some new evidence 0 0 1 34 0 1 3 96
Money in a theory of exchange 0 0 0 112 0 1 3 368
Money, net wealth, and the real-balance effect 0 0 0 5 0 1 2 55
Negating the inflation potential of the Fed's lending programs 0 0 0 10 0 0 2 40
Nominal interest rates: less than zero? 0 1 4 105 0 2 6 580
On the informational content of spot and forward exchange rates 0 1 2 17 0 1 3 49
Open market operations and the federal funds rate 0 0 2 88 0 2 10 354
Out-of-Sample Predictions of Bond Excess Returns and Forward Rates: An Asset Allocation Perspective 0 1 5 13 0 3 16 38
Personal saving and economic growth 0 0 4 32 0 1 7 73
Polynomial distributed lags and the estimation of the St. Louis equation 0 0 0 38 0 1 4 114
Predictability and effectiveness of monetary policy 0 0 0 28 0 0 0 65
Price Expectations and the Demand for Money: A Comment 0 0 0 21 0 0 1 94
Public officials and job creation 0 0 0 4 0 2 5 38
QE: is there a portfolio balance effect? 0 0 6 7 1 4 22 32
Quantitative easing and money growth: potential for higher inflation? 0 0 8 42 0 1 16 85
Simple analytics of the money supply process and monetary control 0 1 3 47 0 2 6 185
Social security, saving, and wealth accumulation 0 0 2 12 0 0 2 44
Solving the 1980s' velocity puzzle: a progress report 0 1 1 45 0 6 7 261
Subprime side effects in the federal funds market 0 0 1 36 0 0 1 91
Targeting M2: the issue of monetary control 0 0 0 14 0 1 1 118
Tax rates and revenue since the 1970s 0 0 0 5 0 1 2 19
Testing the Expectations Hypothesis: Some New Evidence for Japan 0 0 0 13 0 1 1 91
Testing the expectations hypothesis: some new evidence for Japan 0 0 0 52 0 0 1 207
Tests of covered interest rate parity 0 0 5 358 0 3 21 1,682
Tests of the Expectations Hypothesis: Resolving the Campbell-Shiller Paradox 0 1 5 41 0 1 11 169
Tests of the expectations hypothesis: Resolving the anomalies when the short-term rate is the federal funds rate 0 1 2 32 0 1 2 125
Tests of the market's reaction to federal funds rate target changes 0 2 7 259 1 7 18 979
The Andersen-Jordan equation revisited 0 0 1 17 0 0 3 85
The Empirical Failure of the Expectations Hypothesis of the Term Structure of Bond Yields 0 1 7 56 0 1 21 162
The FOMC in 1981: monetary control in a changing financial environment 0 0 0 4 0 0 0 32
The FOMC in 1982: de-emphasizing M1 0 0 0 3 0 1 1 33
The FOMC's balance-of-risks statement and market expectations of policy actions 0 0 0 64 0 3 13 560
The FOMC’s interest rate policy: how long is the long run? 0 0 0 5 0 2 2 12
The FOMC’s “considerable period” 0 0 0 21 0 2 7 112
The Fed and short-term rates: Is it open market operations, open mouth operations or interest rate smoothing? 0 0 1 90 0 2 5 255
The Fed's inflation objective 0 0 1 29 0 1 2 70
The Fed, liquidity, and credit allocation 0 1 1 74 1 4 24 242
The Federal Reserve's operating procedure, nonborrowed reserves, borrowed reserves and the liquidity effect 0 0 2 167 0 1 10 667
The Information Content of the Federal Funds Rate: Is It Unique? 0 0 0 44 0 0 0 418
The Phillips curve and US monetary policy: what the FOMC transcripts tell us 0 2 5 29 0 3 20 139
The U.S. deficit/debt problem: a longer-run perspective 0 0 5 18 0 1 10 41
The borrowed-reserves operating procedures: theory and evidence 0 0 1 64 0 0 2 383
The case for "inflation first" monetary policy 0 1 1 2 0 3 4 20
The codification of an FOMC procedure 0 0 0 8 0 0 0 52
The cost of checkable deposits in the United States 0 0 0 33 0 0 0 533
The costs and benefits of price stability: an assessment of Howitt's rule 0 1 1 41 0 2 5 199
The discount rate and market interest rates: theory and evidence 0 0 0 68 0 0 0 872
The discount rate and market interest rates: what's the connection? 0 0 2 43 0 0 2 137
The discount rate, interest rates and foreign exchange rates: an analysis with daily data 0 0 0 35 0 0 5 239
The downside of quantitative easing 0 1 4 62 0 4 12 120
The dual mandate: has the Fed changed its objective? 0 1 1 5 0 1 3 27
The dynamic relationship between the federal funds rate and the Treasury bill rate: An empirical investigation 0 0 5 259 1 1 13 1,025
The effect of monetary policy on short-term interest rates 0 1 3 88 0 2 12 391
The effect of the Fed’s purchase of long-term treasuries on the yield curve 0 1 1 26 0 1 3 75
The effect of unanticipated money on the money and foreign exchange markets 0 0 0 16 0 1 1 53
The effect of underreporting on LIBOR rates 0 1 8 24 0 2 23 73
The effectiveness of unconventional monetary policy: the term auction facility 0 0 3 22 0 2 11 95
The efficacy of monetary policy: a tale from two decades 0 0 1 8 0 1 5 19
The efficacy of the FOMC’s zero interest rate policy 0 0 0 6 0 1 4 23
The efficient market hypothesis and identification in structural VARs 0 1 1 159 0 2 6 857
The empirical significance of the real balance effect 0 0 0 9 0 1 1 27
The exceptional 1990s 0 0 0 4 0 0 1 40
The expectation hypothesis of the term structure of very short-term rates: Statistical tests and economic value 0 1 9 175 0 4 40 606
The expected federal budget surplus: how much confidence should the public and policymakers place in the projections? 0 0 0 58 0 0 1 413
The federal debt: too little revenue or too much spending 0 0 2 20 0 2 7 50
The federal debt: what’s the source of the increase in spending? 0 0 1 15 0 1 5 37
The federal funds and long-term rates 0 0 2 23 0 1 4 63
The funds rate target and interest rates 0 0 0 4 0 2 7 41
The golden dollar: the early evidence 0 0 0 3 0 0 1 43
The government budget constraint with endogenous money 0 0 0 15 0 0 1 41
The importance of an asymmetric directive 0 0 0 29 0 1 3 114
The link between M1 and the monetary base in the 198O's 0 0 0 49 0 0 0 418
The lower and upper bounds of the Federal Open Market Committee's long-run inflation objective 0 0 0 17 1 3 15 128
The macroeconomic effects of deficit spending: a review 0 0 3 173 0 0 20 1,138
The monetary policy transmission mechanism? 0 2 6 55 0 3 8 104
The monetary-fiscal policy debate and the Andersen-Jordan equation 0 0 1 56 0 1 2 667
The monetary/fiscal policy debate: a controlled experiment 0 0 0 57 0 0 2 264
The multiplier approach to the money supply process: a precautionary note 0 1 9 364 0 12 60 2,152
The relationship between the daily and policy-relevant liquidity effects 0 0 1 9 0 0 2 58
Using federal funds futures rates to predict Federal Reserve actions 0 0 2 382 0 2 7 2,034
Verbal guidance and the efficacy of forward guidance 0 0 3 16 0 2 7 33
Walter Bagehot, the discount window, and TAF 0 0 1 21 0 2 3 47
What accounts for the reduced frequency of Fed actions? 0 0 0 6 0 1 1 90
What caused long-term rates to rise? 0 0 0 6 0 1 1 27
What does the change in the FOMC's statement of objectives mean? 0 0 0 4 0 2 2 25
What the Libor-OIS spread says 0 4 15 331 0 11 51 716
What's Unique About the Federal Funds Rate? Evidence from a Spectral Perspective 0 0 1 28 0 2 4 149
Which comes first: inflation or the FOMC's funds rate target? 0 0 0 4 0 1 3 18
Why Do T-Bill Rates React to Discount Rate Changes? 0 0 0 77 0 6 19 1,115
Why does velocity matter? 0 1 3 25 0 5 9 93
Why is employment growth so low? 0 1 10 43 0 3 17 80
Why is output growth so slow? 0 0 0 4 0 1 2 12
Withering dissents 0 0 0 1 0 0 0 31
Would QE2 have a significant effect on economic growth, employment, or inflation? 0 1 2 75 0 4 6 153
Would quantitative easing sooner have tempered the financial crisis and economic recession? 0 0 2 95 0 0 4 180
Total Journal Articles 2 48 295 8,455 11 242 1,093 35,783


Statistics updated 2015-09-01