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 1 186 1 2 7 504
A dynamic factor analysis of the response of U. S. interest rates to news 0 0 2 139 2 4 11 436
A new federal funds rate target series: September 27, 1982, - December 31, 1993 2 3 5 57 3 6 30 288
A note on the expectations hypothesis at the founding of the Fed 0 0 0 82 1 2 8 309
A note on the relative efficiency of the Cochrane-Orcutt and OLS estimators when the autocorrelation process has a finite past 0 0 0 16 0 1 2 94
An Evaluation of Event-Study Evidence on the Effectiveness of the FOMC’s LSAP Program: Are the Announcement Effects Identified? 1 2 7 32 1 3 14 74
Asymmetry in the prime rate and firms' preference for internal finance 0 0 1 81 0 0 3 736
Complete results for lag length selection 0 0 1 47 1 1 3 117
Discount rate changes and the foreign exchange market 0 0 0 28 0 0 0 171
Discount rate policies of five Federal Reserve Chairmen 0 0 0 171 0 0 2 1,596
Do bank loan rates exhibit a countercyclical mark-up? 0 1 3 109 1 3 6 423
Endpoint constraints and the St. Louis equation: a clarification 0 0 0 28 0 1 1 79
Evidence on the portfolio balance channel of quantitative easing 0 7 24 107 5 37 111 360
Federal Funds Rate Prediction 0 0 2 481 2 2 7 6,370
Federal Funds Rate Prediction 1 1 4 18 2 2 7 83
Federal Funds Rate Prediction 0 2 3 200 2 7 14 1,864
Federal funds rate prediction 0 0 1 319 1 4 9 1,483
Forecasting the Treasury's balance at the Fed 0 0 0 73 2 2 3 315
Greenspan’s conundrum and the Fed’s ability to affect long-term yields 0 0 8 57 2 6 48 218
How did we get to inflation targeting and where do we go now? a perspective from the U.S. experience 0 0 2 47 1 1 5 140
How effective is central bank forward guidance? 0 0 7 96 2 2 34 257
Identifying the liquidity effect: the case of nonborrowed reserves 1 1 1 74 2 3 3 484
Lag length selection and Granger causality 0 1 1 307 2 3 3 645
Lag-length selection criteria: empirical results from the St. Louis equation 0 0 2 60 1 2 4 143
Lifting the veil of secrecy from monetary policy: evidence from the Fed's early discount rate policy 0 0 0 44 1 3 5 329
Monetary policy transparency: transparent about what? 0 0 1 239 1 2 5 578
Monetary policy: why money matters and interest rates don't 0 0 1 173 1 4 9 303
Monetary policy: why money matters, and interest rates don’t 0 0 0 80 0 1 7 99
On the treatment of the weighted initial observation in the AR(1) regression model 0 0 0 2 0 0 0 34
Open market operations and the federal funds rate 0 0 0 153 0 1 4 904
Predicting bond excess returns with forward rates: an asset-allocation perspective 0 1 5 44 0 3 9 121
Predictions of short-term rates and the expectations hypothesis 0 1 2 117 1 3 11 259
Predictions of short-term rates and the expectations hypothesis of the term structure of interest rates 0 0 2 134 1 1 14 331
Predictions of short-term rates and the expectations hypothesis of the term structure of interest rates 0 1 2 156 2 3 14 730
Price expectations and the demand for money: a comment 0 0 1 28 0 1 6 74
Resolving the unbiasedness and forward premium puzzles 1 1 1 56 1 1 2 108
Resolving the unbiasedness puzzle in the foreign exchange market 0 1 1 29 0 1 4 82
Revisiting the predictability of bond risk premia 0 0 0 65 0 1 4 142
Should consumer expenditures be the scale variable in empirical money demand equations? 0 0 0 21 0 0 1 159
Testing the expectations hypothesis: some new evidence for Japan 0 0 0 57 0 0 1 210
Tests of price sluggishness in the U.K 0 0 0 2 0 1 1 25
Tests of the expectations hypothesis: resolving the Campbell-Shiller paradox 1 2 2 436 1 3 9 1,848
Tests of the expectations hypothesis: resolving the anomalies when the short-term rate is the federal funds rate 0 0 3 124 0 1 9 508
The Andersen-Jordan equation, revisited 0 0 0 22 0 0 0 115
The Dynamic Relationship Between the Federal Funds rate and the Treasury Bill Rate: An Empirical Investigation 0 3 18 550 0 9 70 3,081
The Empirical Failure of the Expectations Hypothesis of the Term Structure of Bond Yields 1 1 2 122 1 5 14 380
The Empirical Failure of the Expectations Hypothesis of the Term Structure of Bond Yields 0 0 2 33 1 2 10 116
The Expectation Hypothesis of the Term Structure of Very Short-Term Rates: Statistical Tests and Economic Value 0 0 0 102 1 4 17 406
The Federal Reserve's operating procedure, nonborrowed reserves, borrowed reserves and the liquidity effect 0 1 1 324 2 6 11 2,143
The Federal Reserve’s response to the financial crisis: what it did and what it should have done 0 1 4 141 1 10 22 149
The Phillips Curve and US Monetary Policy: What the FOMC Transcripts Tell Us 1 1 2 8 2 5 12 48
The Phillips curve and US monetary policy: what the FOMC transcripts tell us 0 1 3 76 2 4 11 204
The appropriate autocorrelation transformation when the autocorrelation process has a finite past 0 0 0 28 0 1 3 184
The appropriate interest rate and scale variable in money demand: results from non-nested tests 0 0 0 25 0 1 1 527
The budget constraint, endogenous money and the relative importance of fiscal policy under alternative financing schemes 0 0 0 13 1 1 1 76
The daily and policy-relevant liquidity effects 0 1 1 24 0 2 2 78
The daily and policy-relevant liquidity effects 0 0 0 22 0 0 2 87
The daily liquidity effect 0 0 0 76 0 2 4 424
The dynamic relationship between the federal funds rate and the Treasury bill rate: an empirical investigation 2 3 6 517 2 9 24 2,065
The effect of underreporting on LIBOR rates 0 1 4 28 0 5 15 94
The effectiveness of unconventional monetary policy: the term auction facility 0 1 8 48 2 5 18 119
The efficient market hypothesis and identification in structural VARs 0 0 1 250 0 0 2 855
The empirical failure of the expectations hypothesis of the term structure of bond yields 0 2 5 376 1 3 11 776
The expectation hypothesis of the term structure of very short-term rates: statistical tests and economic value 0 0 4 216 5 13 48 700
The identification of the response of interest rates to monetary policy actions using market-based measures of monetary policy shocks 0 0 2 52 3 15 43 154
The information content of discount rate announcements: what's behind the announcement effect? 0 0 0 82 1 1 4 742
The market's reaction to discount changes: what's behind the announcement effect? 0 0 0 39 0 1 2 377
The real-balance effect with resource-using money: a capital-theoretic interpretation 0 0 0 1 1 1 1 43
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 2 80 4 11 41 902
The relationship between the federal funds rate and the Fed's federal funds rate target: is it open market or open mouth operations? 0 1 2 262 0 3 6 1,717
The unusual behavior of the federal funds and 10-year Treasury rates: a conundrum or Goodhart’s Law? 0 0 2 104 1 1 4 409
Unanticipated money and the anticipated liquidity effect: some further evidence 0 0 1 15 1 1 2 106
Weighted monetary aggregates as intermediate targets 0 0 0 11 0 0 2 43
What do Almon's endpoint constraints constrain? 0 0 0 12 0 0 2 93
What's Unique About the Federal Funds Rate? Evidence from a Spectral Perspective 0 0 0 0 0 1 3 7
What's unique about the federal funds rate? evidence from a spectral perspective 0 0 0 114 1 3 7 553
When did the FOMC begin targeting the federal funds rate? what the verbatim transcripts tell us 0 0 2 101 0 3 11 576
Why do T-bill rates react to discount rate changes? 0 0 1 64 0 0 5 879
Why do market interest rates respond to money announcements? 0 0 0 32 0 0 2 213
Total Working Papers 11 42 169 8,745 76 252 883 43,474


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 1 1 2 71
A history of the asymmetric policy directive 0 1 4 82 0 4 9 302
A note on the efficiency of the cochrane-orcutt estimator of the ar(1) regression model 0 0 2 27 0 1 4 73
A note on the expectations hypothesis at the founding of the Fed 1 1 1 19 2 6 8 91
A perspective on possible Fed exit strategies 0 0 0 17 1 2 7 30
A perspective on the current recession: it's not the "worst case" yet 0 0 0 22 0 1 1 77
A primer on cointegration with an application to money and income 0 0 2 944 2 7 15 1,871
A primer on the mortgage market and mortgage finance 0 2 3 189 1 6 13 525
A proposal for improving forward guidance 0 0 2 21 0 3 7 49
Alternative measures of the monetary base: what are the differences and are they important? 0 0 0 20 0 1 1 189
Alternative policy weapons? 0 0 0 2 0 1 1 33
An early look at the volatility of money and interest rates under CRR 0 0 0 8 0 1 2 47
An experiment is underway 0 0 0 2 0 1 2 29
An extended series of divisia monetary aggregates 0 0 0 38 0 1 4 185
Are Virtual “Currencies” Likely to Succeed? 0 0 0 10 0 2 4 28
Are weighted monetary aggregates better than simple-sum M1? 0 0 1 22 0 1 2 76
Can the FOMC increase the funds rate without reducing reserves? 0 0 1 3 0 3 5 19
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 1 1 3 5
Comments on "Modeling money demand in large industrial countries: Buffer stock and error correction approaches" 0 0 0 5 0 0 2 34
Core versus headline inflation again 0 0 2 15 1 1 4 30
Core versus headline inflation: an opportunity for greater transparency 0 0 0 4 0 0 3 17
Discount rate changes and the foreign exchange market 0 0 0 19 4 15 28 183
Do government deficits matter? 0 0 0 57 0 2 2 268
Does a mild recession imply a weak recovery? 0 0 1 13 1 1 4 51
Does the Fed's new policy of immediate disclosure affect the market? 0 0 0 119 0 2 3 456
Does the economy need more spending now? 0 0 0 3 0 3 5 19
Federal Funds Rate Prediction 0 0 0 0 0 3 6 779
Financial innovation, deregulation and the "credit view" of monetary policy 0 0 3 200 1 4 8 522
Forecasting the Treasury's balance at the Fed 0 0 0 15 0 0 0 170
Greenspan's unconventional view of the long-run inflation/output trade-off 0 0 0 20 1 3 4 80
Has QE been effective? 0 0 6 16 0 1 17 47
Housing and the "R" word 0 0 1 15 0 0 2 41
How Effective Is Central Bank Forward Guidance? 3 4 10 10 7 12 25 25
How did we get to inflation targeting and where do we need to go to now? a perspective from the U.S. experience 0 1 1 17 1 4 6 57
How effective is monetary policy? 0 1 1 34 0 4 12 96
How good are the government’s deficit and debt projections and should we care? 0 1 1 24 1 3 6 64
How robust are the policy conclusions of the St. Louis equation?: some further evidence 0 0 0 23 2 5 11 93
Identifying the liquidity effect at the daily frequency 0 0 1 86 0 3 5 260
Inflation objective and policy credibility: a potential problem for the FOMC 0 0 0 2 1 1 1 15
Interest rate targets abandoned 0 0 0 6 0 1 2 34
Is nominal GDP targeting a rule policymakers could accept? 0 0 1 5 0 1 5 17
Is the FOMC’s policy inflating asset prices? 0 0 0 4 0 1 1 19
Is the FOMC’s unemployment rate threshold a good idea? 0 0 0 4 0 0 0 9
Is there a case for "moderate" inflation? 0 0 1 11 0 1 3 219
Is there less agreement about inflation? 0 0 1 25 0 1 5 69
Lag-Length Selection and Tests of Granger Causality between Money and Income 0 1 10 514 1 6 30 1,301
Lagged and contemporaneous reserve accounting: an alternative view 0 0 0 9 0 0 1 82
Lifting the Veil of Secrecy from Monetary Policy: Evidence from the Fed's Early Discount Rate Policy 0 0 0 0 1 1 3 254
M1 or M2: which is the better monetary target? 0 0 0 23 1 3 5 132
Making monetary policy more transparent 0 0 0 14 0 0 0 49
Making sense of dissents: a history of FOMC dissents 0 1 1 4 1 3 10 16
Market anticipations of monetary policy actions 0 1 1 111 2 4 6 292
Maximum Likelihood Estimates of a Partial Adjustment-Adaptive Expectations Model of the Demand for Money 0 0 1 59 0 1 3 186
Measure for measure: headline versus core inflation 0 1 2 20 1 3 5 67
Monetary anticipations and the demand for money: Reply to MacKinnon and Milbourne 0 0 1 17 1 3 10 92
Monetary policy and longer-term rates: an opportunity for greater transparency 0 0 0 6 0 0 0 19
Monetary policy at the zero bound 0 0 0 12 0 0 2 34
Monetary policy transparency: transparent about what? 0 0 1 40 0 1 7 162
Monetizing the debt 0 1 4 107 0 4 8 576
Monetizing the debt 0 2 8 70 3 9 32 184
Money demand dynamics: some new evidence 0 0 0 34 1 1 1 97
Money in a theory of exchange 0 0 1 113 1 3 7 375
Money, net wealth, and the real-balance effect 0 0 0 5 0 2 2 57
Negating the inflation potential of the Fed's lending programs 0 0 0 10 0 0 1 41
Nominal interest rates: less than zero? 0 0 0 105 0 1 2 582
On the informational content of spot and forward exchange rates 0 0 1 17 1 2 5 53
Open market operations and the federal funds rate 0 1 1 89 0 5 11 365
Out-of-Sample Predictions of Bond Excess Returns and Forward Rates: An Asset Allocation Perspective 0 2 3 15 1 3 7 44
Personal saving and economic growth 1 4 5 37 1 6 8 81
Polynomial distributed lags and the estimation of the St. Louis equation 0 0 1 39 2 5 10 123
Predictability and effectiveness of monetary policy 0 0 0 28 1 1 2 67
Price Expectations and the Demand for Money: A Comment 0 0 0 21 0 0 4 98
Public officials and job creation 0 1 2 6 3 5 7 44
QE: is there a portfolio balance effect? 0 0 3 10 0 1 19 48
Quantitative easing and money growth: potential for higher inflation? 0 0 1 43 0 0 2 87
Simple analytics of the money supply process and monetary control 0 1 2 48 0 2 4 188
Social security, saving, and wealth accumulation 0 0 1 13 0 1 3 47
Solving the 1980s' velocity puzzle: a progress report 0 0 4 48 0 1 9 267
Subprime side effects in the federal funds market 0 0 0 36 0 0 1 92
Targeting M2: the issue of monetary control 0 0 0 14 0 0 3 121
Tax rates and revenue since the 1970s 0 0 0 5 0 1 2 21
Testing the Expectations Hypothesis: Some New Evidence for Japan 0 0 0 13 1 1 7 98
Testing the expectations hypothesis: some new evidence for Japan 0 0 0 52 0 1 2 209
Tests of covered interest rate parity 1 8 14 372 3 21 41 1,722
Tests of the Expectations Hypothesis: Resolving the Campbell-Shiller Paradox 1 2 4 44 3 4 11 179
Tests of the expectations hypothesis: Resolving the anomalies when the short-term rate is the federal funds rate 1 1 3 34 1 1 15 139
Tests of the market's reaction to federal funds rate target changes 0 3 16 273 2 13 58 1,033
The Andersen-Jordan equation revisited 0 0 0 17 1 2 6 91
The Empirical Failure of the Expectations Hypothesis of the Term Structure of Bond Yields 1 1 5 60 2 5 14 175
The FOMC in 1981: monetary control in a changing financial environment 0 0 0 4 0 1 3 35
The FOMC in 1982: de-emphasizing M1 0 1 1 4 0 1 3 36
The FOMC's balance-of-risks statement and market expectations of policy actions 0 0 1 65 2 5 17 577
The FOMC’s interest rate policy: how long is the long run? 0 0 0 5 1 1 1 13
The FOMC’s “considerable period” 0 0 0 21 0 1 6 116
The Fed and short-term rates: Is it open market operations, open mouth operations or interest rate smoothing? 1 2 3 93 1 6 9 263
The Fed's inflation objective 0 0 0 29 0 1 4 74
The Fed, liquidity, and credit allocation 0 0 1 74 0 1 7 247
The Federal Reserve's operating procedure, nonborrowed reserves, borrowed reserves and the liquidity effect 1 3 4 171 2 6 18 685
The Information Content of the Federal Funds Rate: Is It Unique? 0 0 0 44 0 3 6 424
The Phillips curve and US monetary policy: what the FOMC transcripts tell us 0 0 1 29 4 6 12 150
The U.S. deficit/debt problem: a longer-run perspective 0 1 1 19 0 2 2 43
The borrowed-reserves operating procedures: theory and evidence 0 0 1 65 0 1 4 387
The case for "inflation first" monetary policy 0 0 1 2 0 1 3 22
The codification of an FOMC procedure 0 0 0 8 1 1 2 54
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 5 45 1 3 9 207
The discount rate and market interest rates: theory and evidence 0 0 0 68 0 1 2 874
The discount rate and market interest rates: what's the connection? 0 0 0 43 1 3 4 141
The discount rate, interest rates and foreign exchange rates: an analysis with daily data 0 1 1 36 0 3 7 246
The downside of quantitative easing 0 2 4 65 1 6 14 133
The dual mandate: has the Fed changed its objective? 0 0 1 5 0 0 6 32
The dynamic relationship between the federal funds rate and the Treasury bill rate: An empirical investigation 1 1 2 261 1 6 9 1,033
The effect of monetary policy on short-term interest rates 0 0 3 91 1 3 13 404
The effect of the Fed’s purchase of long-term treasuries on the yield curve 0 0 1 27 0 1 6 81
The effect of unanticipated money on the money and foreign exchange markets 0 0 0 16 1 6 8 61
The effect of underreporting on LIBOR rates 0 2 3 27 0 8 17 90
The effectiveness of unconventional monetary policy: the term auction facility 0 0 3 25 0 3 15 108
The efficacy of monetary policy: a tale from two decades 0 0 1 9 0 0 2 21
The efficacy of the FOMC’s zero interest rate policy 0 0 3 9 0 1 4 27
The efficient market hypothesis and identification in structural VARs 0 0 1 160 0 2 6 863
The empirical significance of the real balance effect 0 0 1 10 0 1 6 32
The exceptional 1990s 0 0 2 6 2 3 5 45
The expectation hypothesis of the term structure of very short-term rates: Statistical tests and economic value 0 0 2 176 1 2 10 615
The expected federal budget surplus: how much confidence should the public and policymakers place in the projections? 0 1 3 61 0 5 12 425
The federal debt: too little revenue or too much spending 0 1 1 21 0 2 4 54
The federal debt: what’s the source of the increase in spending? 0 0 0 15 1 2 4 41
The federal funds and long-term rates 0 1 1 24 0 2 5 68
The funds rate target and interest rates 0 0 0 4 0 0 0 41
The golden dollar: the early evidence 0 0 0 3 0 0 0 43
The government budget constraint with endogenous money 0 0 0 15 0 0 0 41
The importance of an asymmetric directive 0 0 0 29 0 3 5 119
The link between M1 and the monetary base in the 198O's 0 0 0 49 0 0 2 420
The lower and upper bounds of the Federal Open Market Committee's long-run inflation objective 0 0 0 17 0 1 21 148
The macroeconomic effects of deficit spending: a review 0 1 7 180 1 7 26 1,164
The monetary policy transmission mechanism? 0 0 1 55 0 1 5 108
The monetary-fiscal policy debate and the Andersen-Jordan equation 0 1 1 57 0 4 10 677
The monetary/fiscal policy debate: a controlled experiment 0 1 1 58 0 2 2 266
The multiplier approach to the money supply process: a precautionary note 0 1 6 369 1 6 48 2,193
The relationship between the daily and policy-relevant liquidity effects 0 0 0 9 1 1 2 60
Using federal funds futures rates to predict Federal Reserve actions 0 0 1 383 0 4 16 2,049
Verbal guidance and the efficacy of forward guidance 0 0 0 16 1 3 6 39
Walter Bagehot, the discount window, and TAF 0 0 0 21 0 1 5 51
What accounts for the reduced frequency of Fed actions? 0 0 0 6 0 0 0 90
What caused long-term rates to rise? 0 0 1 7 0 1 3 30
What does the change in the FOMC's statement of objectives mean? 0 0 0 4 0 0 1 26
What the Libor-OIS spread says 2 8 24 352 2 18 67 776
What's Unique About the Federal Funds Rate? Evidence from a Spectral Perspective 0 1 1 29 0 1 3 152
Which comes first: inflation or the FOMC's funds rate target? 0 0 0 4 2 2 4 22
Why Do T-Bill Rates React to Discount Rate Changes? 0 0 0 77 0 4 20 1,130
Why does velocity matter? 0 1 3 28 2 6 24 116
Why is employment growth so low? 0 2 8 51 1 5 16 96
Why is output growth so slow? 0 0 0 4 0 0 3 15
Withering dissents 0 0 0 1 0 0 0 31
Would QE2 have a significant effect on economic growth, employment, or inflation? 0 1 5 80 0 3 12 165
Would quantitative easing sooner have tempered the financial crisis and economic recession? 0 0 0 95 0 1 2 182
Total Journal Articles 14 76 253 8,677 95 415 1,214 36,913


Statistics updated 2016-07-02