Access Statistics for Daniel Thornton

Author contact details at EconPapers.

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 1 6 497
A dynamic factor analysis of the response of U. S. interest rates to news 0 0 0 137 2 2 7 425
A new federal funds rate target series: September 27, 1982, - December 31, 1993 0 0 0 52 1 2 3 258
A note on the expectations hypothesis at the founding of the Fed 0 0 0 82 1 1 2 301
A note on the relative efficiency of the Cochrane-Orcutt and OLS estimators when the autocorrelation process has a finite past 1 1 1 16 1 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 9 25 2 3 44 60
Asymmetry in the prime rate and firms' preference for internal finance 0 1 2 80 0 3 7 733
Complete results for lag length selection 0 1 1 46 1 2 2 114
Discount rate changes and the foreign exchange market 0 0 1 28 1 1 3 171
Discount rate policies of five Federal Reserve Chairmen 0 0 0 171 1 1 2 1,594
Do bank loan rates exhibit a countercyclical mark-up? 0 0 2 106 1 2 12 417
Endpoint constraints and the St. Louis equation: a clarification 0 0 0 28 1 1 1 78
Evidence on the portfolio balance channel of quantitative easing 6 8 21 83 10 22 98 249
Federal Funds Rate Prediction 0 1 1 197 1 2 6 1,850
Federal Funds Rate Prediction 0 0 1 14 1 4 10 76
Federal Funds Rate Prediction 0 0 1 479 0 0 16 6,363
Federal funds rate prediction 1 2 6 318 3 4 18 1,474
Forecasting the Treasury's balance at the Fed 0 0 0 73 1 2 5 312
Greenspan’s conundrum and the Fed’s ability to affect long-term yields 2 6 13 49 5 22 93 170
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 1 22 135
How effective is central bank forward guidance? 0 3 18 89 6 14 70 223
Identifying the liquidity effect: the case of nonborrowed reserves 0 0 1 73 0 0 8 481
Lag length selection and Granger causality 0 1 3 306 1 2 6 642
Lag-length selection criteria: empirical results from the St. Louis equation 0 0 0 58 1 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 1 10 573
Monetary policy: why money matters and interest rates don't 0 0 3 172 1 1 32 294
Monetary policy: why money matters, and interest rates don’t 0 0 5 80 3 5 40 92
On the treatment of the weighted initial observation in the AR(1) regression model 0 0 0 2 1 1 2 34
Open market operations and the federal funds rate 0 1 3 153 0 1 12 900
Predicting bond excess returns with forward rates: an asset-allocation perspective 0 0 0 39 1 3 11 112
Predictions of short-term rates and the expectations hypothesis 0 0 4 115 1 4 42 248
Predictions of short-term rates and the expectations hypothesis of the term structure of interest rates 0 0 1 154 0 0 6 716
Predictions of short-term rates and the expectations hypothesis of the term structure of interest rates 2 4 5 132 2 6 25 317
Price expectations and the demand for money: a comment 0 0 1 27 1 1 2 68
Resolving the unbiasedness and forward premium puzzles 0 0 0 55 0 2 4 106
Resolving the unbiasedness puzzle in the foreign exchange market 0 1 3 28 1 3 9 78
Revisiting the predictability of bond risk premia 0 1 1 65 1 2 25 138
Should consumer expenditures be the scale variable in empirical money demand equations? 0 0 0 21 1 1 3 158
Testing the expectations hypothesis: some new evidence for Japan 0 0 1 57 1 1 4 209
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 2 7 434 0 5 41 1,839
Tests of the expectations hypothesis: resolving the anomalies when the short-term rate is the federal funds rate 0 0 0 121 0 2 4 499
The Andersen-Jordan equation, revisited 0 0 1 22 1 1 3 115
The Dynamic Relationship Between the Federal Funds rate and the Treasury Bill Rate: An Empirical Investigation 2 10 28 532 10 37 149 3,011
The Empirical Failure of the Expectations Hypothesis of the Term Structure of Bond Yields 0 1 4 31 0 3 19 106
The Empirical Failure of the Expectations Hypothesis of the Term Structure of Bond Yields 1 1 3 120 1 2 12 366
The Expectation Hypothesis of the Term Structure of Very Short-Term Rates: Statistical Tests and Economic Value 0 1 3 102 1 3 10 389
The Federal Reserve's operating procedure, nonborrowed reserves, borrowed reserves and the liquidity effect 0 1 4 323 0 1 8 2,132
The Federal Reserve’s response to the financial crisis: what it did and what it should have done 1 2 10 137 4 7 35 127
The Phillips Curve and US Monetary Policy: What the FOMC Transcripts Tell Us 0 0 2 6 1 2 8 36
The Phillips curve and US monetary policy: what the FOMC transcripts tell us 2 2 9 73 2 2 19 193
The appropriate autocorrelation transformation when the autocorrelation process has a finite past 0 0 0 28 0 0 0 181
The appropriate interest rate and scale variable in money demand: results from non-nested tests 0 0 0 25 1 1 1 526
The budget constraint, endogenous money and the relative importance of fiscal policy under alternative financing schemes 0 0 0 13 1 1 1 75
The daily and policy-relevant liquidity effects 0 0 0 23 1 2 5 76
The daily and policy-relevant liquidity effects 0 0 1 22 0 0 22 85
The daily liquidity effect 0 0 3 76 0 0 10 420
The dynamic relationship between the federal funds rate and the Treasury bill rate: an empirical investigation 0 0 1 511 1 4 24 2,041
The effect of underreporting on LIBOR rates 0 0 4 24 3 3 22 79
The effectiveness of unconventional monetary policy: the term auction facility 0 0 2 40 2 4 17 101
The efficient market hypothesis and identification in structural VARs 0 0 1 249 0 2 5 853
The empirical failure of the expectations hypothesis of the term structure of bond yields 1 3 6 371 2 8 20 765
The expectation hypothesis of the term structure of very short-term rates: statistical tests and economic value 0 0 4 212 0 3 18 652
The identification of the response of interest rates to monetary policy actions using market-based measures of monetary policy shocks 1 2 4 50 3 5 14 111
The information content of discount rate announcements: what's behind the announcement effect? 0 0 0 82 0 0 4 738
The market's reaction to discount changes: what's behind the announcement effect? 0 0 0 39 0 0 5 375
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 0 3 78 5 21 52 861
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 2 13 1,711
The unusual behavior of the federal funds and 10-year Treasury rates: a conundrum or Goodhart’s Law? 1 2 3 102 2 5 11 405
Unanticipated money and the anticipated liquidity effect: some further evidence 0 0 1 14 0 0 1 104
Weighted monetary aggregates as intermediate targets 0 0 1 11 1 2 3 41
What do Almon's endpoint constraints constrain? 1 1 1 12 2 8 8 91
What's Unique About the Federal Funds Rate? Evidence from a Spectral Perspective 0 0 0 0 1 1 2 4
What's unique about the federal funds rate? evidence from a spectral perspective 0 0 1 114 1 1 6 546
When did the FOMC begin targeting the federal funds rate? what the verbatim transcripts tell us 1 1 5 99 4 5 19 565
Why do T-bill rates react to discount rate changes? 0 1 1 63 0 3 8 874
Why do market interest rates respond to money announcements? 1 1 2 32 2 2 5 211
Total Working Papers 24 62 228 8,576 107 274 1,281 42,591


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 0 0 1 293
A note on the efficiency of the cochrane-orcutt estimator of the ar(1) regression model 0 0 1 25 1 1 3 69
A note on the expectations hypothesis at the founding of the Fed 0 0 0 18 1 1 8 83
A perspective on possible Fed exit strategies 0 2 9 17 1 5 13 23
A perspective on the current recession: it's not the "worst case" yet 0 0 1 22 0 0 13 76
A primer on cointegration with an application to money and income 1 5 16 942 3 9 45 1,856
A primer on the mortgage market and mortgage finance 0 0 3 186 1 1 9 512
A proposal for improving forward guidance 0 0 5 19 2 4 9 42
Alternative measures of the monetary base: what are the differences and are they important? 0 0 0 20 0 1 1 188
Alternative policy weapons? 0 0 0 2 1 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 1 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 8 10 1 2 20 24
Are weighted monetary aggregates better than simple-sum M1? 0 0 0 21 1 1 2 74
Can the FOMC increase the funds rate without reducing reserves? 0 0 0 2 2 2 5 14
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 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 1 2 4 26
Core versus headline inflation: an opportunity for greater transparency 0 0 0 4 1 2 2 14
Discount rate changes and the foreign exchange market 0 0 0 19 0 1 15 155
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 1 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 2 14
Federal Funds Rate Prediction 0 0 0 0 1 1 5 773
Financial innovation, deregulation and the "credit view" of monetary policy 0 0 0 197 1 1 1 514
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 1 76
Has QE been effective? 0 1 8 10 2 7 21 30
Housing and the "R" word 0 0 0 14 1 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 1 1 7 51
How effective is monetary policy? 0 0 0 33 1 2 4 84
How good are the government’s deficit and debt projections and should we care? 0 1 5 23 0 1 10 58
How robust are the policy conclusions of the St. Louis equation?: some further evidence 0 0 1 23 0 1 4 82
Identifying the liquidity effect at the daily frequency 1 2 3 85 2 3 6 255
Inflation objective and policy credibility: a potential problem for the FOMC 0 0 0 2 2 3 4 14
Interest rate targets abandoned 0 0 0 6 1 1 1 32
Is nominal GDP targeting a rule policymakers could accept? 0 0 3 4 1 2 7 12
Is the FOMC’s policy inflating asset prices? 1 1 2 4 3 4 6 18
Is the FOMC’s unemployment rate threshold a good idea? 0 0 0 4 2 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 1 4 64
Lag-Length Selection and Tests of Granger Causality between Money and Income 2 4 27 504 7 15 81 1,271
Lagged and contemporaneous reserve accounting: an alternative view 0 0 1 9 1 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 4 251
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 2 2 3 49
Making sense of dissents: a history of FOMC dissents 1 1 3 3 1 1 6 6
Market anticipations of monetary policy actions 0 0 2 110 0 1 10 286
Maximum Likelihood Estimates of a Partial Adjustment-Adaptive Expectations Model of the Demand for Money 0 0 0 58 0 1 3 183
Measure for measure: headline versus core inflation 0 0 1 18 1 1 6 62
Monetary anticipations and the demand for money: Reply to MacKinnon and Milbourne 0 0 0 16 0 0 0 82
Monetary policy and longer-term rates: an opportunity for greater transparency 0 0 0 6 1 2 4 19
Monetary policy at the zero bound 0 1 1 12 2 5 5 32
Monetary policy transparency: transparent about what? 0 0 1 39 1 2 4 155
Monetizing the debt 0 4 9 62 1 7 24 152
Monetizing the debt 0 0 1 103 0 2 5 568
Money demand dynamics: some new evidence 0 0 1 34 1 1 3 96
Money in a theory of exchange 0 0 0 112 1 1 4 368
Money, net wealth, and the real-balance effect 0 0 0 5 1 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? 1 2 4 105 2 4 7 580
On the informational content of spot and forward exchange rates 0 1 2 16 0 1 5 48
Open market operations and the federal funds rate 0 0 2 88 2 2 10 354
Out-of-Sample Predictions of Bond Excess Returns and Forward Rates: An Asset Allocation Perspective 0 1 5 12 2 4 18 37
Personal saving and economic growth 0 1 4 32 1 3 7 73
Polynomial distributed lags and the estimation of the St. Louis equation 0 0 1 38 0 0 6 113
Predictability and effectiveness of monetary policy 0 0 0 28 0 0 1 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 1 4 4 37
QE: is there a portfolio balance effect? 0 2 6 7 1 9 21 29
Quantitative easing and money growth: potential for higher inflation? 0 0 9 42 1 4 17 85
Simple analytics of the money supply process and monetary control 0 0 2 46 1 3 6 184
Social security, saving, and wealth accumulation 0 2 2 12 0 2 3 44
Solving the 1980s' velocity puzzle: a progress report 0 0 1 44 3 3 5 258
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 1 1 1 118
Tax rates and revenue since the 1970s 0 0 0 5 1 2 2 19
Testing the Expectations Hypothesis: Some New Evidence for Japan 0 0 0 13 1 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 2 7 358 2 9 25 1,681
Tests of the Expectations Hypothesis: Resolving the Campbell-Shiller Paradox 0 3 4 40 0 5 11 168
Tests of the expectations hypothesis: Resolving the anomalies when the short-term rate is the federal funds rate 0 1 1 31 0 1 3 124
Tests of the market's reaction to federal funds rate target changes 0 0 5 257 3 6 14 975
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 55 0 4 24 161
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 1 1 1 33
The FOMC's balance-of-risks statement and market expectations of policy actions 0 0 0 64 3 9 13 560
The FOMC’s interest rate policy: how long is the long run? 0 0 0 5 2 2 2 12
The FOMC’s “considerable period” 0 0 0 21 0 1 6 110
The Fed and short-term rates: Is it open market operations, open mouth operations or interest rate smoothing? 0 1 1 90 1 3 5 254
The Fed's inflation objective 0 1 1 29 1 2 2 70
The Fed, liquidity, and credit allocation 0 0 0 73 2 3 26 240
The Federal Reserve's operating procedure, nonborrowed reserves, borrowed reserves and the liquidity effect 0 1 3 167 1 5 14 667
The Information Content of the Federal Funds Rate: Is It Unique? 0 0 0 44 0 0 3 418
The Phillips curve and US monetary policy: what the FOMC transcripts tell us 1 1 5 28 2 3 23 138
The U.S. deficit/debt problem: a longer-run perspective 0 0 5 18 1 2 10 41
The borrowed-reserves operating procedures: theory and evidence 0 0 1 64 0 0 3 383
The case for "inflation first" monetary policy 0 0 0 1 2 2 4 19
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 0 0 40 1 2 5 198
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 1 7 239
The downside of quantitative easing 0 2 3 61 3 8 11 119
The dual mandate: has the Fed changed its objective? 0 0 0 4 0 0 4 26
The dynamic relationship between the federal funds rate and the Treasury bill rate: An empirical investigation 0 1 7 259 0 3 15 1,024
The effect of monetary policy on short-term interest rates 1 2 4 88 2 5 13 391
The effect of the Fed’s purchase of long-term treasuries on the yield curve 1 1 1 26 1 2 6 75
The effect of unanticipated money on the money and foreign exchange markets 0 0 1 16 1 1 2 53
The effect of underreporting on LIBOR rates 1 2 8 24 2 6 28 73
The effectiveness of unconventional monetary policy: the term auction facility 0 0 4 22 0 1 12 93
The efficacy of monetary policy: a tale from two decades 0 0 1 8 1 2 5 19
The efficacy of the FOMC’s zero interest rate policy 0 0 0 6 1 1 4 23
The efficient market hypothesis and identification in structural VARs 1 1 1 159 2 3 7 857
The empirical significance of the real balance effect 0 0 0 9 0 0 0 26
The exceptional 1990s 0 0 0 4 0 1 1 40
The expectation hypothesis of the term structure of very short-term rates: Statistical tests and economic value 0 3 8 174 3 8 42 605
The expected federal budget surplus: how much confidence should the public and policymakers place in the projections? 0 0 0 58 0 0 2 413
The federal debt: too little revenue or too much spending 0 0 3 20 2 4 8 50
The federal debt: what’s the source of the increase in spending? 0 1 1 15 1 4 5 37
The federal funds and long-term rates 0 0 2 23 1 1 4 63
The funds rate target and interest rates 0 0 0 4 2 3 9 41
The golden dollar: the early evidence 0 0 0 3 0 1 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 1 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 2 3 15 127
The macroeconomic effects of deficit spending: a review 0 0 4 173 0 2 23 1,138
The monetary policy transmission mechanism? 1 4 6 54 2 5 12 103
The monetary-fiscal policy debate and the Andersen-Jordan equation 0 0 1 56 1 1 3 667
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 9 363 5 17 59 2,145
The relationship between the daily and policy-relevant liquidity effects 0 1 1 9 0 2 2 58
Using federal funds futures rates to predict Federal Reserve actions 0 1 2 382 1 2 6 2,033
Verbal guidance and the efficacy of forward guidance 0 0 3 16 2 2 7 33
Walter Bagehot, the discount window, and TAF 0 0 1 21 1 1 2 46
What accounts for the reduced frequency of Fed actions? 0 0 0 6 1 1 2 90
What caused long-term rates to rise? 0 0 0 6 1 1 1 27
What does the change in the FOMC's statement of objectives mean? 0 0 0 4 2 2 2 25
What the Libor-OIS spread says 1 8 14 328 4 22 54 709
What's Unique About the Federal Funds Rate? Evidence from a Spectral Perspective 0 0 1 28 2 2 4 149
Which comes first: inflation or the FOMC's funds rate target? 0 0 0 4 1 2 3 18
Why Do T-Bill Rates React to Discount Rate Changes? 0 0 0 77 1 2 14 1,110
Why does velocity matter? 1 1 3 25 4 5 10 92
Why is employment growth so low? 1 4 14 43 3 7 23 80
Why is output growth so slow? 0 0 0 4 1 2 2 12
Withering dissents 0 0 0 1 0 0 2 31
Would QE2 have a significant effect on economic growth, employment, or inflation? 1 1 3 75 4 5 11 153
Would quantitative easing sooner have tempered the financial crisis and economic recession? 0 1 2 95 0 1 5 180
Total Journal Articles 17 77 306 8,424 158 358 1,189 35,699


Statistics updated 2015-07-02