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 1 1 1 187 1 1 9 512
A dynamic factor analysis of the response of U. S. interest rates to news 0 0 0 139 0 1 6 440
A new federal funds rate target series: September 27, 1982, - December 31, 1993 0 0 5 60 1 3 21 306
A note on the expectations hypothesis at the founding of the Fed 0 0 0 82 0 0 3 311
A note on the relative efficiency of the Cochrane-Orcutt and OLS estimators when the autocorrelation process has a finite past 0 0 1 17 0 0 3 97
An Evaluation of Event-Study Evidence on the Effectiveness of the FOMC’s LSAP Program: Are the Announcement Effects Identified? 0 0 3 34 0 2 5 78
Asymmetry in the prime rate and firms' preference for internal finance 0 0 1 82 0 0 4 740
Complete results for lag length selection 0 0 0 47 0 0 1 117
Discount rate changes and the foreign exchange market 0 0 0 28 0 0 3 174
Discount rate policies of five Federal Reserve Chairmen 1 2 4 175 1 2 6 1,602
Do bank loan rates exhibit a countercyclical mark-up? 0 1 3 112 0 1 9 431
Endpoint constraints and the St. Louis equation: a clarification 0 0 0 28 0 0 0 79
Evidence on the portfolio balance channel of quantitative easing 1 3 13 120 6 14 71 426
Federal Funds Rate Prediction 0 0 1 482 1 3 19 6,387
Federal Funds Rate Prediction 0 0 3 20 1 2 14 95
Federal Funds Rate Prediction 0 0 2 202 0 1 15 1,877
Federal funds rate prediction 0 2 3 322 2 6 12 1,494
Forecasting the Treasury's balance at the Fed 0 0 0 73 0 0 4 317
Greenspan’s conundrum and the Fed’s ability to affect long-term yields 1 3 5 62 2 5 18 234
How Effective Is Central Bank Forward Guidance? 0 0 1 96 1 4 11 305
How Effective Is Central Bank Forward Guidance? 0 0 5 91 0 2 15 42
How did we get to inflation targeting and where do we go now? a perspective from the U.S. experience 0 0 1 48 0 1 6 145
How effective is central bank forward guidance? 0 4 7 103 1 8 17 272
Identifying the liquidity effect: the case of nonborrowed reserves 0 0 2 75 0 0 4 486
Lag length selection and Granger causality 0 0 3 310 2 7 14 657
Lag-length selection criteria: empirical results from the St. Louis equation 0 0 0 60 0 3 6 148
Lifting the veil of secrecy from monetary policy: evidence from the Fed's early discount rate policy 0 0 0 44 0 0 3 331
Monetary policy transparency: transparent about what? 1 1 1 240 1 1 3 580
Monetary policy: why money matters and interest rates don't 0 0 1 174 0 2 5 307
Monetary policy: why money matters, and interest rates don’t 0 0 2 82 0 0 7 106
On the treatment of the weighted initial observation in the AR(1) regression model 0 0 0 2 0 0 2 36
Open market operations and the federal funds rate 0 0 0 153 0 1 7 911
Predicting bond excess returns with forward rates: an asset-allocation perspective 0 0 2 46 0 0 2 123
Predictions of short-term rates and the expectations hypothesis 1 1 5 122 2 3 12 270
Predictions of short-term rates and the expectations hypothesis of the term structure of interest rates 0 0 1 157 0 2 7 735
Price expectations and the demand for money: a comment 0 0 0 28 0 0 3 77
Resolving the unbiasedness and forward premium puzzles 1 1 3 58 1 2 7 114
Resolving the unbiasedness puzzle in the foreign exchange market 0 0 0 29 0 0 1 83
Revisiting the predictability of bond risk premia 0 0 2 67 1 1 7 149
Should consumer expenditures be the scale variable in empirical money demand equations? 0 0 0 21 0 0 1 160
Testing the expectations hypothesis: some new evidence for Japan 0 0 0 57 0 0 5 215
Tests of price sluggishness in the U.K 0 0 0 2 0 0 1 26
Tests of the expectations hypothesis: resolving the Campbell-Shiller paradox 0 0 3 438 2 3 17 1,864
Tests of the expectations hypothesis: resolving the anomalies when the short-term rate is the federal funds rate 0 0 0 124 0 0 1 509
The Andersen-Jordan equation, revisited 0 0 0 22 0 0 1 116
The Dynamic Relationship Between the Federal Funds rate and the Treasury Bill Rate: An Empirical Investigation 0 0 4 554 0 2 28 3,109
The Empirical Failure of the Expectations Hypothesis of the Term Structure of Bond Yields 0 0 1 122 1 1 12 391
The Empirical Failure of the Expectations Hypothesis of the Term Structure of Bond Yields 0 1 1 34 0 1 6 121
The Expectation Hypothesis of the Term Structure of Very Short-Term Rates: Statistical Tests and Economic Value 0 1 1 103 1 2 11 416
The Federal Reserve's operating procedure, nonborrowed reserves, borrowed reserves and the liquidity effect 0 0 2 326 0 0 7 2,148
The Federal Reserve’s response to the financial crisis: what it did and what it should have done 0 1 5 146 0 4 18 166
The Phillips Curve and US Monetary Policy: What the FOMC Transcripts Tell Us 0 0 2 9 1 2 11 57
The Phillips curve and US monetary policy: what the FOMC transcripts tell us 0 0 2 78 1 1 13 215
The appropriate autocorrelation transformation when the autocorrelation process has a finite past 0 1 1 29 0 1 1 185
The appropriate interest rate and scale variable in money demand: results from non-nested tests 0 0 0 25 0 0 0 527
The budget constraint, endogenous money and the relative importance of fiscal policy under alternative financing schemes 0 0 0 13 0 1 3 78
The daily and policy-relevant liquidity effects 0 0 1 23 0 0 1 88
The daily liquidity effect 0 1 2 78 0 1 4 428
The dynamic relationship between the federal funds rate and the Treasury bill rate: an empirical investigation 0 0 3 518 1 1 15 2,078
The effect of underreporting on LIBOR rates 0 0 2 30 1 3 13 107
The effectiveness of unconventional monetary policy: the term auction facility 0 0 3 51 1 3 12 129
The efficient market hypothesis and identification in structural VARs 0 1 1 251 0 3 8 863
The empirical failure of the expectations hypothesis of the term structure of bond yields 0 0 1 377 0 0 5 780
The expectation hypothesis of the term structure of very short-term rates: statistical tests and economic value 0 1 2 218 0 2 34 729
The identification of the response of interest rates to monetary policy actions using market-based measures of monetary policy shocks 0 0 2 54 0 2 40 191
The information content of discount rate announcements: what's behind the announcement effect? 0 1 1 83 1 2 6 747
The market's reaction to discount changes: what's behind the announcement effect? 0 0 0 39 0 0 1 378
The real-balance effect with resource-using money: a capital-theoretic interpretation 0 0 0 1 0 0 3 45
The relationship between the federal funds rate and the Fed's federal funds rate target: is it open market or open mouth operations? 1 1 2 264 1 3 8 1,725
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 3 83 0 2 38 936
The unusual behavior of the federal funds and 10-year Treasury rates: a conundrum or Goodhart’s Law? 0 0 1 105 0 0 5 413
Unanticipated money and the anticipated liquidity effect: some further evidence 0 0 0 15 0 0 3 108
Weighted monetary aggregates as intermediate targets 0 0 0 11 0 0 1 44
What do Almon's endpoint constraints constrain? 0 0 0 12 0 0 2 95
What's Unique About the Federal Funds Rate? Evidence from a Spectral Perspective 0 0 0 0 0 1 8 15
What's unique about the federal funds rate? evidence from a spectral perspective 0 0 0 114 0 2 9 561
When did the FOMC begin targeting the federal funds rate? what the verbatim transcripts tell us 0 0 2 103 0 0 14 590
Why do T-bill rates react to discount rate changes? 0 1 1 65 0 1 3 882
Why do market interest rates respond to money announcements? 0 0 2 34 0 1 6 219
Total Working Papers 8 30 132 8,889 35 123 737 44,048
2 registered items for which data could not be found


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 3 73
A history of the asymmetric policy directive 0 0 0 82 0 0 2 304
A note on the efficiency of the cochrane-orcutt estimator of the ar(1) regression model 1 2 3 30 2 3 7 80
A note on the expectations hypothesis at the founding of the Fed 0 0 1 19 0 0 5 94
A perspective on possible Fed exit strategies 0 0 1 18 1 1 4 33
A perspective on the current recession: it's not the "worst case" yet 0 0 1 23 0 0 2 79
A primer on cointegration with an application to money and income 2 7 15 959 6 11 37 1,906
A primer on the mortgage market and mortgage finance 0 1 6 195 3 5 21 545
A proposal for improving forward guidance 0 1 1 22 1 3 3 52
Alternative measures of the monetary base: what are the differences and are they important? 0 0 1 21 0 0 3 192
Alternative policy weapons? 0 0 0 2 0 0 0 33
An early look at the volatility of money and interest rates under CRR 0 0 0 8 0 0 0 47
An experiment is underway 0 0 0 2 0 0 1 30
An extended series of divisia monetary aggregates 0 0 0 38 0 0 1 186
Are Virtual “Currencies” Likely to Succeed? 0 0 1 11 1 1 5 33
Are weighted monetary aggregates better than simple-sum M1? 1 2 3 25 1 4 9 85
Can the FOMC increase the funds rate without reducing reserves? 0 0 1 4 0 0 1 20
Channels of monetary policy. Proceedings of the Nineteenth Annual Economic Policy Conference held October 20-21, 1994 0 0 0 0 0 0 2 151
Channels of monetary policy. Proceedings of the Nineteenth Annual Economic Policy Conference held October 20-21, 1994 0 0 0 1 0 0 1 40
Channels of monetary policy: conference introduction 0 0 0 0 0 0 1 5
Channels of monetary policy: conference introduction 0 0 0 13 0 0 0 50
Comments on "Modeling money demand in large industrial countries: Buffer stock and error correction approaches" 0 0 0 5 0 0 0 34
Core versus headline inflation again 0 0 0 15 0 0 1 30
Core versus headline inflation: an opportunity for greater transparency 0 0 0 4 0 0 2 19
Discount rate changes and the foreign exchange market 1 1 1 20 1 1 22 201
Do government deficits matter? 0 0 0 57 0 0 1 269
Does a mild recession imply a weak recovery? 0 0 0 13 0 0 1 51
Does the Fed's new policy of immediate disclosure affect the market? 0 1 1 120 0 1 3 459
Does the economy need more spending now? 0 0 0 3 0 0 1 20
Federal Funds Rate Prediction 0 0 0 0 0 2 13 792
Financial innovation, deregulation and the "credit view" of monetary policy 0 0 0 200 0 0 3 524
Forecasting the Treasury's balance at the Fed 0 0 2 17 0 0 4 174
Greenspan's unconventional view of the long-run inflation/output trade-off 0 0 0 20 0 1 4 83
Guest editor's introduction: What monetary policy can and cannot do 0 0 3 3 2 2 12 15
Has QE been effective? 0 1 4 20 2 4 14 61
Housing and the "R" word 0 0 0 15 0 0 0 41
How Effective Is Central Bank Forward Guidance? 0 1 16 23 4 7 44 62
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 0 17 0 0 4 60
How effective is monetary policy? 0 1 1 35 0 1 3 99
How good are the government’s deficit and debt projections and should we care? 0 0 0 24 0 1 5 68
How robust are the policy conclusions of the St. Louis equation?: some further evidence 0 1 1 24 0 1 3 94
Identifying the liquidity effect at the daily frequency 0 0 0 86 1 1 4 264
Inflation objective and policy credibility: a potential problem for the FOMC 0 0 0 2 0 0 2 16
Interest rate targets abandoned 0 0 0 6 0 0 1 35
Is nominal GDP targeting a rule policymakers could accept? 0 0 1 6 0 0 3 20
Is the FOMC’s policy inflating asset prices? 0 0 0 4 0 0 0 19
Is the FOMC’s unemployment rate threshold a good idea? 0 0 1 5 0 0 1 10
Is there a case for "moderate" inflation? 0 0 0 11 0 0 0 219
Is there less agreement about inflation? 0 0 1 26 0 0 1 70
Lag-Length Selection and Tests of Granger Causality between Money and Income 1 2 7 521 3 10 25 1,325
Lagged and contemporaneous reserve accounting: an alternative view 0 0 0 9 0 0 1 83
Lifting the Veil of Secrecy from Monetary Policy: Evidence from the Fed's Early Discount Rate Policy 0 0 0 0 0 0 5 258
M1 or M2: which is the better monetary target? 0 0 0 23 0 0 1 132
Making monetary policy more transparent 0 0 0 14 0 0 1 50
Making sense of dissents: a history of FOMC dissents 0 1 4 8 0 3 13 28
Market anticipations of monetary policy actions 0 1 1 112 0 1 11 301
Maximum Likelihood Estimates of a Partial Adjustment-Adaptive Expectations Model of the Demand for Money 0 0 0 59 0 0 3 189
Measure for measure: headline versus core inflation 0 0 1 21 0 0 3 69
Monetary anticipations and the demand for money: Reply to MacKinnon and Milbourne 0 0 1 18 0 0 4 95
Monetary policy and longer-term rates: an opportunity for greater transparency 0 0 0 6 0 0 3 22
Monetary policy at the zero bound 0 0 0 12 0 1 1 35
Monetary policy transparency: transparent about what? 0 0 0 40 0 0 0 162
Monetary policy: Why money matters (and interest rates don’t) 1 1 9 40 2 2 23 110
Monetizing the debt 0 1 5 75 0 3 16 197
Monetizing the debt 0 0 1 108 0 1 6 582
Money demand dynamics: some new evidence 0 0 0 34 1 2 5 101
Money in a theory of exchange 1 1 1 114 1 2 6 380
Money, net wealth, and the real-balance effect 0 0 0 5 0 0 2 59
Negating the inflation potential of the Fed's lending programs 0 0 0 10 0 0 0 41
Nominal interest rates: less than zero? 0 0 2 107 0 0 9 591
On the informational content of spot and forward exchange rates 0 0 0 17 0 0 4 56
Open market operations and the federal funds rate 0 0 1 90 1 3 9 374
Out-of-Sample Predictions of Bond Excess Returns and Forward Rates: An Asset Allocation Perspective 0 1 5 20 0 1 13 56
Personal saving and economic growth 1 3 6 42 1 5 10 90
Polynomial distributed lags and the estimation of the St. Louis equation 0 0 0 39 0 0 6 127
Predictability and effectiveness of monetary policy 0 0 0 28 0 0 3 69
Price Expectations and the Demand for Money: A Comment 0 0 0 21 0 0 4 102
Public officials and job creation 1 1 1 7 1 1 5 46
QE: is there a portfolio balance effect? 2 6 9 19 5 17 34 82
Quantitative easing and money growth: potential for higher inflation? 0 0 0 43 0 0 1 88
Simple analytics of the money supply process and monetary control 0 0 1 49 0 0 2 190
Social security, saving, and wealth accumulation 0 0 1 14 0 0 1 48
Solving the 1980s' velocity puzzle: a progress report 0 0 0 48 0 1 3 270
Subprime side effects in the federal funds market 0 0 0 36 0 0 0 92
Targeting M2: the issue of monetary control 0 0 0 14 0 0 0 121
Tax rates and revenue since the 1970s 0 0 0 5 0 0 0 21
Testing the Expectations Hypothesis: Some New Evidence for Japan 0 0 0 13 1 2 5 102
Testing the expectations hypothesis: some new evidence for Japan 0 0 0 52 1 1 2 211
Tests of covered interest rate parity 1 4 8 379 4 8 28 1,747
Tests of the Expectations Hypothesis: Resolving the Campbell-Shiller Paradox 0 0 2 45 1 1 8 184
Tests of the expectations hypothesis: Resolving the anomalies when the short-term rate is the federal funds rate 0 0 1 34 0 0 3 141
Tests of the market's reaction to federal funds rate target changes 0 2 2 275 3 11 20 1,051
The Andersen-Jordan equation revisited 0 0 0 17 0 0 3 93
The Empirical Failure of the Expectations Hypothesis of the Term Structure of Bond Yields 0 2 4 63 4 10 28 201
The FOMC in 1981: monetary control in a changing financial environment 0 0 0 4 0 0 1 36
The FOMC in 1982: de-emphasizing M1 0 0 0 4 0 0 0 36
The FOMC's balance-of-risks statement and market expectations of policy actions 0 0 2 67 0 1 8 583
The FOMC’s interest rate policy: how long is the long run? 0 0 0 5 0 0 3 15
The FOMC’s “considerable period” 0 0 0 21 0 0 2 118
The Fed and short-term rates: Is it open market operations, open mouth operations or interest rate smoothing? 0 0 2 94 0 0 7 269
The Fed's inflation objective 0 0 0 29 0 0 0 74
The Fed, liquidity, and credit allocation 0 0 0 74 0 0 2 249
The Federal Reserve's operating procedure, nonborrowed reserves, borrowed reserves and the liquidity effect 0 0 1 171 1 4 10 693
The Information Content of the Federal Funds Rate: Is It Unique? 0 0 1 45 0 2 5 429
The Phillips curve and US monetary policy: what the FOMC transcripts tell us 0 0 2 31 1 2 32 178
The U.S. deficit/debt problem: a longer-run perspective 0 0 0 19 2 2 4 47
The borrowed-reserves operating procedures: theory and evidence 0 1 1 66 0 1 4 391
The case for "inflation first" monetary policy 0 0 0 2 0 0 1 23
The codification of an FOMC procedure 0 0 0 8 0 0 3 56
The cost of checkable deposits in the United States 0 0 0 33 1 2 6 539
The costs and benefits of price stability: an assessment of Howitt's rule 0 0 1 46 1 1 9 215
The discount rate and market interest rates: theory and evidence 0 0 0 68 0 1 1 875
The discount rate and market interest rates: what's the connection? 0 0 2 45 1 1 6 146
The discount rate, interest rates and foreign exchange rates: an analysis with daily data 0 0 2 38 0 0 4 250
The downside of quantitative easing 0 2 5 70 0 4 9 141
The dual mandate: has the Fed changed its objective? 0 0 1 6 0 1 4 36
The dynamic relationship between the federal funds rate and the Treasury bill rate: An empirical investigation 0 0 1 261 0 0 11 1,043
The effect of monetary policy on short-term interest rates 0 0 1 92 0 2 6 409
The effect of the Fed’s purchase of long-term treasuries on the yield curve 0 0 0 27 0 2 4 85
The effect of unanticipated money on the money and foreign exchange markets 0 0 0 16 0 0 4 64
The effect of underreporting on LIBOR rates 0 0 5 32 0 1 12 102
The effectiveness of unconventional monetary policy: the term auction facility 0 0 0 25 1 3 4 112
The efficacy of monetary policy: a tale from two decades 0 0 1 10 0 0 2 23
The efficacy of the FOMC’s zero interest rate policy 0 0 0 9 0 0 0 27
The efficient market hypothesis and identification in structural VARs 0 1 2 162 0 1 7 870
The empirical significance of the real balance effect 0 0 0 10 0 1 2 34
The exceptional 1990s 0 0 1 7 0 0 3 46
The expectation hypothesis of the term structure of very short-term rates: Statistical tests and economic value 1 1 1 177 2 3 8 622
The expected federal budget surplus: how much confidence should the public and policymakers place in the projections? 0 0 0 61 1 1 2 427
The federal debt: too little revenue or too much spending 0 0 0 21 0 0 2 56
The federal debt: what’s the source of the increase in spending? 0 0 0 15 0 0 2 42
The federal funds and long-term rates 0 0 0 24 0 0 1 69
The funds rate target and interest rates 0 0 1 5 0 1 4 45
The golden dollar: the early evidence 0 0 0 3 0 0 2 45
The government budget constraint with endogenous money 0 0 2 17 0 0 5 46
The identification of the response of interest rates to monetary policy actions using market-based measures of monetary policy shocks 0 2 3 20 1 3 7 59
The importance of an asymmetric directive 0 0 1 30 0 1 5 124
The link between M1 and the monetary base in the 198O's 0 0 0 49 0 0 2 422
The lower and upper bounds of the Federal Open Market Committee's long-run inflation objective 0 0 0 17 0 4 7 155
The macroeconomic effects of deficit spending: a review 0 1 2 182 0 3 15 1,178
The monetary policy transmission mechanism? 0 0 0 55 0 0 1 109
The monetary-fiscal policy debate and the Andersen-Jordan equation 0 1 1 58 0 3 7 684
The monetary/fiscal policy debate: a controlled experiment 0 0 1 59 0 3 5 271
The multiplier approach to the money supply process: a precautionary note 1 1 4 373 2 4 27 2,219
The relationship between the daily and policy-relevant liquidity effects 0 0 0 9 0 2 5 64
Using federal funds futures rates to predict Federal Reserve actions 0 2 3 386 0 3 9 2,058
Verbal guidance and the efficacy of forward guidance 0 0 0 16 0 0 2 40
Walter Bagehot, the discount window, and TAF 0 0 0 21 1 1 1 52
What accounts for the reduced frequency of Fed actions? 0 0 0 6 0 0 4 94
What caused long-term rates to rise? 0 0 0 7 0 0 2 32
What does the change in the FOMC's statement of objectives mean? 0 0 0 4 0 0 0 26
What the Libor-OIS spread says 0 1 6 356 4 5 14 788
What's Unique About the Federal Funds Rate? Evidence from a Spectral Perspective 0 0 0 29 0 1 8 160
Which comes first: inflation or the FOMC's funds rate target? 0 0 0 4 0 0 2 22
Why Do T-Bill Rates React to Discount Rate Changes? 0 0 0 77 0 1 4 1,134
Why does velocity matter? 0 0 1 29 1 3 15 129
Why is employment growth so low? 1 4 7 58 1 4 11 106
Why is output growth so slow? 0 0 0 4 0 0 1 16
Withering dissents 0 0 0 1 0 0 0 31
Would QE2 have a significant effect on economic growth, employment, or inflation? 0 0 1 81 0 0 2 167
Would quantitative easing sooner have tempered the financial crisis and economic recession? 0 0 0 95 0 1 3 185
Total Journal Articles 16 62 204 8,928 75 215 951 38,110


Statistics updated 2017-06-02