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 1 184 0 2 11 491
A dynamic factor analysis of the response of U. S. interest rates to news 0 0 1 137 0 0 7 418
A new federal funds rate target series: September 27, 1982, - December 31, 1993 0 1 1 52 0 1 4 255
A note on the expectations hypothesis at the founding of the Fed 0 0 3 82 0 0 10 297
A note on the relative efficiency of the Cochrane-Orcutt and OLS estimators when the autocorrelation process has a finite past 0 0 0 15 1 1 6 87
An Evaluation of Event-Study Evidence on the Effectiveness of the FOMC’s LSAP Program: Are the Announcement Effects Identified? 0 1 13 13 2 4 10 10
Asymmetry in the prime rate and firms' preference for internal finance 0 0 3 78 2 2 15 724
Complete results for lag length selection 0 0 2 45 0 0 4 109
Discount rate changes and the foreign exchange market 0 0 0 26 0 0 7 164
Discount rate policies of five Federal Reserve Chairmen 0 0 0 169 0 2 5 1,590
Do bank loan rates exhibit a countercyclical mark-up? 0 1 3 104 0 3 13 402
Endpoint constraints and the St. Louis equation: a clarification 0 0 0 28 0 0 1 77
Evidence on the portfolio balance channel of quantitative easing 1 3 17 54 8 15 78 128
Federal Funds Rate Prediction 0 0 0 13 0 5 13 60
Federal Funds Rate Prediction 0 0 2 196 0 1 17 1,842
Federal Funds Rate Prediction 1 1 2 478 1 3 12 6,340
Federal funds rate prediction 0 0 1 312 1 1 8 1,456
Forecasting the Treasury's balance at the Fed 0 0 2 72 0 1 8 304
Greenspan’s conundrum and the Fed’s ability to affect long-term yields 1 3 9 34 4 10 44 63
How did we get to inflation targeting and where do we go now? a perspective from the U.S. experience 0 0 1 45 1 2 22 112
How effective is central bank forward guidance? 7 10 31 62 15 24 110 118
Identifying the liquidity effect: the case of nonborrowed reserves 0 0 0 72 1 2 19 470
Lag length selection and Granger causality 0 0 13 300 0 4 50 623
Lag-length selection criteria: empirical results from the St. Louis equation 0 0 2 58 0 0 8 138
Lifting the veil of secrecy from monetary policy: evidence from the Fed's early discount rate policy 0 2 2 43 2 5 9 322
Monetary policy transparency: transparent about what? 0 0 4 236 2 6 16 558
Monetary policy: why money matters and interest rates don't 0 5 7 167 3 8 22 256
Monetary policy: why money matters, and interest rates don’t 1 4 8 72 3 10 25 44
On the treatment of the weighted initial observation in the AR(1) regression model 0 0 0 2 0 1 1 32
Open market operations and the federal funds rate 1 3 10 148 1 4 30 879
Predicting bond excess returns with forward rates: an asset-allocation perspective 0 1 3 39 1 6 13 100
Predictions of short-term rates and the expectations hypothesis 0 1 9 110 2 9 38 201
Predictions of short-term rates and the expectations hypothesis of the term structure of interest rates 0 1 4 153 2 4 13 710
Predictions of short-term rates and the expectations hypothesis of the term structure of interest rates 0 1 10 125 2 8 48 286
Price expectations and the demand for money: a comment 0 1 3 26 0 1 3 65
Resolving the unbiasedness and forward premium puzzles 0 0 1 55 1 1 6 102
Resolving the unbiasedness puzzle in the foreign exchange market 1 2 4 23 1 2 11 65
Revisiting the predictability of bond risk premia 1 2 5 63 1 2 17 107
Should consumer expenditures be the scale variable in empirical money demand equations? 0 0 1 21 0 1 9 155
Testing the expectations hypothesis: some new evidence for Japan 0 0 0 56 2 4 12 202
Tests of price sluggishness in the U.K 0 0 1 2 0 0 2 23
Tests of the expectations hypothesis: resolving the Campbell-Shiller paradox 0 0 8 426 5 12 72 1,787
Tests of the expectations hypothesis: resolving the anomalies when the short-term rate is the federal funds rate 0 0 1 121 0 0 10 492
The Andersen-Jordan equation, revisited 0 0 0 20 1 1 5 111
The Dynamic Relationship Between the Federal Funds rate and the Treasury Bill Rate: An Empirical Investigation 8 13 45 496 32 55 199 2,805
The Empirical Failure of the Expectations Hypothesis of the Term Structure of Bond Yields 0 0 2 27 0 1 16 85
The Empirical Failure of the Expectations Hypothesis of the Term Structure of Bond Yields 1 1 5 115 4 6 29 345
The Expectation Hypothesis of the Term Structure of Very Short-Term Rates: Statistical Tests and Economic Value 0 2 9 99 3 11 57 375
The Federal Reserve's operating procedure, nonborrowed reserves, borrowed reserves and the liquidity effect 2 2 4 317 2 2 31 2,121
The Federal Reserve’s response to the financial crisis: what it did and what it should have done 0 3 16 124 2 8 59 80
The Phillips Curve and US Monetary Policy: What the FOMC Transcripts Tell Us 1 1 2 3 1 1 14 26
The Phillips curve and US monetary policy: what the FOMC transcripts tell us 0 1 8 63 5 10 32 163
The appropriate autocorrelation transformation when the autocorrelation process has a finite past 0 0 0 28 0 1 3 181
The appropriate interest rate and scale variable in money demand: results from non-nested tests 0 0 0 25 0 0 10 525
The budget constraint, endogenous money and the relative importance of fiscal policy under alternative financing schemes 0 0 0 13 0 2 3 74
The daily and policy-relevant liquidity effects 0 0 1 21 0 2 4 63
The daily and policy-relevant liquidity effects 1 1 1 23 1 2 3 70
The daily liquidity effect 0 2 3 72 1 7 51 408
The dynamic relationship between the federal funds rate and the Treasury bill rate: an empirical investigation 1 2 12 508 11 28 112 1,994
The effect of underreporting on LIBOR rates 1 4 16 17 7 14 44 45
The effectiveness of unconventional monetary policy: the term auction facility 0 2 3 37 2 6 19 75
The efficient market hypothesis and identification in structural VARs 0 0 1 247 0 2 10 846
The empirical failure of the expectations hypothesis of the term structure of bond yields 0 0 13 362 0 3 33 737
The expectation hypothesis of the term structure of very short-term rates: statistical tests and economic value 0 2 8 207 4 10 43 630
The identification of the response of interest rates to monetary policy actions using market-based measures of monetary policy shocks 0 0 4 45 1 3 13 93
The information content of discount rate announcements: what's behind the announcement effect? 0 0 1 82 1 1 12 732
The market's reaction to discount changes: what's behind the announcement effect? 0 0 0 39 1 2 13 368
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? 1 2 8 74 8 15 101 774
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 1 257 0 3 12 1,695
The unusual behavior of the federal funds and 10-year Treasury rates: a conundrum or Goodhart’s Law? 1 1 2 97 2 2 7 392
Unanticipated money and the anticipated liquidity effect: some further evidence 0 0 1 13 0 0 3 102
Weighted monetary aggregates as intermediate targets 0 0 1 10 0 2 7 38
What do Almon's endpoint constraints constrain? 0 0 0 11 0 1 21 83
What's Unique About the Federal Funds Rate? Evidence from a Spectral Perspective 0 0 0 0 0 1 1 1
What's unique about the federal funds rate? evidence from a spectral perspective 0 0 1 112 0 0 14 537
When did the FOMC begin targeting the federal funds rate? what the verbatim transcripts tell us 1 1 2 93 3 6 21 540
Why do T-bill rates react to discount rate changes? 0 0 0 61 0 2 11 865
Why do market interest rates respond to money announcements? 1 2 5 30 1 3 13 206
Total Working Papers 33 85 363 8,266 157 380 1,865 40,891


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 2 67
A history of the asymmetric policy directive 0 1 3 76 0 1 9 291
A note on the efficiency of the cochrane-orcutt estimator of the ar(1) regression model 0 1 2 23 0 2 9 64
A note on the expectations hypothesis at the founding of the Fed 0 0 0 18 1 1 6 75
A perspective on possible Fed exit strategies 0 1 5 5 0 2 6 6
A perspective on the current recession: it's not the "worst case" yet 0 0 0 20 1 1 4 61
A primer on cointegration with an application to money and income 0 7 35 921 2 22 88 1,797
A primer on the mortgage market and mortgage finance 0 4 12 181 2 7 33 498
A proposal for improving forward guidance 3 7 12 12 5 11 28 30
Alternative measures of the monetary base: what are the differences and are they important? 1 1 2 20 1 2 6 187
Alternative policy weapons? 0 1 1 2 0 1 1 30
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 1 1 2 1 2 3 26
An extended series of divisia monetary aggregates 0 0 1 38 0 0 10 180
Are weighted monetary aggregates better than simple-sum M1? 0 0 0 21 0 0 0 72
Can the FOMC increase the funds rate without reducing reserves? 0 0 1 2 0 0 3 9
Channels of monetary policy. Proceedings of the Nineteenth Annual Economic Policy Conference held October 20-21, 1994 0 1 1 1 0 1 1 39
Channels of monetary policy: conference introduction 0 0 0 0 0 0 1 1
Comments on "Modeling money demand in large industrial countries: Buffer stock and error correction approaches" 0 0 0 5 0 0 3 32
Core versus headline inflation again 0 0 2 12 0 0 4 21
Core versus headline inflation: an opportunity for greater transparency 0 0 1 4 0 0 3 12
Discount rate changes and the foreign exchange market 0 0 1 19 2 5 24 138
Do government deficits matter? 0 0 0 57 0 0 2 266
Does a mild recession imply a weak recovery? 0 0 0 12 0 0 1 43
Does the Fed's new policy of immediate disclosure affect the market? 0 0 1 119 0 0 3 451
Does the economy need more spending now? 0 0 3 3 1 4 10 10
Federal Funds Rate Prediction 0 0 0 0 1 7 21 758
Financial innovation, deregulation and the "credit view" of monetary policy 1 2 10 197 2 6 22 513
Forecasting the Treasury's balance at the Fed 0 0 0 15 0 0 4 166
Greenspan's unconventional view of the long-run inflation/output trade-off 0 0 0 20 0 0 4 74
Has QE been effective? 0 0 0 0 3 4 4 4
Housing and the "R" word 0 0 0 14 0 0 2 38
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 3 15 0 1 12 41
How effective is monetary policy? 1 1 1 33 1 2 6 80
How good are the government’s deficit and debt projections and should we care? 0 0 5 17 0 2 14 47
How robust are the policy conclusions of the St. Louis equation?: some further evidence 0 0 0 21 1 1 2 77
Identifying the liquidity effect at the daily frequency 0 0 2 82 0 0 8 248
Inflation objective and policy credibility: a potential problem for the FOMC 0 1 1 1 0 2 7 8
Interest rate targets abandoned 0 1 1 6 0 1 7 31
Is nominal GDP targeting a rule policymakers could accept? 1 1 1 1 2 5 5 5
Is the FOMC’s policy inflating asset prices? 0 0 1 2 0 0 4 11
Is the FOMC’s unemployment rate threshold a good idea? 0 0 3 4 0 1 5 6
Is there a case for "moderate" inflation? 0 0 0 10 0 0 1 216
Is there less agreement about inflation? 0 1 4 24 1 4 11 59
Lag-Length Selection and Tests of Granger Causality between Money and Income 2 4 18 469 12 20 76 1,163
Lagged and contemporaneous reserve accounting: an alternative view 0 0 0 8 0 0 0 77
Lifting the Veil of Secrecy from Monetary Policy: Evidence from the Fed's Early Discount Rate Policy 0 0 0 0 1 5 15 243
M1 or M2: which is the better monetary target? 0 0 1 22 2 4 9 124
Making monetary policy more transparent 0 1 1 13 0 2 7 46
Market anticipations of monetary policy actions 0 1 4 108 1 2 19 273
Maximum Likelihood Estimates of a Partial Adjustment-Adaptive Expectations Model of the Demand for Money 0 1 3 57 1 2 10 179
Measure for measure: headline versus core inflation 0 0 2 17 0 1 4 56
Monetary anticipations and the demand for money: Reply to MacKinnon and Milbourne 0 1 1 16 0 2 4 79
Monetary policy and longer-term rates: an opportunity for greater transparency 0 0 0 6 0 0 2 15
Monetary policy at the zero bound 0 0 0 11 0 0 8 27
Monetary policy transparency: transparent about what? 0 0 3 37 2 2 7 148
Monetizing the debt 1 3 13 51 4 14 34 114
Monetizing the debt 0 0 0 102 0 2 8 561
Money demand dynamics: some new evidence 0 0 0 33 0 0 3 93
Money in a theory of exchange 1 1 1 112 1 2 5 364
Money, net wealth, and the real-balance effect 0 0 0 5 0 0 1 53
Negating the inflation potential of the Fed's lending programs 0 0 0 10 1 3 5 38
Nominal interest rates: less than zero? 0 0 2 101 1 1 21 563
On the informational content of spot and forward exchange rates 0 0 0 14 2 2 3 43
Open market operations and the federal funds rate 0 3 10 86 1 9 27 341
Out-of-Sample Predictions of Bond Excess Returns and Forward Rates: An Asset Allocation Perspective 1 1 4 5 1 4 10 13
Personal saving and economic growth 0 0 3 28 1 3 13 66
Polynomial distributed lags and the estimation of the St. Louis equation 0 0 1 37 0 0 5 107
Predictability and effectiveness of monetary policy 0 1 1 28 0 1 7 63
Price Expectations and the Demand for Money: A Comment 0 1 1 21 0 1 12 93
Public officials and job creation 0 0 0 4 0 0 5 32
QE: is there a portfolio balance effect? 1 1 1 1 5 5 5 5
Quantitative easing and money growth: potential for higher inflation? 2 5 15 32 2 5 32 66
Simple analytics of the money supply process and monetary control 0 0 0 43 0 0 4 177
Social security, saving, and wealth accumulation 0 0 0 10 0 0 2 39
Solving the 1980s' velocity puzzle: a progress report 0 0 1 42 1 1 5 251
Subprime side effects in the federal funds market 0 0 0 35 0 0 5 90
Targeting M2: the issue of monetary control 0 0 0 14 0 0 8 117
Tax rates and revenue since the 1970s 0 0 1 5 0 1 5 16
Testing the Expectations Hypothesis: Some New Evidence for Japan 0 0 0 13 0 0 9 88
Testing the expectations hypothesis: some new evidence for Japan 0 0 1 52 0 0 9 206
Tests of covered interest rate parity 0 1 6 351 1 5 30 1,651
Tests of the Expectations Hypothesis: Resolving the Campbell-Shiller Paradox 0 1 2 35 2 8 18 151
Tests of the expectations hypothesis: Resolving the anomalies when the short-term rate is the federal funds rate 0 0 0 30 2 4 14 119
Tests of the market's reaction to federal funds rate target changes 0 2 13 251 0 7 47 959
The Andersen-Jordan equation revisited 0 0 3 15 0 0 6 81
The Empirical Failure of the Expectations Hypothesis of the Term Structure of Bond Yields 0 1 7 48 1 5 26 133
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 0 2 32
The FOMC's balance-of-risks statement and market expectations of policy actions 0 0 2 63 0 0 13 543
The FOMC’s interest rate policy: how long is the long run? 0 0 1 5 0 0 3 9
The FOMC’s “considerable period” 0 0 1 21 2 2 12 103
The Fed and short-term rates: Is it open market operations, open mouth operations or interest rate smoothing? 1 3 7 88 2 5 21 246
The Fed's inflation objective 0 0 1 28 1 2 4 67
The Fed, liquidity, and credit allocation 0 0 0 73 1 3 11 211
The Federal Reserve's operating procedure, nonborrowed reserves, borrowed reserves and the liquidity effect 0 2 10 163 2 11 45 647
The Information Content of the Federal Funds Rate: Is It Unique? 0 0 0 44 0 1 21 413
The Phillips curve and US monetary policy: what the FOMC transcripts tell us 1 3 10 23 5 10 38 110
The U.S. deficit/debt problem: a longer-run perspective 1 4 10 13 1 5 20 29
The borrowed-reserves operating procedures: theory and evidence 0 0 2 63 0 1 7 380
The case for "inflation first" monetary policy 0 0 0 1 0 0 5 15
The codification of an FOMC procedure 0 0 0 8 0 0 1 52
The cost of checkable deposits in the United States 0 0 0 33 0 1 11 531
The costs and benefits of price stability: an assessment of Howitt's rule 0 0 0 40 2 5 11 192
The discount rate and market interest rates: theory and evidence 0 0 1 68 0 0 2 871
The discount rate and market interest rates: what's the connection? 0 0 1 41 0 0 2 134
The discount rate, interest rates and foreign exchange rates: an analysis with daily data 0 0 0 35 3 6 20 231
The downside of quantitative easing 2 2 14 57 3 5 29 107
The dual mandate: has the Fed changed its objective? 0 0 2 3 0 1 7 19
The dynamic relationship between the federal funds rate and the Treasury bill rate: An empirical investigation 0 2 8 251 1 8 33 1,004
The effect of monetary policy on short-term interest rates 2 3 12 83 5 12 51 367
The effect of the Fed’s purchase of long-term treasuries on the yield curve 0 0 3 25 0 1 10 67
The effect of unanticipated money on the money and foreign exchange markets 0 0 1 14 1 1 3 50
The effect of underreporting on LIBOR rates 1 4 12 12 3 12 34 34
The effectiveness of unconventional monetary policy: the term auction facility 0 0 3 18 1 6 22 77
The efficacy of monetary policy: a tale from two decades 0 2 4 6 1 5 9 13
The efficacy of the FOMC’s zero interest rate policy 0 0 2 5 1 2 9 16
The efficient market hypothesis and identification in structural VARs 0 1 2 158 0 2 12 850
The empirical significance of the real balance effect 1 1 3 9 1 1 5 26
The exceptional 1990s 0 0 0 4 0 1 5 39
The expectation hypothesis of the term structure of very short-term rates: Statistical tests and economic value 0 6 35 164 2 16 98 551
The expected federal budget surplus: how much confidence should the public and policymakers place in the projections? 0 0 3 57 0 0 10 410
The federal debt: too little revenue or too much spending 1 1 2 16 2 2 12 41
The federal debt: what’s the source of the increase in spending? 1 1 4 13 3 4 10 28
The federal funds and long-term rates 0 0 0 21 0 0 2 59
The funds rate target and interest rates 0 1 1 4 0 1 2 30
The golden dollar: the early evidence 0 0 0 3 1 1 3 41
The government budget constraint with endogenous money 0 0 3 14 0 0 6 38
The importance of an asymmetric directive 0 0 0 29 0 0 2 111
The link between M1 and the monetary base in the 198O's 0 0 0 49 0 0 1 418
The lower and upper bounds of the Federal Open Market Committee's long-run inflation objective 0 0 1 17 4 6 20 111
The macroeconomic effects of deficit spending: a review 2 2 9 169 4 10 53 1,108
The monetary policy transmission mechanism? 0 1 1 48 0 1 3 90
The monetary-fiscal policy debate and the Andersen-Jordan equation 0 0 1 55 0 0 9 663
The monetary/fiscal policy debate: a controlled experiment 0 1 2 57 0 1 10 262
The multiplier approach to the money supply process: a precautionary note 1 2 22 349 8 18 118 2,074
The relationship between the daily and policy-relevant liquidity effects 1 1 4 8 1 2 12 55
Using federal funds futures rates to predict Federal Reserve actions 0 1 2 380 0 2 15 2,027
Verbal guidance and the efficacy of forward guidance 2 4 12 13 2 8 20 25
Walter Bagehot, the discount window, and TAF 0 0 3 20 0 0 11 42
What accounts for the reduced frequency of Fed actions? 0 0 0 6 0 5 6 87
What caused long-term rates to rise? 0 0 1 6 0 1 5 23
What does the change in the FOMC's statement of objectives mean? 0 0 0 4 0 0 4 23
What the Libor-OIS spread says 3 6 43 312 5 16 96 645
What's Unique About the Federal Funds Rate? Evidence from a Spectral Perspective 0 0 1 27 0 1 9 144
Which comes first: inflation or the FOMC's funds rate target? 0 0 1 4 0 0 3 14
Why Do T-Bill Rates React to Discount Rate Changes? 0 0 1 76 0 1 4 1,094
Why does velocity matter? 0 1 2 22 0 2 6 82
Why is employment growth so low? 1 2 10 27 1 2 26 53
Why is output growth so slow? 0 0 3 3 0 2 6 9
Withering dissents 0 0 0 0 0 0 1 28
Would QE2 have a significant effect on economic growth, employment, or inflation? 0 0 10 72 0 1 23 141
Would quantitative easing sooner have tempered the financial crisis and economic recession? 0 2 15 92 1 5 24 174
Total Journal Articles 36 120 539 8,042 142 438 2,052 34,174


Statistics updated 2014-04-04