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 2 188 1 1 7 513
A dynamic factor analysis of the response of U. S. interest rates to news 0 0 0 139 0 0 2 440
A new federal funds rate target series: September 27, 1982, - December 31, 1993 0 2 4 62 1 7 20 313
A note on the expectations hypothesis at the founding of the Fed 0 0 0 82 0 0 1 311
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 4 98
An Evaluation of Event-Study Evidence on the Effectiveness of the FOMC’s LSAP Program: Are the Announcement Effects Identified? 0 1 3 35 0 1 5 79
Asymmetry in the prime rate and firms' preference for internal finance 0 0 1 82 0 0 4 741
Complete results for lag length selection 0 0 0 47 0 0 0 117
Discount rate changes and the foreign exchange market 0 0 0 28 0 0 0 174
Discount rate policies of five Federal Reserve Chairmen 0 0 3 175 0 0 7 1,604
Do bank loan rates exhibit a countercyclical mark-up? 2 2 5 114 2 2 8 433
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 12 125 3 8 54 437
Federal Funds Rate Prediction 0 0 1 20 0 0 8 95
Federal Funds Rate Prediction 0 0 2 202 0 0 12 1,878
Federal Funds Rate Prediction 0 0 1 482 0 0 14 6,387
Federal funds rate prediction 0 0 2 322 1 1 11 1,495
Forecasting the Treasury's balance at the Fed 1 1 1 74 1 1 2 318
Greenspan’s conundrum and the Fed’s ability to affect long-term yields 0 2 8 65 0 5 19 241
How Effective Is Central Bank Forward Guidance? 0 0 3 92 0 0 9 43
How Effective Is Central Bank Forward Guidance? 0 0 1 96 2 3 12 308
How did we get to inflation targeting and where do we go now? a perspective from the U.S. experience 0 1 2 49 0 1 5 146
How effective is central bank forward guidance? 0 1 9 107 0 1 15 276
Identifying the liquidity effect: the case of nonborrowed reserves 0 1 2 76 0 1 2 487
Lag length selection and Granger causality 1 4 6 314 1 4 15 661
Lag-length selection criteria: empirical results from the St. Louis equation 0 0 0 60 0 0 4 148
Lifting the veil of secrecy from monetary policy: evidence from the Fed's early discount rate policy 0 1 1 45 0 1 2 332
Monetary policy transparency: transparent about what? 0 1 2 241 0 1 2 581
Monetary policy: why money matters and interest rates don't 0 2 3 176 0 2 6 309
Monetary policy: why money matters, and interest rates don’t 0 0 2 82 0 3 9 109
On the treatment of the weighted initial observation in the AR(1) regression model 0 0 0 2 0 0 0 36
Open market operations and the federal funds rate 0 0 0 153 0 0 6 911
Predicting bond excess returns with forward rates: an asset-allocation perspective 1 1 3 47 1 2 4 125
Predictions of short-term rates and the expectations hypothesis 0 1 5 123 1 2 8 272
Predictions of short-term rates and the expectations hypothesis of the term structure of interest rates 0 1 1 158 0 3 7 738
Predictions of short-term rates and the expectations hypothesis of the term structure of interest rates 0 0 0 0 0 1 1 1
Price expectations and the demand for money: a comment 0 0 0 28 0 0 2 78
Resolving the unbiasedness and forward premium puzzles 0 0 2 58 0 0 6 114
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 1 3 68 0 1 6 150
Should consumer expenditures be the scale variable in empirical money demand equations? 0 0 0 21 0 0 0 160
Testing the expectations hypothesis: some new evidence for Japan 0 0 0 57 0 0 2 215
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 1 438 0 0 12 1,864
Tests of the expectations hypothesis: resolving the anomalies when the short-term rate is the federal funds rate 0 1 1 125 0 2 3 511
The Andersen-Jordan equation, revisited 0 0 0 22 0 0 0 116
The Dynamic Relationship Between the Federal Funds rate and the Treasury Bill Rate: An Empirical Investigation 0 0 5 555 0 0 21 3,113
The Empirical Failure of the Expectations Hypothesis of the Term Structure of Bond Yields 0 0 1 34 0 1 7 124
The Empirical Failure of the Expectations Hypothesis of the Term Structure of Bond Yields 0 0 0 122 0 1 10 393
The Expectation Hypothesis of the Term Structure of Very Short-Term Rates: Statistical Tests and Economic Value 0 2 3 105 1 4 8 421
The Federal Reserve's operating procedure, nonborrowed reserves, borrowed reserves and the liquidity effect 0 2 3 328 0 5 8 2,154
The Federal Reserve’s response to the financial crisis: what it did and what it should have done 1 2 8 149 1 2 17 169
The Phillips Curve and US Monetary Policy: What the FOMC Transcripts Tell Us 0 0 2 10 0 0 5 58
The Phillips curve and US monetary policy: what the FOMC transcripts tell us 0 0 1 78 2 2 9 218
The appropriate autocorrelation transformation when the autocorrelation process has a finite past 0 0 1 29 0 0 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 0 1 78
The daily and policy-relevant liquidity effects 0 1 2 24 0 1 2 89
The daily and policy-relevant liquidity effects 0 0 0 0 0 1 1 1
The daily liquidity effect 0 1 3 79 0 1 4 429
The dynamic relationship between the federal funds rate and the Treasury bill rate: an empirical investigation 0 1 2 519 0 1 11 2,080
The effect of underreporting on LIBOR rates 0 0 2 30 0 3 12 110
The effectiveness of unconventional monetary policy: the term auction facility 1 1 4 53 1 2 11 132
The efficient market hypothesis and identification in structural VARs 0 1 2 252 0 1 8 865
The empirical failure of the expectations hypothesis of the term structure of bond yields 0 0 2 378 0 0 4 781
The expectation hypothesis of the term structure of very short-term rates: statistical tests and economic value 0 1 3 219 0 2 21 732
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 3 25 194
The information content of discount rate announcements: what's behind the announcement effect? 0 0 1 83 0 0 5 748
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 1 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 84 3 4 26 941
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 3 265 1 3 12 1,729
The unusual behavior of the federal funds and 10-year Treasury rates: a conundrum or Goodhart’s Law? 0 1 2 106 1 3 7 416
Unanticipated money and the anticipated liquidity effect: some further evidence 0 1 1 16 0 1 1 109
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 1 95
What's Unique About the Federal Funds Rate? Evidence from a Spectral Perspective 0 0 0 0 0 0 4 15
What's unique about the federal funds rate? evidence from a spectral perspective 0 0 0 114 0 0 4 562
When did the FOMC begin targeting the federal funds rate? what the verbatim transcripts tell us 0 1 3 104 0 1 12 592
Why do T-bill rates react to discount rate changes? 0 0 2 66 1 1 4 884
Why do market interest rates respond to money announcements? 0 0 0 34 0 0 2 219
Total Working Papers 10 45 153 8,947 25 97 585 44,183
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 1 1 23 0 1 2 74
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 0 0 3 30 0 0 5 80
A note on the expectations hypothesis at the founding of the Fed 0 0 0 19 0 0 1 94
A perspective on possible Fed exit strategies 0 1 1 19 0 1 3 34
A perspective on the current recession: it's not the "worst case" yet 0 0 1 23 0 0 1 79
A primer on cointegration with an application to money and income 0 4 19 965 0 8 35 1,916
A primer on the mortgage market and mortgage finance 0 0 6 196 1 2 17 549
A proposal for improving forward guidance 0 0 2 23 0 0 4 53
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 1 187
Are Virtual “Currencies” Likely to Succeed? 2 2 2 13 2 2 4 35
Are weighted monetary aggregates better than simple-sum M1? 0 0 2 25 0 0 6 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 0 151
Channels of monetary policy. Proceedings of the Nineteenth Annual Economic Policy Conference held October 20-21, 1994 0 0 0 1 0 0 0 40
Channels of monetary policy: conference introduction 0 0 0 0 0 0 0 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 0 30
Core versus headline inflation: an opportunity for greater transparency 0 0 0 4 0 0 1 19
Discount rate changes and the foreign exchange market 0 0 1 20 0 0 5 201
Do government deficits matter? 0 0 0 57 0 0 2 270
Does a mild recession imply a weak recovery? 0 0 0 13 0 1 1 52
Does the Fed's new policy of immediate disclosure affect the market? 0 0 1 120 0 0 2 459
Does the economy need more spending now? 0 0 0 3 0 0 0 20
Effectiveness of QE: An assessment of event-study evidence 3 8 10 10 4 11 13 13
Federal Funds Rate Prediction 0 0 0 0 1 2 14 794
Financial innovation, deregulation and the "credit view" of monetary policy 0 0 0 200 0 1 2 525
Forecasting the Treasury's balance at the Fed 0 0 0 17 0 0 1 174
Greenspan's unconventional view of the long-run inflation/output trade-off 0 0 0 20 0 0 3 83
Guest editor's introduction: What monetary policy can and cannot do 0 1 3 5 2 5 11 21
Has QE been effective? 0 2 4 22 0 3 11 64
Housing and the "R" word 0 0 0 15 0 0 0 41
How Effective Is Central Bank Forward Guidance? 0 1 8 24 2 5 30 68
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 3 61
How effective is monetary policy? 0 0 1 35 0 0 2 99
How good are the government’s deficit and debt projections and should we care? 0 0 0 24 0 1 4 70
How robust are the policy conclusions of the St. Louis equation?: some further evidence 0 0 1 24 0 0 1 94
Identifying the liquidity effect at the daily frequency 0 0 1 87 0 0 3 265
Inflation objective and policy credibility: a potential problem for the FOMC 0 0 0 2 0 0 1 16
Interest rate targets abandoned 0 0 0 6 0 0 1 35
Is nominal GDP targeting a rule policymakers could accept? 0 0 0 6 0 0 0 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 0 5 0 0 0 10
Is there a case for "moderate" inflation? 0 0 0 11 0 1 1 220
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 0 1 6 522 0 4 25 1,330
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 3 258
M1 or M2: which is the better monetary target? 0 1 1 24 0 1 1 133
Making monetary policy more transparent 0 0 0 14 0 0 0 50
Making sense of dissents: a history of FOMC dissents 0 0 4 10 0 0 8 31
Market anticipations of monetary policy actions 0 0 1 112 0 2 10 304
Maximum Likelihood Estimates of a Partial Adjustment-Adaptive Expectations Model of the Demand for Money 1 1 1 60 1 1 3 190
Measure for measure: headline versus core inflation 0 0 1 21 0 0 2 69
Monetary anticipations and the demand for money: Reply to MacKinnon and Milbourne 0 0 1 18 0 0 2 95
Monetary policy and longer-term rates: an opportunity for greater transparency 0 0 0 6 0 0 2 22
Monetary policy at the zero bound 0 0 0 12 0 1 2 36
Monetary policy transparency: transparent about what? 0 0 0 40 0 1 1 163
Monetary policy: Why money matters (and interest rates don’t) 2 2 9 43 3 6 26 121
Monetizing the debt 0 0 5 75 0 1 12 199
Monetizing the debt 0 0 1 108 1 1 7 584
Money demand dynamics: some new evidence 0 0 0 34 0 0 3 101
Money in a theory of exchange 0 0 1 114 0 0 5 381
Money, net wealth, and the real-balance effect 0 0 0 5 0 0 0 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 8 591
On the informational content of spot and forward exchange rates 0 0 0 17 0 0 1 56
Open market operations and the federal funds rate 1 2 3 92 2 4 12 378
Out-of-Sample Predictions of Bond Excess Returns and Forward Rates: An Asset Allocation Perspective 0 0 4 20 1 1 9 58
Personal saving and economic growth 0 1 6 43 0 2 11 92
Polynomial distributed lags and the estimation of the St. Louis equation 0 0 0 39 0 0 1 127
Predictability and effectiveness of monetary policy 0 0 0 28 0 0 0 69
Price Expectations and the Demand for Money: A Comment 0 1 1 22 0 1 4 104
Public officials and job creation 0 0 1 7 0 0 1 46
QE: is there a portfolio balance effect? 0 2 9 21 2 5 34 90
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 0 49 0 0 1 191
Social security, saving, and wealth accumulation 0 0 0 14 0 0 0 48
Solving the 1980s' velocity puzzle: a progress report 0 0 0 48 1 1 2 271
Subprime side effects in the federal funds market 0 0 0 36 0 0 1 93
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 0 2 6 105
Testing the expectations hypothesis: some new evidence for Japan 0 0 0 52 0 0 3 212
Tests of covered interest rate parity 1 2 8 381 3 4 23 1,752
Tests of the Expectations Hypothesis: Resolving the Campbell-Shiller Paradox 0 0 0 45 1 3 7 187
Tests of the expectations hypothesis: Resolving the anomalies when the short-term rate is the federal funds rate 0 0 1 35 0 2 4 144
Tests of the market's reaction to federal funds rate target changes 0 0 2 275 0 2 23 1,057
The Andersen-Jordan equation revisited 0 0 0 17 0 1 1 94
The Empirical Failure of the Expectations Hypothesis of the Term Structure of Bond Yields 0 0 3 63 2 6 30 209
The FOMC in 1981: monetary control in a changing financial environment 0 0 0 4 0 0 3 39
The FOMC in 1982: de-emphasizing M1 0 0 0 4 0 0 4 40
The FOMC's balance-of-risks statement and market expectations of policy actions 0 0 1 67 0 0 4 583
The FOMC’s interest rate policy: how long is the long run? 0 0 0 5 0 0 2 15
The FOMC’s “considerable period” 0 0 0 21 0 2 2 120
The Fed and short-term rates: Is it open market operations, open mouth operations or interest rate smoothing? 0 0 0 94 0 0 3 270
The Fed's inflation objective 2 3 3 32 2 3 3 77
The Fed, liquidity, and credit allocation 0 0 0 74 0 1 2 250
The Federal Reserve's operating procedure, nonborrowed reserves, borrowed reserves and the liquidity effect 0 0 0 171 0 2 9 695
The Information Content of the Federal Funds Rate: Is It Unique? 0 0 1 45 0 0 3 429
The Phillips curve and US monetary policy: what the FOMC transcripts tell us 0 0 1 31 1 3 20 182
The U.S. deficit/debt problem: a longer-run perspective 0 0 0 19 0 0 5 49
The borrowed-reserves operating procedures: theory and evidence 0 0 1 66 0 0 4 391
The case for "inflation first" monetary policy 0 0 0 2 0 0 0 23
The codification of an FOMC procedure 0 0 0 8 0 0 2 56
The cost of checkable deposits in the United States 0 0 0 33 0 0 4 539
The costs and benefits of price stability: an assessment of Howitt's rule 0 1 2 47 1 5 12 220
The discount rate and market interest rates: theory and evidence 0 0 0 68 0 0 1 875
The discount rate and market interest rates: what's the connection? 0 0 1 45 0 0 3 146
The discount rate, interest rates and foreign exchange rates: an analysis with daily data 0 0 1 38 0 0 3 250
The downside of quantitative easing 0 1 3 71 1 3 7 144
The dual mandate: has the Fed changed its objective? 0 1 3 8 1 3 8 40
The dynamic relationship between the federal funds rate and the Treasury bill rate: An empirical investigation 0 0 0 261 0 0 9 1,045
The effect of monetary policy on short-term interest rates 0 0 1 92 0 0 4 409
The effect of the Fed’s purchase of long-term treasuries on the yield curve 0 0 0 27 0 0 4 85
The effect of unanticipated money on the money and foreign exchange markets 0 0 0 16 0 1 1 65
The effect of underreporting on LIBOR rates 0 0 3 32 1 3 12 106
The effectiveness of unconventional monetary policy: the term auction facility 0 0 0 25 1 1 4 113
The efficacy of monetary policy: a tale from two decades 0 0 1 10 0 0 1 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 0 2 162 0 1 7 872
The empirical significance of the real balance effect 0 0 0 10 0 0 2 34
The exceptional 1990s 0 0 1 7 0 0 1 46
The expectation hypothesis of the term structure of very short-term rates: Statistical tests and economic value 0 1 2 178 0 2 6 624
The expected federal budget surplus: how much confidence should the public and policymakers place in the projections? 0 0 0 61 0 1 2 428
The federal debt: too little revenue or too much spending 1 1 1 22 1 1 2 57
The federal debt: what’s the source of the increase in spending? 0 0 0 15 0 0 1 42
The federal funds and long-term rates 0 0 0 24 0 0 0 69
The funds rate target and interest rates 0 0 1 5 0 0 5 46
The golden dollar: the early evidence 0 0 0 3 0 0 1 45
The government budget constraint with endogenous money 0 0 1 17 0 1 2 47
The identification of the response of interest rates to monetary policy actions using market-based measures of monetary policy shocks 0 0 2 20 0 3 8 62
The importance of an asymmetric directive 0 0 1 30 0 0 5 124
The link between M1 and the monetary base in the 198O's 0 0 0 49 0 0 1 422
The lower and upper bounds of the Federal Open Market Committee's long-run inflation objective 0 0 0 17 0 0 6 155
The macroeconomic effects of deficit spending: a review 0 0 3 183 0 1 16 1,182
The monetary policy transmission mechanism? 0 3 3 58 0 3 3 112
The monetary-fiscal policy debate and the Andersen-Jordan equation 0 0 1 58 0 2 8 686
The monetary/fiscal policy debate: a controlled experiment 0 0 2 60 0 0 5 272
The multiplier approach to the money supply process: a precautionary note 0 0 2 373 0 2 17 2,221
The relationship between the daily and policy-relevant liquidity effects 0 0 0 9 0 0 2 64
Understanding the Predictability of Excess Returns 0 0 0 0 4 5 27 27
Using federal funds futures rates to predict Federal Reserve actions 0 1 3 387 0 1 7 2,060
Verbal guidance and the efficacy of forward guidance 0 0 0 16 1 1 2 41
Walter Bagehot, the discount window, and TAF 0 0 0 21 0 0 2 53
What accounts for the reduced frequency of Fed actions? 0 0 0 6 0 0 2 94
What caused long-term rates to rise? 0 0 0 7 0 0 0 32
What does the change in the FOMC's statement of objectives mean? 0 0 1 5 0 0 1 27
What the Libor-OIS spread says 5 13 16 369 9 26 37 816
What's Unique About the Federal Funds Rate? Evidence from a Spectral Perspective 0 0 0 29 0 0 4 161
Which comes first: inflation or the FOMC's funds rate target? 0 0 0 4 0 0 0 22
Why Do T-Bill Rates React to Discount Rate Changes? 0 0 0 77 0 0 4 1,134
Why does velocity matter? 0 0 0 29 2 3 12 132
Why is employment growth so low? 0 0 7 58 0 0 9 107
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 3 168
Would quantitative easing sooner have tempered the financial crisis and economic recession? 0 0 0 95 0 0 1 185
Total Journal Articles 18 58 213 9,002 54 176 846 38,381


Statistics updated 2017-10-05