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 1 1 186 0 2 6 503
A dynamic factor analysis of the response of U. S. interest rates to news 0 1 2 139 2 3 11 434
A new federal funds rate target series: September 27, 1982, - December 31, 1993 0 2 3 55 0 7 28 285
A note on the expectations hypothesis at the founding of the Fed 0 0 0 82 1 1 8 308
A note on the relative efficiency of the Cochrane-Orcutt and OLS estimators when the autocorrelation process has a finite past 0 0 1 16 0 1 3 94
An Evaluation of Event-Study Evidence on the Effectiveness of the FOMC’s LSAP Program: Are the Announcement Effects Identified? 0 1 6 31 1 3 15 73
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 0 0 3 116
Discount rate changes and the foreign exchange market 0 0 0 28 0 0 1 171
Discount rate policies of five Federal Reserve Chairmen 0 0 0 171 0 1 3 1,596
Do bank loan rates exhibit a countercyclical mark-up? 0 2 3 109 0 3 6 422
Endpoint constraints and the St. Louis equation: a clarification 0 0 0 28 0 1 2 79
Evidence on the portfolio balance channel of quantitative easing 2 11 30 107 10 48 116 355
Federal Funds Rate Prediction 0 1 2 481 0 1 5 6,368
Federal Funds Rate Prediction 1 2 3 200 2 5 13 1,862
Federal Funds Rate Prediction 0 1 3 17 0 2 6 81
Federal funds rate prediction 0 1 2 319 0 5 11 1,482
Forecasting the Treasury's balance at the Fed 0 0 0 73 0 0 2 313
Greenspan’s conundrum and the Fed’s ability to affect long-term yields 0 0 10 57 2 5 51 216
How did we get to inflation targeting and where do we go now? a perspective from the U.S. experience 0 0 2 47 0 0 4 139
How effective is central bank forward guidance? 0 0 7 96 0 2 38 255
Identifying the liquidity effect: the case of nonborrowed reserves 0 0 0 73 0 1 1 482
Lag length selection and Granger causality 1 1 1 307 1 1 2 643
Lag-length selection criteria: empirical results from the St. Louis equation 0 1 2 60 0 2 4 142
Lifting the veil of secrecy from monetary policy: evidence from the Fed's early discount rate policy 0 0 0 44 1 2 4 328
Monetary policy transparency: transparent about what? 0 0 1 239 0 1 4 577
Monetary policy: why money matters and interest rates don't 0 0 1 173 1 4 9 302
Monetary policy: why money matters, and interest rates don’t 0 0 0 80 1 1 10 99
On the treatment of the weighted initial observation in the AR(1) regression model 0 0 0 2 0 0 1 34
Open market operations and the federal funds rate 0 0 0 153 0 2 4 904
Predicting bond excess returns with forward rates: an asset-allocation perspective 1 1 5 44 2 3 10 121
Predictions of short-term rates and the expectations hypothesis 1 1 2 117 1 3 11 258
Predictions of short-term rates and the expectations hypothesis of the term structure of interest rates 1 1 2 156 1 1 12 728
Predictions of short-term rates and the expectations hypothesis of the term structure of interest rates 0 0 4 134 0 1 15 330
Price expectations and the demand for money: a comment 0 0 1 28 0 1 7 74
Resolving the unbiasedness and forward premium puzzles 0 0 0 55 0 0 1 107
Resolving the unbiasedness puzzle in the foreign exchange market 0 1 1 29 0 1 5 82
Revisiting the predictability of bond risk premia 0 0 0 65 1 1 5 142
Should consumer expenditures be the scale variable in empirical money demand equations? 0 0 0 21 0 0 2 159
Testing the expectations hypothesis: some new evidence for Japan 0 0 0 57 0 0 2 210
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 0 1 1 435 1 3 8 1,847
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 1 115
The Dynamic Relationship Between the Federal Funds rate and the Treasury Bill Rate: An Empirical Investigation 1 4 20 550 5 13 80 3,081
The Empirical Failure of the Expectations Hypothesis of the Term Structure of Bond Yields 0 1 2 33 1 4 9 115
The Empirical Failure of the Expectations Hypothesis of the Term Structure of Bond Yields 0 0 2 121 3 5 14 379
The Expectation Hypothesis of the Term Structure of Very Short-Term Rates: Statistical Tests and Economic Value 0 0 0 102 0 4 17 405
The Federal Reserve's operating procedure, nonborrowed reserves, borrowed reserves and the liquidity effect 1 1 1 324 3 6 9 2,141
The Federal Reserve’s response to the financial crisis: what it did and what it should have done 1 1 5 141 5 14 25 148
The Phillips Curve and US Monetary Policy: What the FOMC Transcripts Tell Us 0 0 1 7 2 5 11 46
The Phillips curve and US monetary policy: what the FOMC transcripts tell us 1 2 5 76 2 6 11 202
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 2 527
The budget constraint, endogenous money and the relative importance of fiscal policy under alternative financing schemes 0 0 0 13 0 0 1 75
The daily and policy-relevant liquidity effects 0 0 0 22 0 0 2 87
The daily and policy-relevant liquidity effects 1 1 1 24 2 2 3 78
The daily liquidity effect 0 0 0 76 1 2 4 424
The dynamic relationship between the federal funds rate and the Treasury bill rate: an empirical investigation 1 1 4 515 4 7 23 2,063
The effect of underreporting on LIBOR rates 0 2 4 28 2 6 18 94
The effectiveness of unconventional monetary policy: the term auction facility 1 1 8 48 2 5 18 117
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 3 6 376 0 4 12 775
The expectation hypothesis of the term structure of very short-term rates: statistical tests and economic value 0 1 4 216 2 14 43 695
The identification of the response of interest rates to monetary policy actions using market-based measures of monetary policy shocks 0 0 3 52 6 17 43 151
The information content of discount rate announcements: what's behind the announcement effect? 0 0 0 82 0 2 3 741
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 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 2 80 4 11 42 898
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 2 262 2 5 6 1,717
The unusual behavior of the federal funds and 10-year Treasury rates: a conundrum or Goodhart’s Law? 0 1 3 104 0 1 5 408
Unanticipated money and the anticipated liquidity effect: some further evidence 0 0 1 15 0 0 1 105
Weighted monetary aggregates as intermediate targets 0 0 0 11 0 0 3 43
What do Almon's endpoint constraints constrain? 0 0 1 12 0 0 4 93
What's Unique About the Federal Funds Rate? Evidence from a Spectral Perspective 0 0 0 0 0 1 4 7
What's unique about the federal funds rate? evidence from a spectral perspective 0 0 0 114 0 3 7 552
When did the FOMC begin targeting the federal funds rate? what the verbatim transcripts tell us 0 0 3 101 1 4 15 576
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 1 32 0 1 4 213
Total Working Papers 15 51 182 8,734 75 265 914 43,398


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 1 70
A history of the asymmetric policy directive 1 2 4 82 2 5 9 302
A note on the efficiency of the cochrane-orcutt estimator of the ar(1) regression model 0 0 2 27 1 1 5 73
A note on the expectations hypothesis at the founding of the Fed 0 0 0 18 1 4 7 89
A perspective on possible Fed exit strategies 0 0 0 17 1 2 7 29
A perspective on the current recession: it's not the "worst case" yet 0 0 0 22 1 1 1 77
A primer on cointegration with an application to money and income 0 0 3 944 4 8 16 1,869
A primer on the mortgage market and mortgage finance 1 3 3 189 2 7 13 524
A proposal for improving forward guidance 0 0 2 21 3 3 9 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 2 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 2 3 29
An extended series of divisia monetary aggregates 0 0 0 38 0 2 4 185
Are Virtual “Currencies” Likely to Succeed? 0 0 0 10 0 2 5 28
Are weighted monetary aggregates better than simple-sum M1? 0 0 1 22 1 1 3 76
Can the FOMC increase the funds rate without reducing reserves? 0 0 1 3 2 3 7 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 0 0 3 4
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 0 0 4 29
Core versus headline inflation: an opportunity for greater transparency 0 0 0 4 0 0 4 17
Discount rate changes and the foreign exchange market 0 0 0 19 4 13 24 179
Do government deficits matter? 0 0 0 57 2 2 2 268
Does a mild recession imply a weak recovery? 0 0 1 13 0 0 3 50
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 3 3 6 19
Federal Funds Rate Prediction 0 0 0 0 1 3 7 779
Financial innovation, deregulation and the "credit view" of monetary policy 0 1 3 200 1 4 8 521
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 2 2 3 79
Has QE been effective? 0 0 6 16 0 1 19 47
Housing and the "R" word 0 0 1 15 0 0 3 41
How Effective Is Central Bank Forward Guidance? 0 5 7 7 2 10 18 18
How did we get to inflation targeting and where do we need to go to now? a perspective from the U.S. experience 1 1 1 17 1 4 6 56
How effective is monetary policy? 0 1 1 34 2 7 13 96
How good are the government’s deficit and debt projections and should we care? 1 1 1 24 1 2 5 63
How robust are the policy conclusions of the St. Louis equation?: some further evidence 0 0 0 23 2 4 9 91
Identifying the liquidity effect at the daily frequency 0 1 2 86 1 5 7 260
Inflation objective and policy credibility: a potential problem for the FOMC 0 0 0 2 0 0 2 14
Interest rate targets abandoned 0 0 0 6 0 1 3 34
Is nominal GDP targeting a rule policymakers could accept? 0 0 1 5 0 1 6 17
Is the FOMC’s policy inflating asset prices? 0 0 1 4 1 1 4 19
Is the FOMC’s unemployment rate threshold a good idea? 0 0 0 4 0 0 2 9
Is there a case for "moderate" inflation? 0 1 1 11 0 2 3 219
Is there less agreement about inflation? 0 0 1 25 1 1 6 69
Lag-Length Selection and Tests of Granger Causality between Money and Income 1 3 12 514 2 9 36 1,300
Lagged and contemporaneous reserve accounting: an alternative view 0 0 0 9 0 1 2 82
Lifting the Veil of Secrecy from Monetary Policy: Evidence from the Fed's Early Discount Rate Policy 0 0 0 0 0 1 2 253
M1 or M2: which is the better monetary target? 0 0 0 23 0 2 4 131
Making monetary policy more transparent 0 0 0 14 0 0 2 49
Making sense of dissents: a history of FOMC dissents 1 1 2 4 1 3 10 15
Market anticipations of monetary policy actions 0 1 1 111 1 2 4 290
Maximum Likelihood Estimates of a Partial Adjustment-Adaptive Expectations Model of the Demand for Money 0 1 1 59 1 2 3 186
Measure for measure: headline versus core inflation 0 2 2 20 0 3 5 66
Monetary anticipations and the demand for money: Reply to MacKinnon and Milbourne 0 0 1 17 1 2 9 91
Monetary policy and longer-term rates: an opportunity for greater transparency 0 0 0 6 0 0 1 19
Monetary policy at the zero bound 0 0 0 12 0 0 4 34
Monetary policy transparency: transparent about what? 0 0 1 40 1 1 8 162
Monetizing the debt 0 3 8 70 2 9 30 181
Monetizing the debt 0 1 4 107 2 4 8 576
Money demand dynamics: some new evidence 0 0 0 34 0 0 1 96
Money in a theory of exchange 0 0 1 113 1 3 7 374
Money, net wealth, and the real-balance effect 0 0 0 5 0 2 3 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 1 105 0 1 4 582
On the informational content of spot and forward exchange rates 0 0 1 17 0 1 4 52
Open market operations and the federal funds rate 1 1 1 89 1 6 13 365
Out-of-Sample Predictions of Bond Excess Returns and Forward Rates: An Asset Allocation Perspective 0 2 3 15 0 3 8 43
Personal saving and economic growth 0 3 4 36 2 6 8 80
Polynomial distributed lags and the estimation of the St. Louis equation 0 0 1 39 1 4 8 121
Predictability and effectiveness of monetary policy 0 0 0 28 0 0 1 66
Price Expectations and the Demand for Money: A Comment 0 0 0 21 0 0 4 98
Public officials and job creation 1 1 2 6 1 2 5 41
QE: is there a portfolio balance effect? 0 0 3 10 0 2 20 48
Quantitative easing and money growth: potential for higher inflation? 0 0 1 43 0 0 3 87
Simple analytics of the money supply process and monetary control 0 1 2 48 0 2 5 188
Social security, saving, and wealth accumulation 0 0 1 13 1 1 3 47
Solving the 1980s' velocity puzzle: a progress report 0 0 4 48 1 1 12 267
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 2 4 121
Tax rates and revenue since the 1970s 0 0 0 5 0 1 3 21
Testing the Expectations Hypothesis: Some New Evidence for Japan 0 0 0 13 0 1 7 97
Testing the expectations hypothesis: some new evidence for Japan 0 0 0 52 0 1 2 209
Tests of covered interest rate parity 3 9 13 371 11 22 40 1,719
Tests of the Expectations Hypothesis: Resolving the Campbell-Shiller Paradox 1 1 3 43 1 1 8 176
Tests of the expectations hypothesis: Resolving the anomalies when the short-term rate is the federal funds rate 0 0 2 33 0 2 14 138
Tests of the market's reaction to federal funds rate target changes 1 8 16 273 3 26 59 1,031
The Andersen-Jordan equation revisited 0 0 0 17 0 1 5 90
The Empirical Failure of the Expectations Hypothesis of the Term Structure of Bond Yields 0 1 4 59 1 5 12 173
The FOMC in 1981: monetary control in a changing financial environment 0 0 0 4 0 2 3 35
The FOMC in 1982: de-emphasizing M1 0 1 1 4 0 1 4 36
The FOMC's balance-of-risks statement and market expectations of policy actions 0 0 1 65 1 5 18 575
The FOMC’s interest rate policy: how long is the long run? 0 0 0 5 0 0 2 12
The FOMC’s “considerable period” 0 0 0 21 1 1 6 116
The Fed and short-term rates: Is it open market operations, open mouth operations or interest rate smoothing? 1 1 2 92 2 5 9 262
The Fed's inflation objective 0 0 0 29 0 1 5 74
The Fed, liquidity, and credit allocation 0 0 1 74 0 2 9 247
The Federal Reserve's operating procedure, nonborrowed reserves, borrowed reserves and the liquidity effect 1 2 3 170 2 8 17 683
The Information Content of the Federal Funds Rate: Is It Unique? 0 0 0 44 2 3 6 424
The Phillips curve and US monetary policy: what the FOMC transcripts tell us 0 0 2 29 1 3 10 146
The U.S. deficit/debt problem: a longer-run perspective 0 1 1 19 0 2 3 43
The borrowed-reserves operating procedures: theory and evidence 0 0 1 65 0 2 4 387
The case for "inflation first" monetary policy 0 0 1 2 0 1 5 22
The codification of an FOMC procedure 0 0 0 8 0 0 1 53
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 2 5 45 0 3 9 206
The discount rate and market interest rates: theory and evidence 0 0 0 68 0 2 2 874
The discount rate and market interest rates: what's the connection? 0 0 0 43 1 2 3 140
The discount rate, interest rates and foreign exchange rates: an analysis with daily data 0 1 1 36 2 5 7 246
The downside of quantitative easing 2 3 4 65 2 8 16 132
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 0 0 1 260 4 6 8 1,032
The effect of monetary policy on short-term interest rates 0 0 4 91 1 3 14 403
The effect of the Fed’s purchase of long-term treasuries on the yield curve 0 0 2 27 0 2 7 81
The effect of unanticipated money on the money and foreign exchange markets 0 0 0 16 1 5 8 60
The effect of underreporting on LIBOR rates 1 2 4 27 4 9 19 90
The effectiveness of unconventional monetary policy: the term auction facility 0 0 3 25 1 3 15 108
The efficacy of monetary policy: a tale from two decades 0 0 1 9 0 0 3 21
The efficacy of the FOMC’s zero interest rate policy 0 1 3 9 1 2 5 27
The efficient market hypothesis and identification in structural VARs 0 0 2 160 1 2 8 863
The empirical significance of the real balance effect 0 1 1 10 1 3 6 32
The exceptional 1990s 0 0 2 6 0 1 3 43
The expectation hypothesis of the term structure of very short-term rates: Statistical tests and economic value 0 0 2 176 0 1 12 614
The expected federal budget surplus: how much confidence should the public and policymakers place in the projections? 1 2 3 61 2 7 12 425
The federal debt: too little revenue or too much spending 0 1 1 21 1 2 6 54
The federal debt: what’s the source of the increase in spending? 0 0 0 15 0 2 4 40
The federal funds and long-term rates 1 1 1 24 1 2 6 68
The funds rate target and interest rates 0 0 0 4 0 0 2 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 1 3 6 119
The link between M1 and the monetary base in the 198O's 0 0 0 49 0 1 2 420
The lower and upper bounds of the Federal Open Market Committee's long-run inflation objective 0 0 0 17 0 3 23 148
The macroeconomic effects of deficit spending: a review 1 3 7 180 4 10 25 1,163
The monetary policy transmission mechanism? 0 0 2 55 1 1 7 108
The monetary-fiscal policy debate and the Andersen-Jordan equation 1 1 1 57 4 4 11 677
The monetary/fiscal policy debate: a controlled experiment 1 1 1 58 2 2 2 266
The multiplier approach to the money supply process: a precautionary note 0 1 6 369 2 6 52 2,192
The relationship between the daily and policy-relevant liquidity effects 0 0 0 9 0 0 1 59
Using federal funds futures rates to predict Federal Reserve actions 0 0 1 383 0 4 17 2,049
Verbal guidance and the efficacy of forward guidance 0 0 0 16 1 2 7 38
Walter Bagehot, the discount window, and TAF 0 0 0 21 1 2 6 51
What accounts for the reduced frequency of Fed actions? 0 0 0 6 0 0 1 90
What caused long-term rates to rise? 0 0 1 7 0 1 4 30
What does the change in the FOMC's statement of objectives mean? 0 0 0 4 0 0 3 26
What the Libor-OIS spread says 2 6 23 350 8 20 69 774
What's Unique About the Federal Funds Rate? Evidence from a Spectral Perspective 1 1 1 29 1 2 5 152
Which comes first: inflation or the FOMC's funds rate target? 0 0 0 4 0 0 3 20
Why Do T-Bill Rates React to Discount Rate Changes? 0 0 0 77 1 4 21 1,130
Why does velocity matter? 0 3 4 28 0 6 26 114
Why is employment growth so low? 2 5 9 51 2 8 18 95
Why is output growth so slow? 0 0 0 4 0 1 4 15
Withering dissents 0 0 0 1 0 0 0 31
Would QE2 have a significant effect on economic growth, employment, or inflation? 1 2 6 80 2 6 16 165
Would quantitative easing sooner have tempered the financial crisis and economic recession? 0 0 0 95 0 1 2 182
Total Journal Articles 29 97 256 8,663 139 440 1,277 36,818


Statistics updated 2016-06-03