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 0 8 491
A dynamic factor analysis of the response of U. S. interest rates to news 0 0 1 137 1 1 7 419
A new federal funds rate target series: September 27, 1982, - December 31, 1993 0 0 1 52 0 0 2 255
A note on the expectations hypothesis at the founding of the Fed 0 0 2 82 0 1 8 299
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 0 0 4 87
An Evaluation of Event-Study Evidence on the Effectiveness of the FOMC’s LSAP Program: Are the Announcement Effects Identified? 2 5 18 18 2 5 18 18
Asymmetry in the prime rate and firms' preference for internal finance 0 0 1 78 0 1 7 726
Complete results for lag length selection 0 0 0 45 0 3 4 112
Discount rate changes and the foreign exchange market 0 1 1 27 0 4 6 168
Discount rate policies of five Federal Reserve Chairmen 0 1 2 171 0 1 7 1,592
Do bank loan rates exhibit a countercyclical mark-up? 1 1 4 105 4 6 15 409
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 0 4 19 62 3 16 78 154
Federal Funds Rate Prediction 0 0 0 13 1 7 15 67
Federal Funds Rate Prediction 0 0 0 196 0 2 8 1,844
Federal Funds Rate Prediction 0 0 1 478 1 8 14 6,348
Federal funds rate prediction 0 0 0 312 1 1 5 1,457
Forecasting the Treasury's balance at the Fed 0 1 3 73 0 3 7 307
Greenspan’s conundrum and the Fed’s ability to affect long-term yields 0 2 7 36 4 13 41 81
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 6 113
How effective is central bank forward guidance? 1 8 35 72 9 32 127 162
Identifying the liquidity effect: the case of nonborrowed reserves 0 0 0 72 0 3 7 473
Lag length selection and Granger causality 0 0 8 303 0 5 32 636
Lag-length selection criteria: empirical results from the St. Louis equation 0 0 1 58 0 0 5 138
Lifting the veil of secrecy from monetary policy: evidence from the Fed's early discount rate policy 0 0 2 43 0 0 7 322
Monetary policy transparency: transparent about what? 0 0 1 236 0 3 15 563
Monetary policy: why money matters and interest rates don't 2 3 10 171 3 7 24 265
Monetary policy: why money matters, and interest rates don’t 1 4 12 76 1 7 28 53
On the treatment of the weighted initial observation in the AR(1) regression model 0 0 0 2 0 0 1 32
Open market operations and the federal funds rate 0 2 8 150 2 8 25 890
Predicting bond excess returns with forward rates: an asset-allocation perspective 0 0 3 39 1 2 13 102
Predictions of short-term rates and the expectations hypothesis 0 1 7 111 2 6 35 208
Predictions of short-term rates and the expectations hypothesis of the term structure of interest rates 0 0 3 153 0 0 9 710
Predictions of short-term rates and the expectations hypothesis of the term structure of interest rates 0 1 8 127 1 5 39 293
Price expectations and the demand for money: a comment 0 0 3 26 0 1 4 66
Resolving the unbiasedness and forward premium puzzles 0 0 1 55 0 0 6 102
Resolving the unbiasedness puzzle in the foreign exchange market 0 2 6 25 0 3 10 69
Revisiting the predictability of bond risk premia 0 1 5 64 0 4 16 113
Should consumer expenditures be the scale variable in empirical money demand equations? 0 0 1 21 1 1 7 156
Testing the expectations hypothesis: some new evidence for Japan 0 0 0 56 0 3 9 205
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 6 427 1 8 53 1,799
Tests of the expectations hypothesis: resolving the anomalies when the short-term rate is the federal funds rate 0 0 1 121 1 1 7 496
The Andersen-Jordan equation, revisited 0 1 1 21 0 1 5 112
The Dynamic Relationship Between the Federal Funds rate and the Treasury Bill Rate: An Empirical Investigation 1 6 38 505 14 46 195 2,876
The Empirical Failure of the Expectations Hypothesis of the Term Structure of Bond Yields 0 0 0 27 0 2 9 87
The Empirical Failure of the Expectations Hypothesis of the Term Structure of Bond Yields 0 1 5 117 0 6 24 354
The Expectation Hypothesis of the Term Structure of Very Short-Term Rates: Statistical Tests and Economic Value 0 0 7 99 0 3 28 379
The Federal Reserve's operating procedure, nonborrowed reserves, borrowed reserves and the liquidity effect 0 2 4 319 0 2 11 2,124
The Federal Reserve’s response to the financial crisis: what it did and what it should have done 3 5 17 130 5 15 51 97
The Phillips Curve and US Monetary Policy: What the FOMC Transcripts Tell Us 0 0 3 4 0 1 11 28
The Phillips curve and US monetary policy: what the FOMC transcripts tell us 0 1 7 64 2 8 35 176
The appropriate autocorrelation transformation when the autocorrelation process has a finite past 0 0 0 28 0 0 2 181
The appropriate interest rate and scale variable in money demand: results from non-nested tests 0 0 0 25 0 0 3 525
The budget constraint, endogenous money and the relative importance of fiscal policy under alternative financing schemes 0 0 0 13 0 0 3 74
The daily and policy-relevant liquidity effects 0 0 1 21 0 0 4 63
The daily and policy-relevant liquidity effects 0 0 1 23 0 0 4 71
The daily liquidity effect 1 1 4 74 3 3 27 413
The dynamic relationship between the federal funds rate and the Treasury bill rate: an empirical investigation 0 2 6 510 2 19 88 2,019
The effect of underreporting on LIBOR rates 0 2 13 20 0 9 41 57
The effectiveness of unconventional monetary policy: the term auction facility 0 1 3 38 1 5 25 85
The efficient market hypothesis and identification in structural VARs 0 0 1 248 0 0 9 848
The empirical failure of the expectations hypothesis of the term structure of bond yields 0 1 10 365 1 6 25 746
The expectation hypothesis of the term structure of very short-term rates: statistical tests and economic value 0 1 7 208 0 2 26 634
The identification of the response of interest rates to monetary policy actions using market-based measures of monetary policy shocks 1 2 4 47 2 4 16 99
The information content of discount rate announcements: what's behind the announcement effect? 0 0 1 82 0 1 6 734
The market's reaction to discount changes: what's behind the announcement effect? 0 0 0 39 0 1 7 370
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 7 75 0 13 91 809
The relationship between the federal funds rate and the Fed's federal funds rate target: is it open market or open mouth operations? 0 2 2 259 0 3 11 1,698
The unusual behavior of the federal funds and 10-year Treasury rates: a conundrum or Goodhart’s Law? 0 2 4 99 1 3 9 395
Unanticipated money and the anticipated liquidity effect: some further evidence 0 0 0 13 0 1 1 103
Weighted monetary aggregates as intermediate targets 0 0 1 10 0 0 4 38
What do Almon's endpoint constraints constrain? 0 0 0 11 0 0 7 83
What's Unique About the Federal Funds Rate? Evidence from a Spectral Perspective 0 0 0 0 0 0 2 2
What's unique about the federal funds rate? evidence from a spectral perspective 0 1 2 113 0 2 8 540
When did the FOMC begin targeting the federal funds rate? what the verbatim transcripts tell us 0 0 3 94 1 5 23 547
Why do T-bill rates react to discount rate changes? 0 1 1 62 0 1 8 866
Why do market interest rates respond to money announcements? 0 0 4 30 0 0 5 206
Total Working Papers 13 69 340 8,361 71 334 1,566 41,381


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 2 4 69
A history of the asymmetric policy directive 0 1 4 77 0 1 6 292
A note on the efficiency of the cochrane-orcutt estimator of the ar(1) regression model 0 0 2 24 0 0 7 66
A note on the expectations hypothesis at the founding of the Fed 0 0 0 18 2 2 5 77
A perspective on possible Fed exit strategies 0 3 8 8 0 4 10 10
A perspective on the current recession: it's not the "worst case" yet 0 0 1 21 0 1 5 63
A primer on cointegration with an application to money and income 1 5 22 927 2 15 60 1,813
A primer on the mortgage market and mortgage finance 1 1 12 184 1 1 26 504
A proposal for improving forward guidance 2 3 15 16 2 4 30 35
Alternative measures of the monetary base: what are the differences and are they important? 0 0 1 20 0 0 5 187
Alternative policy weapons? 0 0 1 2 0 0 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 0 1 2 0 0 2 26
An extended series of divisia monetary aggregates 0 0 0 38 0 0 3 180
Are Virtual “Currencies” Likely to Succeed? 1 3 3 3 1 5 5 5
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 0 2 0 0 1 9
Channels of monetary policy. Proceedings of the Nineteenth Annual Economic Policy Conference held October 20-21, 1994 0 0 1 1 0 0 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 2 32
Core versus headline inflation again 0 0 1 12 0 0 3 22
Core versus headline inflation: an opportunity for greater transparency 0 0 1 4 0 0 2 12
Discount rate changes and the foreign exchange market 0 0 0 19 0 2 17 140
Do government deficits matter? 0 0 0 57 0 0 1 266
Does a mild recession imply a weak recovery? 0 0 0 12 0 1 2 44
Does the Fed's new policy of immediate disclosure affect the market? 0 0 0 119 0 0 1 451
Does the economy need more spending now? 0 0 3 3 0 0 12 12
Federal Funds Rate Prediction 0 0 0 0 0 10 27 768
Financial innovation, deregulation and the "credit view" of monetary policy 0 0 5 197 0 0 12 513
Forecasting the Treasury's balance at the Fed 0 0 0 15 0 2 4 168
Greenspan's unconventional view of the long-run inflation/output trade-off 0 0 0 20 0 1 5 75
Has QE been effective? 0 1 2 2 0 2 9 9
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 2 15 1 1 12 45
How effective is monetary policy? 0 0 1 33 0 0 3 80
How good are the government’s deficit and debt projections and should we care? 0 0 2 18 1 1 10 49
How robust are the policy conclusions of the St. Louis equation?: some further evidence 0 1 1 22 0 1 3 78
Identifying the liquidity effect at the daily frequency 0 0 0 82 1 2 4 250
Inflation objective and policy credibility: a potential problem for the FOMC 0 1 2 2 1 3 6 11
Interest rate targets abandoned 0 0 1 6 0 0 3 31
Is nominal GDP targeting a rule policymakers could accept? 1 1 2 2 1 1 6 6
Is the FOMC’s policy inflating asset prices? 0 0 1 2 0 0 4 12
Is the FOMC’s unemployment rate threshold a good idea? 0 0 0 4 0 1 2 7
Is there a case for "moderate" inflation? 0 0 0 10 0 0 1 216
Is there less agreement about inflation? 0 0 4 24 1 2 13 61
Lag-Length Selection and Tests of Granger Causality between Money and Income 3 6 20 480 8 21 77 1,198
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 3 15 248
M1 or M2: which is the better monetary target? 0 0 1 23 0 1 10 126
Making monetary policy more transparent 0 0 1 13 0 0 3 46
Market anticipations of monetary policy actions 0 0 3 108 2 4 16 278
Maximum Likelihood Estimates of a Partial Adjustment-Adaptive Expectations Model of the Demand for Money 0 0 2 58 0 0 6 180
Measure for measure: headline versus core inflation 0 0 2 17 0 0 4 56
Monetary anticipations and the demand for money: Reply to MacKinnon and Milbourne 0 0 1 16 0 2 6 82
Monetary policy and longer-term rates: an opportunity for greater transparency 0 0 0 6 0 0 1 15
Monetary policy at the zero bound 0 0 0 11 0 0 4 27
Monetary policy transparency: transparent about what? 0 1 2 38 0 3 8 151
Monetizing the debt 0 2 9 53 1 11 41 129
Monetizing the debt 0 0 0 102 0 2 9 563
Money demand dynamics: some new evidence 0 0 0 33 0 0 2 93
Money in a theory of exchange 0 0 1 112 0 0 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 0 0 4 38
Nominal interest rates: less than zero? 0 0 2 101 1 9 25 574
On the informational content of spot and forward exchange rates 0 0 0 14 2 2 4 45
Open market operations and the federal funds rate 0 0 7 86 0 0 20 344
Out-of-Sample Predictions of Bond Excess Returns and Forward Rates: An Asset Allocation Perspective 1 2 5 8 1 5 13 20
Personal saving and economic growth 0 0 2 28 0 0 7 66
Polynomial distributed lags and the estimation of the St. Louis equation 0 0 1 37 1 1 6 108
Predictability and effectiveness of monetary policy 0 0 1 28 0 1 5 64
Price Expectations and the Demand for Money: A Comment 0 0 1 21 0 0 5 93
Public officials and job creation 0 0 0 4 0 1 3 33
QE: is there a portfolio balance effect? 0 0 1 1 1 4 9 9
Quantitative easing and money growth: potential for higher inflation? 0 1 11 33 0 2 23 68
Simple analytics of the money supply process and monetary control 0 1 1 44 1 2 4 179
Social security, saving, and wealth accumulation 0 0 0 10 0 1 3 41
Solving the 1980s' velocity puzzle: a progress report 0 0 1 43 0 1 6 253
Subprime side effects in the federal funds market 0 0 0 35 0 0 2 90
Targeting M2: the issue of monetary control 0 0 0 14 0 0 7 117
Tax rates and revenue since the 1970s 0 0 0 5 0 1 4 17
Testing the Expectations Hypothesis: Some New Evidence for Japan 0 0 0 13 0 1 6 90
Testing the expectations hypothesis: some new evidence for Japan 0 0 1 52 0 0 6 206
Tests of covered interest rate parity 0 0 2 351 1 5 24 1,657
Tests of the Expectations Hypothesis: Resolving the Campbell-Shiller Paradox 0 0 3 36 0 3 22 157
Tests of the expectations hypothesis: Resolving the anomalies when the short-term rate is the federal funds rate 0 0 0 30 0 0 12 121
Tests of the market's reaction to federal funds rate target changes 0 1 9 252 0 2 32 961
The Andersen-Jordan equation revisited 0 1 3 16 0 1 4 82
The Empirical Failure of the Expectations Hypothesis of the Term Structure of Bond Yields 0 0 4 48 1 2 21 138
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 1 32
The FOMC's balance-of-risks statement and market expectations of policy actions 0 0 3 64 0 2 13 547
The FOMC’s interest rate policy: how long is the long run? 0 0 1 5 0 1 2 10
The FOMC’s “considerable period” 0 0 1 21 0 0 10 104
The Fed and short-term rates: Is it open market operations, open mouth operations or interest rate smoothing? 0 1 8 89 0 2 17 249
The Fed's inflation objective 0 0 0 28 0 1 4 68
The Fed, liquidity, and credit allocation 0 0 0 73 1 3 11 215
The Federal Reserve's operating procedure, nonborrowed reserves, borrowed reserves and the liquidity effect 0 0 7 164 3 4 36 656
The Information Content of the Federal Funds Rate: Is It Unique? 0 0 0 44 1 2 9 416
The Phillips curve and US monetary policy: what the FOMC transcripts tell us 1 1 9 24 2 5 34 117
The U.S. deficit/debt problem: a longer-run perspective 0 0 8 13 0 0 17 31
The borrowed-reserves operating procedures: theory and evidence 0 0 0 63 1 1 5 381
The case for "inflation first" monetary policy 0 0 0 1 0 0 1 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 2 10 533
The costs and benefits of price stability: an assessment of Howitt's rule 0 0 0 40 0 1 11 193
The discount rate and market interest rates: theory and evidence 0 0 0 68 0 1 2 872
The discount rate and market interest rates: what's the connection? 0 0 0 41 0 1 2 135
The discount rate, interest rates and foreign exchange rates: an analysis with daily data 0 0 0 35 2 3 14 234
The downside of quantitative easing 0 1 9 58 0 1 19 108
The dual mandate: has the Fed changed its objective? 0 1 2 4 1 3 10 23
The dynamic relationship between the federal funds rate and the Treasury bill rate: An empirical investigation 1 2 7 253 1 5 21 1,010
The effect of monetary policy on short-term interest rates 0 0 6 84 0 5 32 378
The effect of the Fed’s purchase of long-term treasuries on the yield curve 0 0 1 25 2 3 10 71
The effect of unanticipated money on the money and foreign exchange markets 0 1 1 15 0 1 3 51
The effect of underreporting on LIBOR rates 0 2 16 16 3 10 47 48
The effectiveness of unconventional monetary policy: the term auction facility 1 1 2 19 2 3 18 83
The efficacy of monetary policy: a tale from two decades 0 1 5 7 0 1 9 14
The efficacy of the FOMC’s zero interest rate policy 0 1 2 6 0 3 10 19
The efficient market hypothesis and identification in structural VARs 0 0 1 158 1 1 6 851
The empirical significance of the real balance effect 0 0 2 9 0 0 4 26
The exceptional 1990s 0 0 0 4 0 0 2 39
The expectation hypothesis of the term structure of very short-term rates: Statistical tests and economic value 0 0 28 166 1 7 76 564
The expected federal budget surplus: how much confidence should the public and policymakers place in the projections? 0 1 3 58 1 2 6 412
The federal debt: too little revenue or too much spending 0 0 3 17 0 0 10 42
The federal debt: what’s the source of the increase in spending? 0 0 5 14 0 3 13 32
The federal funds and long-term rates 0 0 0 21 0 0 2 59
The funds rate target and interest rates 0 0 1 4 0 2 4 32
The golden dollar: the early evidence 0 0 0 3 0 1 4 42
The government budget constraint with endogenous money 0 1 2 15 0 2 6 40
The importance of an asymmetric directive 0 0 0 29 0 0 1 111
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 1 1 18 113
The macroeconomic effects of deficit spending: a review 1 1 8 170 2 6 43 1,117
The monetary policy transmission mechanism? 0 0 1 48 0 1 4 91
The monetary-fiscal policy debate and the Andersen-Jordan equation 0 0 0 55 0 1 5 664
The monetary/fiscal policy debate: a controlled experiment 0 0 1 57 0 0 6 262
The multiplier approach to the money supply process: a precautionary note 0 4 20 354 2 11 95 2,088
The relationship between the daily and policy-relevant liquidity effects 0 0 2 8 0 1 8 56
Using federal funds futures rates to predict Federal Reserve actions 0 0 1 380 0 0 7 2,027
Verbal guidance and the efficacy of forward guidance 0 0 11 13 0 1 17 26
Walter Bagehot, the discount window, and TAF 0 0 0 20 0 2 4 44
What accounts for the reduced frequency of Fed actions? 0 0 0 6 0 0 7 88
What caused long-term rates to rise? 0 0 1 6 0 0 7 26
What does the change in the FOMC's statement of objectives mean? 0 0 0 4 0 0 2 23
What the Libor-OIS spread says 1 3 28 315 5 14 66 660
What's Unique About the Federal Funds Rate? Evidence from a Spectral Perspective 0 0 1 27 0 1 7 145
Which comes first: inflation or the FOMC's funds rate target? 0 0 1 4 0 1 2 15
Why Do T-Bill Rates React to Discount Rate Changes? 0 1 1 77 0 2 3 1,096
Why does velocity matter? 0 0 1 22 0 0 4 82
Why is employment growth so low? 1 3 9 30 1 4 19 58
Why is output growth so slow? 0 1 3 4 0 1 5 10
Withering dissents 0 1 1 1 0 1 2 29
Would QE2 have a significant effect on economic growth, employment, or inflation? 0 0 2 72 3 3 10 145
Would quantitative easing sooner have tempered the financial crisis and economic recession? 0 0 10 93 0 0 15 175
Total Journal Articles 16 63 432 8,134 71 289 1,693 34,581


Statistics updated 2014-08-03