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 1 185 1 3 6 497
A dynamic factor analysis of the response of U. S. interest rates to news 0 0 0 137 0 0 5 423
A new federal funds rate target series: September 27, 1982, - December 31, 1993 0 0 0 52 0 0 1 256
A note on the expectations hypothesis at the founding of the Fed 0 0 0 82 0 0 2 300
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 2 4 91
An Evaluation of Event-Study Evidence on the Effectiveness of the FOMC’s LSAP Program: Are the Announcement Effects Identified? 0 1 12 25 0 5 44 57
Asymmetry in the prime rate and firms' preference for internal finance 1 2 2 80 3 4 8 733
Complete results for lag length selection 0 0 0 45 0 0 3 112
Discount rate changes and the foreign exchange market 0 0 2 28 0 0 6 170
Discount rate policies of five Federal Reserve Chairmen 0 0 1 171 0 0 2 1,593
Do bank loan rates exhibit a countercyclical mark-up? 0 0 2 106 0 1 12 415
Endpoint constraints and the St. Louis equation: a clarification 0 0 0 28 0 0 0 77
Evidence on the portfolio balance channel of quantitative easing 2 8 19 77 7 33 96 234
Federal Funds Rate Prediction 0 0 0 196 0 2 6 1,848
Federal Funds Rate Prediction 0 1 1 14 0 2 12 72
Federal Funds Rate Prediction 0 0 1 479 0 1 23 6,363
Federal funds rate prediction 0 1 4 316 0 2 14 1,470
Forecasting the Treasury's balance at the Fed 0 0 1 73 1 1 7 311
Greenspan’s conundrum and the Fed’s ability to affect long-term yields 3 5 12 46 9 26 89 157
How did we get to inflation targeting and where do we go now? a perspective from the U.S. experience 0 0 0 45 1 1 23 135
How effective is central bank forward guidance? 2 4 24 88 5 12 84 214
Identifying the liquidity effect: the case of nonborrowed reserves 0 0 1 73 0 0 11 481
Lag length selection and Granger causality 0 0 2 305 0 0 9 640
Lag-length selection criteria: empirical results from the St. Louis equation 0 0 0 58 0 0 0 138
Lifting the veil of secrecy from monetary policy: evidence from the Fed's early discount rate policy 0 0 1 44 0 0 2 324
Monetary policy transparency: transparent about what? 0 1 2 238 1 3 13 573
Monetary policy: why money matters and interest rates don't 0 0 4 172 0 2 35 293
Monetary policy: why money matters, and interest rates don’t 0 0 8 80 2 5 43 89
On the treatment of the weighted initial observation in the AR(1) regression model 0 0 0 2 0 1 1 33
Open market operations and the federal funds rate 1 2 5 153 1 2 18 900
Predicting bond excess returns with forward rates: an asset-allocation perspective 0 0 0 39 2 3 11 111
Predictions of short-term rates and the expectations hypothesis 0 1 5 115 2 6 44 246
Predictions of short-term rates and the expectations hypothesis of the term structure of interest rates 0 0 1 154 0 2 6 716
Predictions of short-term rates and the expectations hypothesis of the term structure of interest rates 1 1 3 129 2 4 25 313
Price expectations and the demand for money: a comment 0 0 1 27 0 0 2 67
Resolving the unbiasedness and forward premium puzzles 0 0 0 55 0 1 2 104
Resolving the unbiasedness puzzle in the foreign exchange market 0 0 4 27 0 0 9 75
Revisiting the predictability of bond risk premia 0 0 1 64 0 1 27 136
Should consumer expenditures be the scale variable in empirical money demand equations? 0 0 0 21 0 0 2 157
Testing the expectations hypothesis: some new evidence for Japan 0 0 1 57 0 0 6 208
Tests of price sluggishness in the U.K 0 0 0 2 0 0 1 24
Tests of the expectations hypothesis: resolving the Campbell-Shiller paradox 0 1 5 432 1 8 44 1,835
Tests of the expectations hypothesis: resolving the anomalies when the short-term rate is the federal funds rate 0 0 0 121 2 3 4 499
The Andersen-Jordan equation, revisited 0 0 2 22 0 0 3 114
The Dynamic Relationship Between the Federal Funds rate and the Treasury Bill Rate: An Empirical Investigation 3 8 26 525 9 29 153 2,983
The Empirical Failure of the Expectations Hypothesis of the Term Structure of Bond Yields 1 1 4 31 1 6 19 104
The Empirical Failure of the Expectations Hypothesis of the Term Structure of Bond Yields 0 0 3 119 0 3 16 364
The Expectation Hypothesis of the Term Structure of Very Short-Term Rates: Statistical Tests and Economic Value 1 2 3 102 2 5 12 388
The Federal Reserve's operating procedure, nonborrowed reserves, borrowed reserves and the liquidity effect 0 0 5 322 0 1 9 2,131
The Federal Reserve’s response to the financial crisis: what it did and what it should have done 1 4 11 136 2 9 40 122
The Phillips Curve and US Monetary Policy: What the FOMC Transcripts Tell Us 0 0 2 6 1 2 8 35
The Phillips curve and US monetary policy: what the FOMC transcripts tell us 0 2 8 71 0 4 23 191
The appropriate autocorrelation transformation when the autocorrelation process has a finite past 0 0 0 28 0 0 0 181
The appropriate interest rate and scale variable in money demand: results from non-nested tests 0 0 0 25 0 0 0 525
The budget constraint, endogenous money and the relative importance of fiscal policy under alternative financing schemes 0 0 0 13 0 0 0 74
The daily and policy-relevant liquidity effects 0 0 0 23 0 0 3 74
The daily and policy-relevant liquidity effects 0 0 1 22 0 0 22 85
The daily liquidity effect 0 0 3 76 0 0 10 420
The dynamic relationship between the federal funds rate and the Treasury bill rate: an empirical investigation 0 1 3 511 3 9 40 2,040
The effect of underreporting on LIBOR rates 0 1 6 24 0 7 28 76
The effectiveness of unconventional monetary policy: the term auction facility 0 1 3 40 2 5 19 99
The efficient market hypothesis and identification in structural VARs 0 0 1 249 1 2 4 852
The empirical failure of the expectations hypothesis of the term structure of bond yields 0 0 4 368 4 5 21 761
The expectation hypothesis of the term structure of very short-term rates: statistical tests and economic value 0 2 5 212 2 8 19 651
The identification of the response of interest rates to monetary policy actions using market-based measures of monetary policy shocks 1 1 4 49 2 3 13 108
The information content of discount rate announcements: what's behind the announcement effect? 0 0 0 82 0 0 5 738
The market's reaction to discount changes: what's behind the announcement effect? 0 0 0 39 0 1 6 375
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 3 78 9 16 53 849
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 3 260 2 5 16 1,711
The unusual behavior of the federal funds and 10-year Treasury rates: a conundrum or Goodhart’s Law? 0 0 3 100 2 2 10 402
Unanticipated money and the anticipated liquidity effect: some further evidence 0 0 1 14 0 0 2 104
Weighted monetary aggregates as intermediate targets 0 0 1 11 1 1 2 40
What do Almon's endpoint constraints constrain? 0 0 0 11 2 2 2 85
What's Unique About the Federal Funds Rate? Evidence from a Spectral Perspective 0 0 0 0 0 0 1 3
What's unique about the federal funds rate? evidence from a spectral perspective 0 0 2 114 0 0 7 545
When did the FOMC begin targeting the federal funds rate? what the verbatim transcripts tell us 0 1 4 98 0 2 18 560
Why do T-bill rates react to discount rate changes? 0 0 1 62 1 1 7 872
Why do market interest rates respond to money announcements? 0 0 1 31 0 0 3 209
Total Working Papers 17 52 239 8,531 86 264 1,356 42,403


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 69
A history of the asymmetric policy directive 0 0 2 78 0 0 2 293
A note on the efficiency of the cochrane-orcutt estimator of the ar(1) regression model 0 1 1 25 0 1 2 68
A note on the expectations hypothesis at the founding of the Fed 0 0 0 18 0 0 7 82
A perspective on possible Fed exit strategies 1 3 11 16 2 4 14 20
A perspective on the current recession: it's not the "worst case" yet 0 1 1 22 0 1 14 76
A primer on cointegration with an application to money and income 2 4 17 939 4 11 53 1,851
A primer on the mortgage market and mortgage finance 0 0 3 186 0 2 8 511
A proposal for improving forward guidance 0 2 6 19 1 3 8 39
Alternative measures of the monetary base: what are the differences and are they important? 0 0 0 20 1 1 1 188
Alternative policy weapons? 0 0 0 2 0 1 1 31
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 0 2 0 0 0 26
An extended series of divisia monetary aggregates 0 0 0 38 0 0 1 181
Are Virtual “Currencies” Likely to Succeed? 0 1 10 10 1 4 23 23
Are weighted monetary aggregates better than simple-sum M1? 0 0 0 21 0 0 1 73
Can the FOMC increase the funds rate without reducing reserves? 0 0 0 2 0 0 3 12
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 0 1
Comments on "Modeling money demand in large industrial countries: Buffer stock and error correction approaches" 0 0 0 5 0 0 0 32
Core versus headline inflation again 0 0 1 13 0 1 2 24
Core versus headline inflation: an opportunity for greater transparency 0 0 0 4 1 1 1 13
Discount rate changes and the foreign exchange market 0 0 0 19 1 3 17 155
Do government deficits matter? 0 0 0 57 0 0 0 266
Does a mild recession imply a weak recovery? 0 0 0 12 0 0 3 46
Does the Fed's new policy of immediate disclosure affect the market? 0 0 0 119 0 0 2 453
Does the economy need more spending now? 0 0 0 3 1 1 1 13
Federal Funds Rate Prediction 0 0 0 0 0 0 14 772
Financial innovation, deregulation and the "credit view" of monetary policy 0 0 0 197 0 0 0 513
Forecasting the Treasury's balance at the Fed 0 0 0 15 0 0 4 170
Greenspan's unconventional view of the long-run inflation/output trade-off 0 0 0 20 0 0 2 76
Has QE been effective? 1 4 9 10 3 9 19 26
Housing and the "R" word 0 0 0 14 0 0 0 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 1 16 0 2 6 50
How effective is monetary policy? 0 0 0 33 0 1 2 82
How good are the government’s deficit and debt projections and should we care? 1 4 5 23 1 5 10 58
How robust are the policy conclusions of the St. Louis equation?: some further evidence 0 0 2 23 0 0 4 81
Identifying the liquidity effect at the daily frequency 1 1 2 84 1 1 5 253
Inflation objective and policy credibility: a potential problem for the FOMC 0 0 1 2 0 0 3 11
Interest rate targets abandoned 0 0 0 6 0 0 0 31
Is nominal GDP targeting a rule policymakers could accept? 0 0 3 4 0 1 5 10
Is the FOMC’s policy inflating asset prices? 0 0 1 3 1 1 3 15
Is the FOMC’s unemployment rate threshold a good idea? 0 0 0 4 0 0 1 7
Is there a case for "moderate" inflation? 0 0 0 10 0 0 0 216
Is there less agreement about inflation? 0 0 0 24 0 0 4 63
Lag-Length Selection and Tests of Granger Causality between Money and Income 0 4 26 500 3 12 82 1,259
Lagged and contemporaneous reserve accounting: an alternative view 0 0 1 9 0 0 3 80
Lifting the Veil of Secrecy from Monetary Policy: Evidence from the Fed's Early Discount Rate Policy 0 0 0 0 0 1 6 251
M1 or M2: which is the better monetary target? 0 0 0 23 0 0 2 127
Making monetary policy more transparent 0 1 1 14 0 1 1 47
Making sense of dissents: a history of FOMC dissents 0 0 2 2 0 1 5 5
Market anticipations of monetary policy actions 0 0 2 110 0 0 11 285
Maximum Likelihood Estimates of a Partial Adjustment-Adaptive Expectations Model of the Demand for Money 0 0 0 58 1 2 3 183
Measure for measure: headline versus core inflation 0 1 1 18 0 1 5 61
Monetary anticipations and the demand for money: Reply to MacKinnon and Milbourne 0 0 0 16 0 0 2 82
Monetary policy and longer-term rates: an opportunity for greater transparency 0 0 0 6 0 0 2 17
Monetary policy at the zero bound 0 0 0 11 1 1 1 28
Monetary policy transparency: transparent about what? 0 0 2 39 1 1 6 154
Monetizing the debt 0 0 1 103 0 0 5 566
Monetizing the debt 2 2 9 60 3 6 30 148
Money demand dynamics: some new evidence 0 1 1 34 0 2 2 95
Money in a theory of exchange 0 0 0 112 0 1 3 367
Money, net wealth, and the real-balance effect 0 0 0 5 0 0 1 54
Negating the inflation potential of the Fed's lending programs 0 0 0 10 0 1 2 40
Nominal interest rates: less than zero? 1 3 3 104 1 3 12 577
On the informational content of spot and forward exchange rates 0 0 1 15 0 0 4 47
Open market operations and the federal funds rate 0 0 2 88 0 1 8 352
Out-of-Sample Predictions of Bond Excess Returns and Forward Rates: An Asset Allocation Perspective 0 1 5 11 1 6 19 34
Personal saving and economic growth 0 1 3 31 1 2 5 71
Polynomial distributed lags and the estimation of the St. Louis equation 0 0 1 38 0 0 6 113
Predictability and effectiveness of monetary policy 0 0 0 28 0 0 2 65
Price Expectations and the Demand for Money: A Comment 0 0 0 21 0 0 1 94
Public officials and job creation 0 0 0 4 0 0 1 33
QE: is there a portfolio balance effect? 0 2 4 5 3 8 18 23
Quantitative easing and money growth: potential for higher inflation? 0 4 10 42 1 6 16 82
Simple analytics of the money supply process and monetary control 0 0 3 46 2 2 6 183
Social security, saving, and wealth accumulation 0 0 0 10 0 0 2 42
Solving the 1980s' velocity puzzle: a progress report 0 0 1 44 0 1 3 255
Subprime side effects in the federal funds market 0 0 1 36 0 0 1 91
Targeting M2: the issue of monetary control 0 0 0 14 0 0 0 117
Tax rates and revenue since the 1970s 0 0 0 5 1 1 2 18
Testing the Expectations Hypothesis: Some New Evidence for Japan 0 0 0 13 0 0 1 90
Testing the expectations hypothesis: some new evidence for Japan 0 0 0 52 0 1 1 207
Tests of covered interest rate parity 0 0 5 356 1 2 21 1,673
Tests of the Expectations Hypothesis: Resolving the Campbell-Shiller Paradox 1 1 2 38 3 4 12 166
Tests of the expectations hypothesis: Resolving the anomalies when the short-term rate is the federal funds rate 1 1 1 31 1 1 3 124
Tests of the market's reaction to federal funds rate target changes 0 0 6 257 1 2 11 970
The Andersen-Jordan equation revisited 0 0 2 17 0 0 4 85
The Empirical Failure of the Expectations Hypothesis of the Term Structure of Bond Yields 0 0 6 54 1 3 22 158
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 0 32
The FOMC's balance-of-risks statement and market expectations of policy actions 0 0 0 64 3 3 9 554
The FOMC’s interest rate policy: how long is the long run? 0 0 0 5 0 0 1 10
The FOMC’s “considerable period” 0 0 0 21 1 1 6 110
The Fed and short-term rates: Is it open market operations, open mouth operations or interest rate smoothing? 0 0 1 89 1 1 5 252
The Fed's inflation objective 1 1 1 29 1 1 2 69
The Fed, liquidity, and credit allocation 0 0 0 73 0 2 25 237
The Federal Reserve's operating procedure, nonborrowed reserves, borrowed reserves and the liquidity effect 1 1 3 167 1 1 11 663
The Information Content of the Federal Funds Rate: Is It Unique? 0 0 0 44 0 0 4 418
The Phillips curve and US monetary policy: what the FOMC transcripts tell us 0 0 4 27 1 2 24 136
The U.S. deficit/debt problem: a longer-run perspective 0 5 5 18 1 6 9 40
The borrowed-reserves operating procedures: theory and evidence 0 0 1 64 0 0 3 383
The case for "inflation first" monetary policy 0 0 0 1 0 0 2 17
The codification of an FOMC procedure 0 0 0 8 0 0 0 52
The cost of checkable deposits in the United States 0 0 0 33 0 0 2 533
The costs and benefits of price stability: an assessment of Howitt's rule 0 0 0 40 0 0 4 196
The discount rate and market interest rates: theory and evidence 0 0 0 68 0 0 1 872
The discount rate and market interest rates: what's the connection? 0 0 2 43 0 0 3 137
The discount rate, interest rates and foreign exchange rates: an analysis with daily data 0 0 0 35 0 1 7 238
The downside of quantitative easing 1 2 3 60 2 3 6 113
The dual mandate: has the Fed changed its objective? 0 0 1 4 0 0 6 26
The dynamic relationship between the federal funds rate and the Treasury bill rate: An empirical investigation 0 1 7 258 1 4 17 1,022
The effect of monetary policy on short-term interest rates 1 1 3 87 1 1 14 387
The effect of the Fed’s purchase of long-term treasuries on the yield curve 0 0 0 25 0 0 5 73
The effect of unanticipated money on the money and foreign exchange markets 0 0 2 16 0 0 2 52
The effect of underreporting on LIBOR rates 0 2 8 22 1 6 30 68
The effectiveness of unconventional monetary policy: the term auction facility 0 2 4 22 1 5 13 93
The efficacy of monetary policy: a tale from two decades 0 1 2 8 1 3 5 18
The efficacy of the FOMC’s zero interest rate policy 0 0 1 6 0 1 6 22
The efficient market hypothesis and identification in structural VARs 0 0 0 158 1 1 5 855
The empirical significance of the real balance effect 0 0 0 9 0 0 0 26
The exceptional 1990s 0 0 0 4 1 1 1 40
The expectation hypothesis of the term structure of very short-term rates: Statistical tests and economic value 1 1 6 172 3 8 43 600
The expected federal budget surplus: how much confidence should the public and policymakers place in the projections? 0 0 1 58 0 0 3 413
The federal debt: too little revenue or too much spending 0 2 3 20 1 3 5 47
The federal debt: what’s the source of the increase in spending? 0 0 0 14 2 2 6 35
The federal funds and long-term rates 0 0 2 23 0 0 3 62
The funds rate target and interest rates 0 0 0 4 0 0 8 38
The golden dollar: the early evidence 0 0 0 3 1 1 2 43
The government budget constraint with endogenous money 0 0 1 15 0 0 3 41
The importance of an asymmetric directive 0 0 0 29 0 0 2 113
The link between M1 and the monetary base in the 198O's 0 0 0 49 0 0 0 418
The lower and upper bounds of the Federal Open Market Committee's long-run inflation objective 0 0 0 17 0 5 12 124
The macroeconomic effects of deficit spending: a review 0 0 4 173 1 6 26 1,137
The monetary policy transmission mechanism? 2 2 4 52 2 2 10 100
The monetary-fiscal policy debate and the Andersen-Jordan equation 0 0 1 56 0 0 3 666
The monetary/fiscal policy debate: a controlled experiment 0 0 0 57 0 1 2 264
The multiplier approach to the money supply process: a precautionary note 0 3 12 362 8 14 59 2,136
The relationship between the daily and policy-relevant liquidity effects 0 0 0 8 0 0 1 56
Using federal funds futures rates to predict Federal Reserve actions 0 0 1 381 0 0 4 2,031
Verbal guidance and the efficacy of forward guidance 0 2 3 16 0 3 6 31
Walter Bagehot, the discount window, and TAF 0 0 1 21 0 0 3 45
What accounts for the reduced frequency of Fed actions? 0 0 0 6 0 0 1 89
What caused long-term rates to rise? 0 0 0 6 0 0 0 26
What does the change in the FOMC's statement of objectives mean? 0 0 0 4 0 0 0 23
What the Libor-OIS spread says 3 3 11 323 8 9 49 695
What's Unique About the Federal Funds Rate? Evidence from a Spectral Perspective 0 0 1 28 0 0 3 147
Which comes first: inflation or the FOMC's funds rate target? 0 0 0 4 1 1 3 17
Why Do T-Bill Rates React to Discount Rate Changes? 0 0 1 77 1 1 15 1,109
Why does velocity matter? 0 2 2 24 1 4 6 88
Why is employment growth so low? 0 2 12 39 0 5 19 73
Why is output growth so slow? 0 0 1 4 1 1 2 11
Withering dissents 0 0 1 1 0 0 3 31
Would QE2 have a significant effect on economic growth, employment, or inflation? 0 0 2 74 0 0 6 148
Would quantitative easing sooner have tempered the financial crisis and economic recession? 0 1 1 94 0 2 4 179
Total Journal Articles 21 77 297 8,368 92 238 1,141 35,433


Statistics updated 2015-05-02