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 1 2 6 503
A dynamic factor analysis of the response of U. S. interest rates to news 0 1 2 139 0 4 9 432
A new federal funds rate target series: September 27, 1982, - December 31, 1993 1 2 3 55 3 8 29 285
A note on the expectations hypothesis at the founding of the Fed 0 0 0 82 0 2 7 307
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 1 2 3 94
An Evaluation of Event-Study Evidence on the Effectiveness of the FOMC’s LSAP Program: Are the Announcement Effects Identified? 1 2 6 31 1 3 15 72
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 2 47 0 0 4 116
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? 1 2 3 109 2 4 7 422
Endpoint constraints and the St. Louis equation: a clarification 0 0 0 28 1 1 2 79
Evidence on the portfolio balance channel of quantitative easing 5 9 28 105 22 49 111 345
Federal Funds Rate Prediction 1 1 3 199 3 4 12 1,860
Federal Funds Rate Prediction 0 1 3 17 0 3 9 81
Federal Funds Rate Prediction 0 1 2 481 0 1 5 6,368
Federal funds rate prediction 0 1 3 319 3 6 12 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 11 57 2 3 57 214
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 8 96 0 4 41 255
Identifying the liquidity effect: the case of nonborrowed reserves 0 0 0 73 1 1 1 482
Lag length selection and Granger causality 0 0 1 306 0 0 2 642
Lag-length selection criteria: empirical results from the St. Louis equation 0 1 2 60 1 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 1 3 327
Monetary policy transparency: transparent about what? 0 0 1 239 1 1 4 577
Monetary policy: why money matters and interest rates don't 0 0 1 173 2 3 8 301
Monetary policy: why money matters, and interest rates don’t 0 0 0 80 0 0 9 98
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 1 2 4 904
Predicting bond excess returns with forward rates: an asset-allocation perspective 0 1 4 43 1 2 8 119
Predictions of short-term rates and the expectations hypothesis 0 0 1 116 1 2 11 257
Predictions of short-term rates and the expectations hypothesis of the term structure of interest rates 0 0 5 134 0 1 17 330
Predictions of short-term rates and the expectations hypothesis of the term structure of interest rates 0 0 1 155 0 0 11 727
Price expectations and the demand for money: a comment 0 0 1 28 1 3 7 74
Resolving the unbiasedness and forward premium puzzles 0 0 0 55 0 0 3 107
Resolving the unbiasedness puzzle in the foreign exchange market 1 1 2 29 1 1 7 82
Revisiting the predictability of bond risk premia 0 0 1 65 0 0 5 141
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 1 1 1 25
Tests of the expectations hypothesis: resolving the Campbell-Shiller paradox 1 1 3 435 1 2 11 1,846
Tests of the expectations hypothesis: resolving the anomalies when the short-term rate is the federal funds rate 0 0 3 124 1 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 2 5 24 549 4 13 93 3,076
The Empirical Failure of the Expectations Hypothesis of the Term Structure of Bond Yields 0 1 2 33 0 4 10 114
The Empirical Failure of the Expectations Hypothesis of the Term Structure of Bond Yields 0 0 2 121 1 3 12 376
The Expectation Hypothesis of the Term Structure of Very Short-Term Rates: Statistical Tests and Economic Value 0 0 0 102 3 5 17 405
The Federal Reserve's operating procedure, nonborrowed reserves, borrowed reserves and the liquidity effect 0 0 1 323 1 4 7 2,138
The Federal Reserve’s response to the financial crisis: what it did and what it should have done 0 1 4 140 4 10 21 143
The Phillips Curve and US Monetary Policy: What the FOMC Transcripts Tell Us 0 0 1 7 1 4 9 44
The Phillips curve and US monetary policy: what the FOMC transcripts tell us 0 1 4 75 0 6 9 200
The appropriate autocorrelation transformation when the autocorrelation process has a finite past 0 0 0 28 1 1 3 184
The appropriate interest rate and scale variable in money demand: results from non-nested tests 0 0 0 25 1 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 1 2 87
The daily and policy-relevant liquidity effects 0 0 0 23 0 0 2 76
The daily liquidity effect 0 0 0 76 1 1 3 423
The dynamic relationship between the federal funds rate and the Treasury bill rate: an empirical investigation 0 0 3 514 3 8 19 2,059
The effect of underreporting on LIBOR rates 1 2 4 28 3 5 16 92
The effectiveness of unconventional monetary policy: the term auction facility 0 0 7 47 1 4 16 115
The efficient market hypothesis and identification in structural VARs 0 0 1 250 0 1 3 855
The empirical failure of the expectations hypothesis of the term structure of bond yields 2 4 8 376 2 6 14 775
The expectation hypothesis of the term structure of very short-term rates: statistical tests and economic value 0 2 4 216 6 21 42 693
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 37 145
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 1 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 1 1 261 1 3 4 1,715
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 3 9 45 894
The unusual behavior of the federal funds and 10-year Treasury rates: a conundrum or Goodhart’s Law? 0 1 4 104 0 1 6 408
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 8 93
What's Unique About the Federal Funds Rate? Evidence from a Spectral Perspective 0 0 0 0 1 2 4 7
What's unique about the federal funds rate? evidence from a spectral perspective 0 0 0 114 2 4 7 552
When did the FOMC begin targeting the federal funds rate? what the verbatim transcripts tell us 0 0 3 101 2 4 15 575
Why do T-bill rates react to discount rate changes? 0 0 2 64 0 0 7 879
Why do market interest rates respond to money announcements? 0 0 1 32 0 1 4 213
Total Working Papers 16 43 188 8,719 101 262 920 43,323


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 1 1 70
A history of the asymmetric policy directive 0 1 3 81 2 3 7 300
A note on the efficiency of the cochrane-orcutt estimator of the ar(1) regression model 0 0 2 27 0 0 4 72
A note on the expectations hypothesis at the founding of the Fed 0 0 0 18 3 3 6 88
A perspective on possible Fed exit strategies 0 0 1 17 0 1 8 28
A perspective on the current recession: it's not the "worst case" yet 0 0 0 22 0 0 0 76
A primer on cointegration with an application to money and income 0 0 5 944 1 4 14 1,865
A primer on the mortgage market and mortgage finance 1 2 2 188 3 6 11 522
A proposal for improving forward guidance 0 0 2 21 0 1 7 46
Alternative measures of the monetary base: what are the differences and are they important? 0 0 0 20 1 1 1 189
Alternative policy weapons? 0 0 0 2 1 1 2 33
An early look at the volatility of money and interest rates under CRR 0 0 0 8 1 1 2 47
An experiment is underway 0 0 0 2 1 2 3 29
An extended series of divisia monetary aggregates 0 0 0 38 1 2 4 185
Are Virtual “Currencies” Likely to Succeed? 0 0 0 10 2 2 5 28
Are weighted monetary aggregates better than simple-sum M1? 0 0 1 22 0 0 2 75
Can the FOMC increase the funds rate without reducing reserves? 0 0 1 3 1 1 5 17
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 1 2 34
Core versus headline inflation again 0 0 2 15 0 0 5 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 7 12 20 175
Do government deficits matter? 0 0 0 57 0 0 0 266
Does a mild recession imply a weak recovery? 0 0 1 13 0 0 4 50
Does the Fed's new policy of immediate disclosure affect the market? 0 0 0 119 2 2 3 456
Does the economy need more spending now? 0 0 0 3 0 1 3 16
Federal Funds Rate Prediction 0 0 0 0 2 2 6 778
Financial innovation, deregulation and the "credit view" of monetary policy 0 1 3 200 2 3 7 520
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 0 1 1 77
Has QE been effective? 0 1 6 16 1 3 21 47
Housing and the "R" word 0 0 1 15 0 1 3 41
How Effective Is Central Bank Forward Guidance? 1 6 7 7 3 11 16 16
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 16 2 3 5 55
How effective is monetary policy? 1 1 1 34 2 6 12 94
How good are the government’s deficit and debt projections and should we care? 0 0 0 23 1 1 4 62
How robust are the policy conclusions of the St. Louis equation?: some further evidence 0 0 0 23 1 2 8 89
Identifying the liquidity effect at the daily frequency 0 1 2 86 2 4 6 259
Inflation objective and policy credibility: a potential problem for the FOMC 0 0 0 2 0 0 3 14
Interest rate targets abandoned 0 0 0 6 1 1 3 34
Is nominal GDP targeting a rule policymakers could accept? 0 0 1 5 1 1 7 17
Is the FOMC’s policy inflating asset prices? 0 0 1 4 0 0 3 18
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 1 2 3 219
Is there less agreement about inflation? 0 0 1 25 0 1 5 68
Lag-Length Selection and Tests of Granger Causality between Money and Income 0 2 13 513 3 7 39 1,298
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 2 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 0 0 1 3 1 2 9 14
Market anticipations of monetary policy actions 1 1 1 111 1 1 4 289
Maximum Likelihood Estimates of a Partial Adjustment-Adaptive Expectations Model of the Demand for Money 0 1 1 59 0 1 2 185
Measure for measure: headline versus core inflation 1 2 2 20 2 4 5 66
Monetary anticipations and the demand for money: Reply to MacKinnon and Milbourne 0 1 1 17 1 2 8 90
Monetary policy and longer-term rates: an opportunity for greater transparency 0 0 0 6 0 0 2 19
Monetary policy at the zero bound 0 0 1 12 0 0 6 34
Monetary policy transparency: transparent about what? 0 0 1 40 0 0 7 161
Monetizing the debt 2 3 10 70 4 8 31 179
Monetizing the debt 1 1 4 107 2 2 8 574
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 6 373
Money, net wealth, and the real-balance effect 0 0 0 5 2 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 1 1 5 582
On the informational content of spot and forward exchange rates 0 0 2 17 1 1 5 52
Open market operations and the federal funds rate 0 0 0 88 4 5 12 364
Out-of-Sample Predictions of Bond Excess Returns and Forward Rates: An Asset Allocation Perspective 2 2 4 15 2 3 9 43
Personal saving and economic growth 3 3 5 36 3 4 7 78
Polynomial distributed lags and the estimation of the St. Louis equation 0 0 1 39 2 3 7 120
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 0 0 1 5 1 1 7 40
QE: is there a portfolio balance effect? 0 1 5 10 1 4 25 48
Quantitative easing and money growth: potential for higher inflation? 0 0 1 43 0 0 5 87
Simple analytics of the money supply process and monetary control 1 1 2 48 2 2 5 188
Social security, saving, and wealth accumulation 0 0 3 13 0 0 4 46
Solving the 1980s' velocity puzzle: a progress report 0 0 4 48 0 0 11 266
Subprime side effects in the federal funds market 0 0 0 36 0 1 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 1 1 3 21
Testing the Expectations Hypothesis: Some New Evidence for Japan 0 0 0 13 0 2 7 97
Testing the expectations hypothesis: some new evidence for Japan 0 0 0 52 1 1 2 209
Tests of covered interest rate parity 4 6 12 368 7 11 35 1,708
Tests of the Expectations Hypothesis: Resolving the Campbell-Shiller Paradox 0 0 4 42 0 1 9 175
Tests of the expectations hypothesis: Resolving the anomalies when the short-term rate is the federal funds rate 0 0 2 33 0 4 14 138
Tests of the market's reaction to federal funds rate target changes 2 7 15 272 8 26 58 1,028
The Andersen-Jordan equation revisited 0 0 0 17 1 2 5 90
The Empirical Failure of the Expectations Hypothesis of the Term Structure of Bond Yields 0 2 5 59 2 5 14 172
The FOMC in 1981: monetary control in a changing financial environment 0 0 0 4 1 2 3 35
The FOMC in 1982: de-emphasizing M1 1 1 1 4 1 1 4 36
The FOMC's balance-of-risks statement and market expectations of policy actions 0 0 1 65 2 4 20 574
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 0 1 5 115
The Fed and short-term rates: Is it open market operations, open mouth operations or interest rate smoothing? 0 1 2 91 3 5 8 260
The Fed's inflation objective 0 0 0 29 1 2 5 74
The Fed, liquidity, and credit allocation 0 0 1 74 1 2 10 247
The Federal Reserve's operating procedure, nonborrowed reserves, borrowed reserves and the liquidity effect 1 1 2 169 2 8 18 681
The Information Content of the Federal Funds Rate: Is It Unique? 0 0 0 44 1 2 4 422
The Phillips curve and US monetary policy: what the FOMC transcripts tell us 0 0 2 29 1 3 9 145
The U.S. deficit/debt problem: a longer-run perspective 1 1 1 19 2 2 3 43
The borrowed-reserves operating procedures: theory and evidence 0 0 1 65 1 3 4 387
The case for "inflation first" monetary policy 0 0 1 2 1 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 1 2 5 45 2 3 10 206
The discount rate and market interest rates: theory and evidence 0 0 0 68 1 2 2 874
The discount rate and market interest rates: what's the connection? 0 0 0 43 1 1 2 139
The discount rate, interest rates and foreign exchange rates: an analysis with daily data 1 1 1 36 1 4 6 244
The downside of quantitative easing 0 1 3 63 3 8 17 130
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 2 260 1 3 6 1,028
The effect of monetary policy on short-term interest rates 0 0 4 91 1 3 15 402
The effect of the Fed’s purchase of long-term treasuries on the yield curve 0 0 2 27 1 2 8 81
The effect of unanticipated money on the money and foreign exchange markets 0 0 0 16 4 4 7 59
The effect of underreporting on LIBOR rates 1 1 4 26 4 7 18 86
The effectiveness of unconventional monetary policy: the term auction facility 0 0 3 25 2 2 14 107
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 3 3 9 0 3 4 26
The efficient market hypothesis and identification in structural VARs 0 0 2 160 1 2 7 862
The empirical significance of the real balance effect 0 1 1 10 0 2 5 31
The exceptional 1990s 0 0 2 6 1 1 3 43
The expectation hypothesis of the term structure of very short-term rates: Statistical tests and economic value 0 0 4 176 1 2 14 614
The expected federal budget surplus: how much confidence should the public and policymakers place in the projections? 0 2 2 60 3 7 10 423
The federal debt: too little revenue or too much spending 1 1 1 21 1 1 6 53
The federal debt: what’s the source of the increase in spending? 0 0 1 15 1 2 5 40
The federal funds and long-term rates 0 0 0 23 1 2 5 67
The funds rate target and interest rates 0 0 0 4 0 0 3 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 2 2 5 118
The link between M1 and the monetary base in the 198O's 0 0 0 49 0 2 2 420
The lower and upper bounds of the Federal Open Market Committee's long-run inflation objective 0 0 0 17 1 3 24 148
The macroeconomic effects of deficit spending: a review 0 2 6 179 2 7 22 1,159
The monetary policy transmission mechanism? 0 0 3 55 0 2 7 107
The monetary-fiscal policy debate and the Andersen-Jordan equation 0 0 0 56 0 0 7 673
The monetary/fiscal policy debate: a controlled experiment 0 0 0 57 0 0 0 264
The multiplier approach to the money supply process: a precautionary note 1 1 7 369 3 7 54 2,190
The relationship between the daily and policy-relevant liquidity effects 0 0 1 9 0 0 3 59
Using federal funds futures rates to predict Federal Reserve actions 0 0 2 383 4 6 18 2,049
Verbal guidance and the efficacy of forward guidance 0 0 0 16 1 1 6 37
Walter Bagehot, the discount window, and TAF 0 0 0 21 0 1 5 50
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 1 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 4 6 25 348 8 15 71 766
What's Unique About the Federal Funds Rate? Evidence from a Spectral Perspective 0 0 0 28 0 1 4 151
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 3 3 20 1,129
Why does velocity matter? 1 3 4 28 4 6 26 114
Why is employment growth so low? 0 4 10 49 2 7 20 93
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? 0 1 5 79 1 4 15 163
Would quantitative easing sooner have tempered the financial crisis and economic recession? 0 0 1 95 1 1 3 182
Total Journal Articles 33 80 266 8,634 181 370 1,246 36,679


Statistics updated 2016-05-03