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 1 183 2 7 13 482
A dynamic factor analysis of the response of U. S. interest rates to news 0 0 1 136 0 3 11 411
A new federal funds rate target series: September 27, 1982, - December 31, 1993 0 1 1 51 1 2 5 252
A note on the expectations hypothesis at the founding of the Fed 0 1 1 79 3 7 11 290
A note on the relative efficiency of the Cochrane-Orcutt and OLS estimators when the autocorrelation process has a finite past 0 2 2 15 0 2 4 81
Asymmetry in the prime rate and firms' preference for internal finance 0 0 2 75 6 8 14 715
Complete results for lag length selection 1 1 2 44 1 4 8 106
Discount rate changes and the foreign exchange market 0 0 0 26 4 5 9 161
Discount rate policies of five Federal Reserve Chairmen 0 0 1 169 0 0 7 1,585
Do bank loan rates exhibit a countercyclical mark-up? 0 1 5 101 2 3 14 391
Endpoint constraints and the St. Louis equation: a clarification 0 0 1 28 0 0 2 76
Evidence on the portfolio balance channel of quantitative easing 1 2 38 38 11 19 61 61
Federal Funds Rate Prediction 0 0 3 13 3 5 12 50
Federal Funds Rate Prediction 0 0 5 194 2 6 23 1,827
Federal Funds Rate Prediction 0 1 8 476 2 13 37 6,330
Federal funds rate prediction 0 1 5 311 1 8 24 1,449
Forecasting the Treasury's balance at the Fed 0 0 3 70 0 2 19 296
Greenspan’s conundrum and the Fed’s ability to affect long-term yields 0 1 25 25 3 10 22 22
How Effective Is Central Bank Forward Guidance? 2 7 27 59 9 25 100 112
How did we get to inflation targeting and where do we go now? a perspective from the U.S. experience 0 2 3 44 11 22 32 101
Identifying the liquidity effect: the case of nonborrowed reserves 0 1 2 72 8 16 23 459
Lag length selection and Granger causality 3 9 43 290 14 27 97 587
Lag-length selection criteria: empirical results from the St. Louis equation 0 0 5 56 2 4 13 132
Lifting the veil of secrecy from monetary policy: evidence from the Fed's early discount rate policy 0 1 1 41 1 2 6 314
Monetary policy transparency: transparent about what? 0 1 2 232 1 4 12 543
Monetary policy: why money matters and interest rates don't 0 0 7 160 4 5 16 238
Monetary policy: why money matters, and interest rates don’t 0 2 64 64 1 6 20 20
On the treatment of the weighted initial observation in the AR(1) regression model 0 0 0 2 0 1 1 31
Open market operations and the federal funds rate 0 2 5 138 4 12 51 853
Predicting bond excess returns with forward rates: an asset-allocation perspective 0 2 10 36 0 8 29 87
Predictions of short-term rates and the expectations hypothesis 0 1 9 101 4 8 27 167
Predictions of short-term rates and the expectations hypothesis of the term structure of interest rates 0 1 2 149 2 11 15 699
Predictions of short-term rates and the expectations hypothesis of the term structure of interest rates 1 9 15 116 5 24 40 243
Price expectations and the demand for money: a comment 0 1 3 23 0 3 5 62
Resolving the unbiasedness and forward premium puzzles 0 0 2 54 0 0 3 96
Resolving the unbiasedness puzzle in the foreign exchange market 0 1 3 19 1 2 12 55
Revisiting the predictability of bond risk premia 0 1 8 58 3 7 22 93
Should consumer expenditures be the scale variable in empirical money demand equations? 0 1 2 20 2 3 6 148
Testing the expectations hypothesis: some new evidence for Japan 0 0 0 56 4 11 15 194
Tests of price sluggishness in the U.K 0 0 0 1 0 0 0 21
Tests of the expectations hypothesis: resolving the Campbell-Shiller paradox 3 6 11 421 14 28 73 1,729
Tests of the expectations hypothesis: resolving the anomalies when the short-term rate is the federal funds rate 0 1 2 120 4 8 11 486
The Andersen-Jordan equation, revisited 0 0 1 20 0 1 18 106
The Dynamic Relationship Between the Federal Funds rate and the Treasury Bill Rate: An Empirical Investigation 2 5 17 453 18 50 135 2,624
The Empirical Failure of the Expectations Hypothesis of the Term Structure of Bond Yields 1 4 10 26 3 8 32 72
The Empirical Failure of the Expectations Hypothesis of the Term Structure of Bond Yields 2 3 10 112 11 21 38 327
The Expectation Hypothesis of the Term Structure of Very Short-Term Rates: Statistical Tests and Economic Value 1 7 16 91 15 42 70 333
The Federal Reserve's operating procedure, nonborrowed reserves, borrowed reserves and the liquidity effect 1 4 8 314 9 26 48 2,099
The Federal Reserve’s response to the financial crisis: what it did and what it should have done 2 6 110 110 12 24 33 33
The Phillips Curve and US Monetary Policy: What the FOMC Transcripts Tell Us 0 0 1 1 3 10 14 15
The Phillips curve and US monetary policy: what the FOMC transcripts tell us 1 2 6 56 3 8 37 134
The appropriate autocorrelation transformation when the autocorrelation process has a finite past 0 1 2 28 1 2 8 179
The appropriate interest rate and scale variable in money demand: results from non-nested tests 0 1 4 25 3 5 33 518
The budget constraint, endogenous money and the relative importance of fiscal policy under alternative financing schemes 0 0 1 13 0 1 9 71
The daily and policy-relevant liquidity effects 0 1 2 20 0 4 7 59
The daily and policy-relevant liquidity effects 0 1 1 22 0 4 5 67
The daily liquidity effect 0 1 2 69 5 19 67 362
The dynamic relationship between the federal funds rate and the Treasury bill rate: an empirical investigation 0 1 19 496 11 34 93 1,893
The effectiveness of unconventional monetary policy: the term auction facility 0 0 5 34 1 5 15 57
The efficient market hypothesis and identification in structural VARs 0 1 3 246 2 5 18 838
The empirical failure of the expectations hypothesis of the term structure of bond yields 2 8 17 351 8 27 54 712
The expectation hypothesis of the term structure of very short-term rates: statistical tests and economic value 1 4 6 200 15 38 52 602
The identification of the response of interest rates to monetary policy actions using market-based measures of monetary policy shocks 1 3 11 42 2 6 29 82
The information content of discount rate announcements: what's behind the announcement effect? 0 0 5 81 6 15 30 726
The market's reaction to discount changes: what's behind the announcement effect? 0 0 0 39 3 5 8 358
The real-balance effect with resource-using money: a capital-theoretic interpretation 0 0 0 1 0 1 2 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 66 29 57 123 702
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 1 256 1 4 8 1,684
The unusual behavior of the federal funds and 10-year Treasury rates: a conundrum or Goodhart’s Law? 0 0 3 95 0 2 18 385
Unanticipated money and the anticipated liquidity effect: some further evidence 0 1 1 12 1 4 7 100
Weighted monetary aggregates as intermediate targets 0 0 0 9 2 2 2 33
What do Almon's endpoint constraints constrain? 0 0 1 11 0 0 1 62
What's unique about the federal funds rate? evidence from a spectral perspective 0 0 1 111 7 9 15 530
When did the FOMC begin targeting the federal funds rate? what the verbatim transcripts tell us 0 1 1 91 2 6 10 521
Why do T-bill rates react to discount rate changes? 0 0 2 61 2 2 13 856
Why do market interest rates respond to money announcements? 0 2 3 25 3 6 13 196
Total Working Papers 25 118 603 7,953 313 794 1,990 39,433

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 2 65
A history of the asymmetric policy directive 0 0 1 73 2 4 8 284
A note on the efficiency of the cochrane-orcutt estimator of the ar(1) regression model 1 1 1 22 1 1 1 56
A note on the expectations hypothesis at the founding of the Fed 0 1 1 18 3 8 9 72
A perspective on the current recession: it's not the "worst case" yet 0 0 2 20 0 0 2 57
A primer on cointegration with an application to money and income 5 9 42 891 17 25 105 1,726
A primer on the mortgage market and mortgage finance 2 4 15 171 7 13 50 472
A proposal for improving forward guidance 0 0 0 0 0 0 2 2
Alternative measures of the monetary base: what are the differences and are they important? 0 0 2 18 0 0 4 181
Alternative policy weapons? 0 0 0 1 0 0 0 29
An early look at the volatility of money and interest rates under CRR 0 1 1 8 0 2 2 45
An experiment is underway 0 0 0 1 0 0 2 23
An extended series of divisia monetary aggregates 0 0 3 37 3 4 9 173
Are weighted monetary aggregates better than simple-sum M1? 0 0 1 21 0 0 2 72
Can the FOMC increase the funds rate without reducing reserves? 1 1 2 2 1 1 2 7
Comments on "Modeling money demand in large industrial countries: Buffer stock and error correction approaches" 0 0 0 5 1 1 3 30
Core versus headline inflation again 0 1 1 10 0 1 3 17
Core versus headline inflation: an opportunity for greater transparency 0 0 0 3 0 0 2 9
Discount rate changes and the foreign exchange market 0 2 2 18 4 8 29 118
Do government deficits matter? 0 0 0 57 0 1 1 264
Does a mild recession imply a weak recovery? 0 0 0 12 0 0 0 42
Does the Fed's new policy of immediate disclosure affect the market? 0 0 1 118 0 1 4 448
Federal Funds Rate Prediction 0 0 0 0 0 3 24 737
Financial innovation, deregulation and the "credit view" of monetary policy 2 5 13 189 3 11 25 494
Forecasting the Treasury's balance at the Fed 0 0 0 15 1 2 2 163
Greenspan's unconventional view of the long-run inflation/output trade-off 0 0 0 20 0 1 1 70
Housing and the "R" word 0 0 0 14 0 1 2 36
How did we get to inflation targeting and where do we need to go to now? a perspective from the U.S. experience 1 3 9 13 2 5 25 31
How effective is monetary policy? 0 0 1 32 1 1 3 75
How good are the government’s deficit and debt projections and should we care? 1 4 9 13 2 8 27 35
How robust are the policy conclusions of the St. Louis equation?: some further evidence 0 1 1 21 0 2 2 75
Identifying the liquidity effect at the daily frequency 1 2 2 81 5 7 8 245
Inflation objective and policy credibility: a potential problem for the FOMC 0 0 0 0 1 1 1 2
Interest rate targets abandoned 0 0 0 5 2 2 3 26
Is the FOMC’s policy inflating asset prices? 0 0 1 1 0 0 4 7
Is there a case for "moderate" inflation? 0 0 1 10 0 1 3 215
Is there less agreement about inflation? 0 1 2 20 0 1 3 48
Lag-Length Selection and Tests of Granger Causality between Money and Income 4 8 31 455 17 30 73 1,104
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 5 7 13 233
M1 or M2: which is the better monetary target? 0 0 4 21 0 0 11 115
Making monetary policy more transparent 0 0 0 12 1 1 3 40
Market anticipations of monetary policy actions 0 2 5 104 3 11 22 257
Maximum Likelihood Estimates of a Partial Adjustment-Adaptive Expectations Model of the Demand for Money 0 1 3 54 2 3 5 171
Measure for measure: headline versus core inflation 0 0 1 15 0 0 3 52
Monetary anticipations and the demand for money: Reply to MacKinnon and Milbourne 0 0 1 15 1 1 9 76
Monetary policy and longer-term rates: an opportunity for greater transparency 0 1 3 6 0 2 7 13
Monetary policy at the zero bound 0 1 2 11 1 2 6 20
Monetary policy transparency: transparent about what? 0 0 0 34 0 4 4 141
Monetizing the debt 1 4 10 39 2 12 22 82
Monetizing the debt 0 0 2 102 1 3 15 554
Money demand dynamics: some new evidence 0 1 2 33 1 5 10 91
Money in a theory of exchange 0 1 4 111 0 5 18 359
Money, net wealth, and the real-balance effect 0 0 1 5 0 2 7 52
Negating the inflation potential of the Fed's lending programs 0 1 2 10 0 2 3 33
Nominal interest rates: less than zero? 0 0 1 99 2 2 9 544
On the informational content of spot and forward exchange rates 0 0 1 14 0 1 2 40
Open market operations and the federal funds rate 0 0 3 76 2 5 15 316
Personal saving and economic growth 1 2 11 26 2 4 20 55
Polynomial distributed lags and the estimation of the St. Louis equation 0 0 1 36 0 0 10 102
Predictability and effectiveness of monetary policy 0 0 1 27 1 1 2 57
Price Expectations and the Demand for Money: A Comment 0 0 1 20 3 5 8 84
Public officials and job creation 0 0 0 4 1 1 1 28
Quantitative easing and money growth: potential for higher inflation? 2 5 16 19 3 7 27 37
Simple analytics of the money supply process and monetary control 0 2 4 43 1 4 8 174
Social security, saving, and wealth accumulation 0 0 1 10 1 1 3 38
Solving the 1980s' velocity puzzle: a progress report 1 2 3 42 1 3 8 247
Subprime side effects in the federal funds market 0 0 0 35 1 1 1 86
Targeting M2: the issue of monetary control 0 0 0 14 0 1 1 109
Tax rates and revenue since the 1970s 1 1 3 5 1 1 7 12
Testing the Expectations Hypothesis: Some New Evidence for Japan 0 0 0 13 2 4 6 81
Testing the expectations hypothesis: some new evidence for Japan 0 1 1 51 2 7 8 199
Tests of covered interest rate parity 1 3 15 346 3 8 41 1,624
Tests of the Expectations Hypothesis: Resolving the Campbell-Shiller Paradox 0 0 1 33 0 10 19 133
Tests of the expectations hypothesis: Resolving the anomalies when the short-term rate is the federal funds rate 0 1 1 30 2 4 13 107
Tests of the market's reaction to federal funds rate target changes 0 1 15 238 2 4 34 914
The Andersen-Jordan equation revisited 0 0 1 12 2 2 7 77
The Empirical Failure of the Expectations Hypothesis of the Term Structure of Bond Yields 2 4 9 43 6 12 35 113
The FOMC in 1981: monetary control in a changing financial environment 0 0 1 4 0 1 2 32
The FOMC in 1982: de-emphasizing M1 0 0 0 3 0 0 3 30
The FOMC's balance-of-risks statement and market expectations of policy actions 0 0 2 61 2 5 16 532
The FOMC’s interest rate policy: how long is the long run? 0 1 3 4 1 2 4 7
The FOMC’s “considerable period” 0 0 2 20 1 1 6 92
The Fed and short-term rates: Is it open market operations, open mouth operations or interest rate smoothing? 0 1 3 81 3 5 10 228
The Fed's inflation objective 0 1 1 27 0 1 1 63
The Fed, liquidity, and credit allocation 0 1 2 73 2 5 8 202
The Federal Reserve's operating procedure, nonborrowed reserves, borrowed reserves and the liquidity effect 0 0 0 153 10 13 25 612
The Information Content of the Federal Funds Rate: Is It Unique? 0 0 0 44 7 20 36 399
The Phillips curve and US monetary policy: what the FOMC transcripts tell us 2 5 15 15 6 16 78 78
The borrowed-reserves operating procedures: theory and evidence 1 3 4 62 1 10 15 374
The case for "inflation first" monetary policy 0 1 1 1 1 4 5 11
The codification of an FOMC procedure 0 0 0 8 0 0 0 51
The cost of checkable deposits in the United States 0 0 0 33 1 2 4 521
The costs and benefits of price stability: an assessment of Howitt's rule 0 0 3 40 1 1 9 182
The discount rate and market interest rates: theory and evidence 1 1 1 68 1 1 3 870
The discount rate and market interest rates: what's the connection? 0 0 1 40 0 0 4 132
The discount rate, interest rates and foreign exchange rates: an analysis with daily data 0 0 2 35 5 6 11 216
The downside of quantitative easing 2 4 12 45 4 8 28 82
The dual mandate: has the Fed changed its objective? 0 0 0 1 0 2 9 12
The dynamic relationship between the federal funds rate and the Treasury bill rate: An empirical investigation 1 3 10 244 9 34 92 980
The effect of monetary policy on short-term interest rates 2 5 7 73 13 26 45 329
The effect of the Fed’s purchase of long-term treasuries on the yield curve 0 1 1 22 0 2 5 57
The effect of unanticipated money on the money and foreign exchange markets 0 0 0 13 0 0 0 47
The effectiveness of unconventional monetary policy: the term auction facility 1 3 13 16 4 11 45 59
The efficacy of monetary policy: a tale from two decades 0 0 2 2 0 0 4 4
The efficacy of the FOMC’s zero interest rate policy 0 2 3 3 0 3 7 7
The efficient market hypothesis and identification in structural VARs 0 0 1 156 3 6 13 841
The empirical significance of the real balance effect 0 0 1 6 0 1 2 21
The exceptional 1990s 0 0 0 4 1 2 6 35
The expectation hypothesis of the term structure of very short-term rates: Statistical tests and economic value 3 23 32 132 12 79 129 465
The expected federal budget surplus: how much confidence should the public and policymakers place in the projections? 0 1 1 54 3 6 11 403
The federal debt: too little revenue or too much spending 0 0 3 14 0 4 11 29
The federal debt: what’s the source of the increase in spending? 0 0 3 9 0 2 7 18
The federal funds and long-term rates 0 0 0 21 0 0 1 57
The funds rate target and interest rates 0 0 0 3 0 0 1 28
The golden dollar: the early evidence 0 0 0 3 0 0 1 38
The government budget constraint with endogenous money 0 0 2 11 0 0 2 32
The importance of an asymmetric directive 0 0 0 29 0 2 4 109
The link between M1 and the monetary base in the 198O's 0 0 1 49 0 0 5 417
The lower and upper bounds of the Federal Open Market Committee's long-run inflation objective 0 0 0 16 3 3 11 94
The macroeconomic effects of deficit spending: a review 0 1 7 160 6 12 34 1,061
The monetary policy transmission mechanism? 0 1 2 47 0 1 5 87
The monetary-fiscal policy debate and the Andersen-Jordan equation 0 1 2 54 0 2 8 654
The monetary/fiscal policy debate: a controlled experiment 0 1 2 55 0 1 4 252
The multiplier approach to the money supply process: a precautionary note 2 5 15 329 12 34 88 1,968
The relationship between the daily and policy-relevant liquidity effects 1 2 2 5 2 6 9 45
Using federal funds futures rates to predict Federal Reserve actions 0 0 0 378 1 4 20 2,013
Verbal guidance and the efficacy of forward guidance 0 0 1 1 0 1 5 5
Walter Bagehot, the discount window, and TAF 2 2 4 19 4 4 8 35
What accounts for the reduced frequency of Fed actions? 0 0 0 6 0 0 0 81
What caused long-term rates to rise? 0 1 1 5 0 1 3 18
What does the change in the FOMC's statement of objectives mean? 0 0 2 4 0 3 8 19
What the Libor-OIS spread says 11 18 48 280 25 34 86 574
What's Unique About the Federal Funds Rate? Evidence from a Spectral Perspective 0 1 1 26 3 5 22 138
Which comes first: inflation or the FOMC's funds rate target? 0 1 1 3 1 2 3 12
Why Do T-Bill Rates React to Discount Rate Changes? 0 0 1 75 2 5 29 1,092
Why does velocity matter? 0 0 0 20 1 1 4 77
Why is employment growth so low? 1 3 6 18 4 8 16 31
Withering dissents 0 0 0 0 0 0 0 27
Would QE2 have a significant effect on economic growth, employment, or inflation? 3 7 22 65 7 13 49 125
Would quantitative easing sooner have tempered the financial crisis and economic recession? 4 8 19 81 4 11 31 154
Total Journal Articles 64 186 543 7,562 294 727 2,002 32,362
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Statistics updated 2013-05-03