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 1 185 0 1 4 493
A dynamic factor analysis of the response of U. S. interest rates to news 0 0 0 137 0 4 5 423
A new federal funds rate target series: September 27, 1982, - December 31, 1993 0 0 1 52 0 1 2 256
A note on the expectations hypothesis at the founding of the Fed 0 0 0 82 0 0 3 300
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 1 2 3 89
An Evaluation of Event-Study Evidence on the Effectiveness of the FOMC’s LSAP Program: Are the Announcement Effects Identified? 1 4 11 23 12 27 41 47
Asymmetry in the prime rate and firms' preference for internal finance 0 0 0 78 0 2 6 728
Complete results for lag length selection 0 0 0 45 0 0 3 112
Discount rate changes and the foreign exchange market 1 1 2 28 1 1 6 170
Discount rate policies of five Federal Reserve Chairmen 0 0 2 171 0 0 5 1,593
Do bank loan rates exhibit a countercyclical mark-up? 0 0 3 106 0 1 13 412
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 0 3 17 68 11 25 72 185
Federal Funds Rate Prediction 0 0 0 13 0 1 14 69
Federal Funds Rate Prediction 0 0 0 196 0 2 5 1,846
Federal Funds Rate Prediction 0 0 2 479 0 3 18 6,355
Federal funds rate prediction 0 2 2 314 1 7 12 1,467
Forecasting the Treasury's balance at the Fed 0 0 1 73 0 1 7 310
Greenspan’s conundrum and the Fed’s ability to affect long-term yields 1 1 7 38 13 26 62 115
How did we get to inflation targeting and where do we go now? a perspective from the U.S. experience 0 0 0 45 8 18 21 131
How effective is central bank forward guidance? 6 9 32 84 15 27 107 201
Identifying the liquidity effect: the case of nonborrowed reserves 0 0 1 73 0 0 9 477
Lag length selection and Granger causality 0 1 4 304 1 2 20 639
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 1 3 44 0 2 7 324
Monetary policy transparency: transparent about what? 0 0 0 236 0 5 17 569
Monetary policy: why money matters and interest rates don't 0 1 10 172 8 21 39 287
Monetary policy: why money matters, and interest rates don’t 2 2 12 80 11 22 47 81
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 1 6 151 2 7 23 898
Predicting bond excess returns with forward rates: an asset-allocation perspective 0 0 1 39 2 4 13 107
Predictions of short-term rates and the expectations hypothesis 2 2 4 113 11 26 44 236
Predictions of short-term rates and the expectations hypothesis of the term structure of interest rates 0 0 2 154 0 1 8 714
Predictions of short-term rates and the expectations hypothesis of the term structure of interest rates 0 0 4 128 3 10 28 306
Price expectations and the demand for money: a comment 0 1 2 27 0 1 3 67
Resolving the unbiasedness and forward premium puzzles 0 0 0 55 0 1 2 103
Resolving the unbiasedness puzzle in the foreign exchange market 0 2 6 27 0 4 12 75
Revisiting the predictability of bond risk premia 0 0 3 64 8 18 27 132
Should consumer expenditures be the scale variable in empirical money demand equations? 0 0 0 21 0 0 2 156
Testing the expectations hypothesis: some new evidence for Japan 0 0 1 57 0 1 9 207
Tests of price sluggishness in the U.K 0 0 0 2 1 1 1 24
Tests of the expectations hypothesis: resolving the Campbell-Shiller paradox 0 2 5 431 3 16 51 1,826
Tests of the expectations hypothesis: resolving the anomalies when the short-term rate is the federal funds rate 0 0 0 121 0 0 4 496
The Andersen-Jordan equation, revisited 0 0 1 21 0 1 3 113
The Dynamic Relationship Between the Federal Funds rate and the Treasury Bill Rate: An Empirical Investigation 0 11 33 516 6 55 200 2,950
The Empirical Failure of the Expectations Hypothesis of the Term Structure of Bond Yields 1 2 3 30 3 6 13 97
The Empirical Failure of the Expectations Hypothesis of the Term Structure of Bond Yields 1 1 4 118 2 5 21 360
The Expectation Hypothesis of the Term Structure of Very Short-Term Rates: Statistical Tests and Economic Value 0 0 2 99 2 2 18 382
The Federal Reserve's operating procedure, nonborrowed reserves, borrowed reserves and the liquidity effect 0 1 7 322 0 2 11 2,130
The Federal Reserve’s response to the financial crisis: what it did and what it should have done 0 1 11 132 3 10 40 112
The Phillips Curve and US Monetary Policy: What the FOMC Transcripts Tell Us 1 2 4 6 1 3 8 33
The Phillips curve and US monetary policy: what the FOMC transcripts tell us 2 2 6 68 4 7 33 186
The appropriate autocorrelation transformation when the autocorrelation process has a finite past 0 0 0 28 0 0 1 181
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 2 74
The daily and policy-relevant liquidity effects 0 1 1 22 8 19 21 82
The daily and policy-relevant liquidity effects 0 0 1 23 0 2 6 74
The daily liquidity effect 0 0 5 75 0 4 18 419
The dynamic relationship between the federal funds rate and the Treasury bill rate: an empirical investigation 0 0 4 510 0 9 65 2,031
The effect of underreporting on LIBOR rates 0 2 10 23 1 5 36 67
The effectiveness of unconventional monetary policy: the term auction facility 0 0 3 38 1 4 23 92
The efficient market hypothesis and identification in structural VARs 1 1 2 249 1 2 6 850
The empirical failure of the expectations hypothesis of the term structure of bond yields 2 2 6 368 4 6 22 756
The expectation hypothesis of the term structure of very short-term rates: statistical tests and economic value 0 1 5 210 1 5 21 641
The identification of the response of interest rates to monetary policy actions using market-based measures of monetary policy shocks 0 1 3 48 1 4 13 103
The information content of discount rate announcements: what's behind the announcement effect? 0 0 0 82 1 2 7 738
The market's reaction to discount changes: what's behind the announcement effect? 0 0 0 39 1 2 8 374
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 5 77 5 13 70 829
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 1 2 11 1,703
The unusual behavior of the federal funds and 10-year Treasury rates: a conundrum or Goodhart’s Law? 1 1 4 100 1 5 10 400
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 1 1 11 0 1 3 39
What do Almon's endpoint constraints constrain? 0 0 0 11 0 0 1 83
What's Unique About the Federal Funds Rate? Evidence from a Spectral Perspective 0 0 0 0 1 1 3 3
What's unique about the federal funds rate? evidence from a spectral perspective 0 0 2 114 0 3 8 545
When did the FOMC begin targeting the federal funds rate? what the verbatim transcripts tell us 2 2 5 97 3 7 23 557
Why do T-bill rates react to discount rate changes? 0 0 1 62 1 5 8 871
Why do market interest rates respond to money announcements? 0 0 2 30 1 2 5 208
Total Working Papers 24 67 280 8,461 165 485 1,516 42,027


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 1 1 3 78 1 1 3 293
A note on the efficiency of the cochrane-orcutt estimator of the ar(1) regression model 0 0 2 24 1 1 5 67
A note on the expectations hypothesis at the founding of the Fed 0 0 0 18 0 1 8 82
A perspective on possible Fed exit strategies 1 2 7 11 1 2 10 14
A perspective on the current recession: it's not the "worst case" yet 0 0 1 21 0 0 13 73
A primer on cointegration with an application to money and income 0 1 20 934 3 9 54 1,829
A primer on the mortgage market and mortgage finance 0 0 8 185 0 1 16 507
A proposal for improving forward guidance 0 1 12 17 0 1 17 36
Alternative measures of the monetary base: what are the differences and are they important? 0 0 1 20 0 0 2 187
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 0 180
Are Virtual “Currencies” Likely to Succeed? 0 3 7 7 1 9 15 15
Are weighted monetary aggregates better than simple-sum M1? 0 0 0 21 1 1 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 1 1 0 0 1 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 0 12 0 0 1 22
Core versus headline inflation: an opportunity for greater transparency 0 0 0 4 0 0 0 12
Discount rate changes and the foreign exchange market 0 0 0 19 2 3 10 143
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 0 0 6 12
Federal Funds Rate Prediction 0 0 0 0 0 1 20 771
Financial innovation, deregulation and the "credit view" of monetary policy 0 0 2 197 0 0 6 513
Forecasting the Treasury's balance at the Fed 0 0 0 15 0 1 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 2 5 5 2 6 16 16
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 1 1 8 48
How effective is monetary policy? 0 0 1 33 0 0 3 81
How good are the government’s deficit and debt projections and should we care? 1 1 2 19 3 3 8 53
How robust are the policy conclusions of the St. Louis equation?: some further evidence 0 0 1 22 0 1 3 79
Identifying the liquidity effect at the daily frequency 0 1 1 83 0 2 4 252
Inflation objective and policy credibility: a potential problem for the FOMC 0 0 2 2 0 0 5 11
Interest rate targets abandoned 0 0 1 6 0 0 1 31
Is nominal GDP targeting a rule policymakers could accept? 0 0 2 2 0 0 7 7
Is the FOMC’s policy inflating asset prices? 0 0 0 2 0 1 2 13
Is the FOMC’s unemployment rate threshold a good idea? 0 0 0 4 0 0 2 7
Is there a case for "moderate" inflation? 0 0 0 10 0 0 0 216
Is there less agreement about inflation? 0 0 1 24 0 0 8 63
Lag-Length Selection and Tests of Granger Causality between Money and Income 5 10 30 495 14 30 101 1,244
Lagged and contemporaneous reserve accounting: an alternative view 0 0 1 9 1 2 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 11 249
M1 or M2: which is the better monetary target? 0 0 1 23 0 1 7 127
Making monetary policy more transparent 0 0 1 13 0 0 2 46
Making sense of dissents: a history of FOMC dissents 0 2 2 2 0 3 4 4
Market anticipations of monetary policy actions 1 2 3 110 2 4 14 285
Maximum Likelihood Estimates of a Partial Adjustment-Adaptive Expectations Model of the Demand for Money 0 0 2 58 0 1 4 181
Measure for measure: headline versus core inflation 0 0 0 17 0 0 5 60
Monetary anticipations and the demand for money: Reply to MacKinnon and Milbourne 0 0 1 16 0 0 5 82
Monetary policy and longer-term rates: an opportunity for greater transparency 0 0 0 6 1 1 2 17
Monetary policy at the zero bound 0 0 0 11 0 0 0 27
Monetary policy transparency: transparent about what? 0 1 2 39 0 2 7 153
Monetizing the debt 3 4 10 58 6 10 41 141
Monetizing the debt 0 1 1 103 0 2 7 566
Money demand dynamics: some new evidence 0 0 0 33 0 0 0 93
Money in a theory of exchange 0 0 1 112 0 1 4 366
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 4 39
Nominal interest rates: less than zero? 0 0 0 101 0 0 12 574
On the informational content of spot and forward exchange rates 0 0 1 15 1 1 6 47
Open market operations and the federal funds rate 0 1 5 88 0 5 18 350
Out-of-Sample Predictions of Bond Excess Returns and Forward Rates: An Asset Allocation Perspective 1 2 6 10 2 4 18 27
Personal saving and economic growth 0 0 1 29 0 0 5 68
Polynomial distributed lags and the estimation of the St. Louis equation 0 0 1 38 1 2 5 112
Predictability and effectiveness of monetary policy 0 0 1 28 0 0 3 65
Price Expectations and the Demand for Money: A Comment 0 0 1 21 0 1 2 94
Public officials and job creation 0 0 0 4 0 0 1 33
QE: is there a portfolio balance effect? 1 2 3 3 2 4 14 14
Quantitative easing and money growth: potential for higher inflation? 1 3 11 38 1 6 15 76
Simple analytics of the money supply process and monetary control 0 1 3 46 0 1 4 181
Social security, saving, and wealth accumulation 0 0 0 10 0 0 3 42
Solving the 1980s' velocity puzzle: a progress report 0 0 2 44 0 0 4 254
Subprime side effects in the federal funds market 0 1 1 36 0 1 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 0 0 2 17
Testing the Expectations Hypothesis: Some New Evidence for Japan 0 0 0 13 0 0 2 90
Testing the expectations hypothesis: some new evidence for Japan 0 0 0 52 0 0 0 206
Tests of covered interest rate parity 0 2 6 356 2 9 25 1,671
Tests of the Expectations Hypothesis: Resolving the Campbell-Shiller Paradox 0 1 3 37 0 4 19 162
Tests of the expectations hypothesis: Resolving the anomalies when the short-term rate is the federal funds rate 0 0 0 30 0 0 8 123
Tests of the market's reaction to federal funds rate target changes 2 4 8 257 2 5 15 967
The Andersen-Jordan equation revisited 0 0 1 16 0 0 2 83
The Empirical Failure of the Expectations Hypothesis of the Term Structure of Bond Yields 2 3 6 53 4 9 25 153
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 1 64 1 3 7 550
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 0 1 8 109
The Fed and short-term rates: Is it open market operations, open mouth operations or interest rate smoothing? 0 0 4 89 0 1 10 251
The Fed's inflation objective 0 0 0 28 0 0 3 68
The Fed, liquidity, and credit allocation 0 0 0 73 1 12 26 234
The Federal Reserve's operating procedure, nonborrowed reserves, borrowed reserves and the liquidity effect 0 0 5 166 1 4 26 662
The Information Content of the Federal Funds Rate: Is It Unique? 0 0 0 44 0 0 6 418
The Phillips curve and US monetary policy: what the FOMC transcripts tell us 0 2 6 26 3 12 32 132
The U.S. deficit/debt problem: a longer-run perspective 0 0 4 13 0 2 10 34
The borrowed-reserves operating procedures: theory and evidence 1 1 1 64 1 1 3 382
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 3 533
The costs and benefits of price stability: an assessment of Howitt's rule 0 0 0 40 0 2 9 196
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 1 2 43 0 1 3 137
The discount rate, interest rates and foreign exchange rates: an analysis with daily data 0 0 0 35 1 2 11 236
The downside of quantitative easing 0 0 3 58 0 1 7 109
The dual mandate: has the Fed changed its objective? 0 0 1 4 0 2 8 26
The dynamic relationship between the federal funds rate and the Treasury bill rate: An empirical investigation 1 2 7 256 2 5 21 1,017
The effect of monetary policy on short-term interest rates 0 1 6 86 2 6 30 385
The effect of the Fed’s purchase of long-term treasuries on the yield curve 0 0 0 25 0 1 7 73
The effect of unanticipated money on the money and foreign exchange markets 0 0 2 16 0 0 3 52
The effect of underreporting on LIBOR rates 0 2 11 19 2 5 36 58
The effectiveness of unconventional monetary policy: the term auction facility 0 0 2 20 0 0 17 88
The efficacy of monetary policy: a tale from two decades 0 0 3 7 1 1 7 15
The efficacy of the FOMC’s zero interest rate policy 0 0 1 6 0 1 7 21
The efficient market hypothesis and identification in structural VARs 0 0 1 158 1 2 6 854
The empirical significance of the real balance effect 0 0 1 9 0 0 1 26
The exceptional 1990s 0 0 0 4 0 0 1 39
The expectation hypothesis of the term structure of very short-term rates: Statistical tests and economic value 0 3 12 170 3 15 50 585
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 0 3 18 1 1 5 44
The federal debt: what’s the source of the increase in spending? 0 0 2 14 0 0 9 33
The federal funds and long-term rates 0 1 2 23 0 1 3 62
The funds rate target and interest rates 0 0 1 4 0 0 9 38
The golden dollar: the early evidence 0 0 0 3 0 0 2 42
The government budget constraint with endogenous money 0 0 1 15 0 1 3 41
The importance of an asymmetric directive 0 0 0 29 2 2 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 3 4 12 117
The macroeconomic effects of deficit spending: a review 1 3 6 173 6 11 31 1,129
The monetary policy transmission mechanism? 0 1 3 50 1 2 9 98
The monetary-fiscal policy debate and the Andersen-Jordan equation 0 1 1 56 0 1 3 666
The monetary/fiscal policy debate: a controlled experiment 0 0 1 57 0 0 2 263
The multiplier approach to the money supply process: a precautionary note 0 2 10 357 4 22 61 2,117
The relationship between the daily and policy-relevant liquidity effects 0 0 1 8 0 0 3 56
Using federal funds futures rates to predict Federal Reserve actions 1 1 2 381 1 4 6 2,031
Verbal guidance and the efficacy of forward guidance 0 0 4 13 0 1 10 27
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 7 89
What caused long-term rates to rise? 0 0 0 6 0 0 4 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 1 3 14 320 5 15 56 685
What's Unique About the Federal Funds Rate? Evidence from a Spectral Perspective 1 1 1 28 1 1 4 147
Which comes first: inflation or the FOMC's funds rate target? 0 0 0 4 0 0 2 16
Why Do T-Bill Rates React to Discount Rate Changes? 0 0 1 77 1 6 11 1,104
Why does velocity matter? 0 0 1 22 0 0 4 84
Why is employment growth so low? 1 2 12 37 1 2 16 67
Why is output growth so slow? 0 0 1 4 0 0 3 10
Withering dissents 0 0 1 1 0 0 3 31
Would QE2 have a significant effect on economic growth, employment, or inflation? 1 1 2 74 1 1 8 148
Would quantitative easing sooner have tempered the financial crisis and economic recession? 0 0 3 93 0 0 8 177
Total Journal Articles 28 80 346 8,268 101 311 1,369 35,105


Statistics updated 2015-01-03