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 1 186 0 4 10 511
A dynamic factor analysis of the response of U. S. interest rates to news 0 0 1 139 0 1 11 439
A new federal funds rate target series: September 27, 1982, - December 31, 1993 0 2 7 60 3 8 24 301
A note on the expectations hypothesis at the founding of the Fed 0 0 0 82 0 1 6 311
A note on the relative efficiency of the Cochrane-Orcutt and OLS estimators when the autocorrelation process has a finite past 1 1 1 17 2 3 5 97
An Evaluation of Event-Study Evidence on the Effectiveness of the FOMC’s LSAP Program: Are the Announcement Effects Identified? 1 2 5 34 1 2 7 76
Asymmetry in the prime rate and firms' preference for internal finance 1 1 1 82 2 2 3 739
Complete results for lag length selection 0 0 0 47 0 0 1 117
Discount rate changes and the foreign exchange market 0 0 0 28 0 0 3 174
Discount rate policies of five Federal Reserve Chairmen 0 1 2 173 0 3 5 1,600
Do bank loan rates exhibit a countercyclical mark-up? 1 2 4 111 1 2 10 428
Endpoint constraints and the St. Louis equation: a clarification 0 0 0 28 0 0 1 79
Evidence on the portfolio balance channel of quantitative easing 0 2 20 116 5 19 113 409
Federal Funds Rate Prediction 0 0 4 20 1 1 12 90
Federal Funds Rate Prediction 0 1 4 202 1 4 17 1,873
Federal Funds Rate Prediction 0 0 2 482 1 7 15 6,382
Federal funds rate prediction 0 0 2 320 1 2 10 1,486
Forecasting the Treasury's balance at the Fed 0 0 0 73 0 1 4 317
Greenspan’s conundrum and the Fed’s ability to affect long-term yields 0 2 2 59 2 8 21 232
How Effective Is Central Bank Forward Guidance? 1 1 6 90 1 5 13 39
How Effective Is Central Bank Forward Guidance? 0 0 1 96 1 2 7 300
How did we get to inflation targeting and where do we go now? a perspective from the U.S. experience 0 1 1 48 1 3 5 144
How effective is central bank forward guidance? 0 1 3 99 1 4 14 265
Identifying the liquidity effect: the case of nonborrowed reserves 0 0 1 74 0 0 4 485
Lag length selection and Granger causality 1 1 4 310 1 2 7 649
Lag-length selection criteria: empirical results from the St. Louis equation 0 0 1 60 0 0 5 145
Lifting the veil of secrecy from monetary policy: evidence from the Fed's early discount rate policy 0 0 0 44 0 1 5 331
Monetary policy transparency: transparent about what? 0 0 0 239 0 0 3 579
Monetary policy: why money matters and interest rates don't 0 1 1 174 1 3 8 306
Monetary policy: why money matters, and interest rates don’t 0 0 1 81 1 3 6 104
On the treatment of the weighted initial observation in the AR(1) regression model 0 0 0 2 0 0 2 36
Open market operations and the federal funds rate 0 0 0 153 0 4 8 910
Predicting bond excess returns with forward rates: an asset-allocation perspective 0 2 4 46 1 3 7 124
Predictions of short-term rates and the expectations hypothesis 0 1 5 121 0 1 12 267
Predictions of short-term rates and the expectations hypothesis of the term structure of interest rates 1 1 3 137 1 1 11 340
Predictions of short-term rates and the expectations hypothesis of the term structure of interest rates 0 0 2 157 0 0 6 733
Price expectations and the demand for money: a comment 0 0 0 28 0 0 6 77
Resolving the unbiasedness and forward premium puzzles 0 1 2 57 0 3 4 111
Resolving the unbiasedness puzzle in the foreign exchange market 0 0 1 29 0 1 2 83
Revisiting the predictability of bond risk premia 0 2 2 67 1 4 7 148
Should consumer expenditures be the scale variable in empirical money demand equations? 0 0 0 21 0 0 1 160
Testing the expectations hypothesis: some new evidence for Japan 0 0 0 57 0 2 5 215
Tests of price sluggishness in the U.K 0 0 0 2 1 1 2 26
Tests of the expectations hypothesis: resolving the Campbell-Shiller paradox 0 0 4 438 2 8 17 1,861
Tests of the expectations hypothesis: resolving the anomalies when the short-term rate is the federal funds rate 0 0 0 124 0 0 2 509
The Andersen-Jordan equation, revisited 0 0 0 22 0 0 1 116
The Dynamic Relationship Between the Federal Funds rate and the Treasury Bill Rate: An Empirical Investigation 0 0 6 550 3 7 38 3,101
The Empirical Failure of the Expectations Hypothesis of the Term Structure of Bond Yields 0 0 1 33 0 1 9 119
The Empirical Failure of the Expectations Hypothesis of the Term Structure of Bond Yields 0 0 1 122 0 3 16 389
The Expectation Hypothesis of the Term Structure of Very Short-Term Rates: Statistical Tests and Economic Value 0 0 0 102 0 0 14 414
The Federal Reserve's operating procedure, nonborrowed reserves, borrowed reserves and the liquidity effect 0 0 2 325 0 2 14 2,148
The Federal Reserve’s response to the financial crisis: what it did and what it should have done 0 2 6 145 2 6 27 160
The Phillips Curve and US Monetary Policy: What the FOMC Transcripts Tell Us 1 1 2 9 2 3 16 56
The Phillips curve and US monetary policy: what the FOMC transcripts tell us 0 1 4 78 0 5 20 214
The appropriate autocorrelation transformation when the autocorrelation process has a finite past 0 0 0 28 0 0 1 184
The appropriate interest rate and scale variable in money demand: results from non-nested tests 0 0 0 25 0 0 1 527
The budget constraint, endogenous money and the relative importance of fiscal policy under alternative financing schemes 0 0 0 13 0 0 2 77
The daily and policy-relevant liquidity effects 0 0 1 24 0 1 4 80
The daily and policy-relevant liquidity effects 0 1 1 23 0 1 2 88
The daily liquidity effect 0 1 1 77 0 1 4 426
The dynamic relationship between the federal funds rate and the Treasury bill rate: an empirical investigation 0 0 4 518 1 6 25 2,076
The effect of underreporting on LIBOR rates 0 2 4 30 1 4 16 103
The effectiveness of unconventional monetary policy: the term auction facility 1 2 4 51 1 3 14 125
The efficient market hypothesis and identification in structural VARs 0 0 0 250 0 1 5 859
The empirical failure of the expectations hypothesis of the term structure of bond yields 0 1 5 377 0 1 10 779
The expectation hypothesis of the term structure of very short-term rates: statistical tests and economic value 0 1 3 217 2 11 55 727
The identification of the response of interest rates to monetary policy actions using market-based measures of monetary policy shocks 0 1 2 54 4 12 60 188
The information content of discount rate announcements: what's behind the announcement effect? 0 0 0 82 1 2 6 745
The market's reaction to discount changes: what's behind the announcement effect? 0 0 0 39 1 1 2 378
The real-balance effect with resource-using money: a capital-theoretic interpretation 0 0 0 1 0 1 3 45
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 82 2 12 45 930
The relationship between the federal funds rate and the Fed's federal funds rate target: is it open market or open mouth operations? 1 1 3 263 2 5 11 1,723
The unusual behavior of the federal funds and 10-year Treasury rates: a conundrum or Goodhart’s Law? 0 1 2 105 2 4 6 413
Unanticipated money and the anticipated liquidity effect: some further evidence 0 0 0 15 0 0 3 108
Weighted monetary aggregates as intermediate targets 0 0 0 11 0 1 1 44
What do Almon's endpoint constraints constrain? 0 0 0 12 0 0 2 95
What's Unique About the Federal Funds Rate? Evidence from a Spectral Perspective 0 0 0 0 0 1 8 13
What's unique about the federal funds rate? evidence from a spectral perspective 0 0 0 114 0 1 11 559
When did the FOMC begin targeting the federal funds rate? what the verbatim transcripts tell us 0 0 1 102 0 5 18 589
Why do T-bill rates react to discount rate changes? 0 0 0 64 0 2 3 882
Why do market interest rates respond to money announcements? 0 0 2 34 0 0 5 217
Total Working Papers 10 41 155 9,010 57 222 925 44,305


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 4 73
A history of the asymmetric policy directive 0 0 2 82 1 1 7 304
A note on the efficiency of the cochrane-orcutt estimator of the ar(1) regression model 0 1 1 28 0 1 5 77
A note on the expectations hypothesis at the founding of the Fed 0 0 1 19 0 1 9 94
A perspective on possible Fed exit strategies 0 0 1 18 0 1 5 32
A perspective on the current recession: it's not the "worst case" yet 0 1 1 23 0 1 3 79
A primer on cointegration with an application to money and income 1 1 3 947 5 8 31 1,892
A primer on the mortgage market and mortgage finance 0 1 6 192 2 5 23 539
A proposal for improving forward guidance 0 0 0 21 0 1 5 50
Alternative measures of the monetary base: what are the differences and are they important? 0 1 1 21 0 3 4 192
Alternative policy weapons? 0 0 0 2 0 0 1 33
An early look at the volatility of money and interest rates under CRR 0 0 0 8 0 0 1 47
An experiment is underway 0 0 0 2 0 1 3 30
An extended series of divisia monetary aggregates 0 0 0 38 0 0 3 186
Are Virtual “Currencies” Likely to Succeed? 0 0 1 11 0 0 6 32
Are weighted monetary aggregates better than simple-sum M1? 0 0 1 23 0 1 6 81
Can the FOMC increase the funds rate without reducing reserves? 0 0 1 4 0 0 4 20
Channels of monetary policy. Proceedings of the Nineteenth Annual Economic Policy Conference held October 20-21, 1994 0 0 0 0 0 0 4 151
Channels of monetary policy. Proceedings of the Nineteenth Annual Economic Policy Conference held October 20-21, 1994 0 0 0 1 0 0 1 40
Channels of monetary policy: conference introduction 0 0 0 0 0 0 1 5
Channels of monetary policy: conference introduction 0 0 0 13 0 1 3 51
Comments on "Modeling money demand in large industrial countries: Buffer stock and error correction approaches" 0 0 0 5 0 0 1 34
Core versus headline inflation again 0 0 0 15 0 0 1 30
Core versus headline inflation: an opportunity for greater transparency 0 0 0 4 1 1 2 19
Discount rate changes and the foreign exchange market 0 0 0 19 1 3 37 200
Do government deficits matter? 0 0 0 57 0 1 3 269
Does a mild recession imply a weak recovery? 0 0 0 13 0 0 1 51
Does the Fed's new policy of immediate disclosure affect the market? 0 0 0 119 0 0 4 458
Does the economy need more spending now? 0 0 0 3 0 0 5 20
Federal Funds Rate Prediction 0 0 0 0 1 3 11 787
Financial innovation, deregulation and the "credit view" of monetary policy 0 0 1 200 0 0 7 524
Forecasting the Treasury's balance at the Fed 0 0 2 17 0 1 4 174
Greenspan's unconventional view of the long-run inflation/output trade-off 0 0 0 20 0 0 4 80
Guest editor's introduction: What monetary policy can and cannot do 0 0 3 3 1 2 13 13
Has QE been effective? 0 1 4 19 2 5 14 58
Housing and the "R" word 0 0 0 15 0 0 1 41
How Effective Is Central Bank Forward Guidance? 1 3 19 20 3 9 46 51
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 17 1 2 8 60
How effective is monetary policy? 0 0 1 34 0 2 12 100
How good are the government’s deficit and debt projections and should we care? 0 0 1 24 0 0 6 67
How robust are the policy conclusions of the St. Louis equation?: some further evidence 0 0 0 23 0 0 6 93
Identifying the liquidity effect at the daily frequency 0 0 1 86 0 1 8 263
Inflation objective and policy credibility: a potential problem for the FOMC 0 0 0 2 0 0 2 16
Interest rate targets abandoned 0 0 0 6 0 1 2 35
Is nominal GDP targeting a rule policymakers could accept? 0 0 1 6 0 0 4 20
Is the FOMC’s policy inflating asset prices? 0 0 0 4 0 0 1 19
Is the FOMC’s unemployment rate threshold a good idea? 0 0 1 5 0 1 2 11
Is there a case for "moderate" inflation? 0 0 1 11 0 0 2 219
Is there less agreement about inflation? 0 0 0 25 0 0 2 69
Lag-Length Selection and Tests of Granger Causality between Money and Income 0 1 7 518 1 4 20 1,311
Lagged and contemporaneous reserve accounting: an alternative view 0 0 0 9 0 0 2 83
Lifting the Veil of Secrecy from Monetary Policy: Evidence from the Fed's Early Discount Rate Policy 0 0 0 0 1 3 6 258
M1 or M2: which is the better monetary target? 0 0 0 23 0 0 3 132
Making monetary policy more transparent 0 0 0 14 0 0 1 50
Making sense of dissents: a history of FOMC dissents 0 0 3 6 0 1 12 24
Market anticipations of monetary policy actions 0 0 1 111 0 5 12 300
Maximum Likelihood Estimates of a Partial Adjustment-Adaptive Expectations Model of the Demand for Money 0 0 1 59 0 2 5 189
Measure for measure: headline versus core inflation 0 1 3 21 0 1 7 69
Monetary anticipations and the demand for money: Reply to MacKinnon and Milbourne 0 1 2 18 0 1 7 95
Monetary policy and longer-term rates: an opportunity for greater transparency 0 0 0 6 0 2 3 22
Monetary policy at the zero bound 0 0 0 12 0 0 0 34
Monetary policy transparency: transparent about what? 0 0 0 40 0 0 1 162
Monetary policy: Why money matters (and interest rates don’t) 0 2 8 38 2 7 25 105
Monetizing the debt 1 1 2 108 1 3 8 580
Monetizing the debt 1 3 6 73 2 9 26 197
Money demand dynamics: some new evidence 0 0 0 34 0 0 3 99
Money in a theory of exchange 0 0 0 113 0 1 7 377
Money, net wealth, and the real-balance effect 0 0 0 5 0 0 4 59
Negating the inflation potential of the Fed's lending programs 0 0 0 10 0 0 0 41
Nominal interest rates: less than zero? 1 1 1 106 3 8 10 591
On the informational content of spot and forward exchange rates 0 0 0 17 0 0 5 56
Open market operations and the federal funds rate 0 1 2 90 0 3 11 370
Out-of-Sample Predictions of Bond Excess Returns and Forward Rates: An Asset Allocation Perspective 1 2 6 19 2 4 15 55
Personal saving and economic growth 0 1 6 39 0 1 9 83
Polynomial distributed lags and the estimation of the St. Louis equation 0 0 0 39 0 1 10 127
Predictability and effectiveness of monetary policy 0 0 0 28 0 0 3 69
Price Expectations and the Demand for Money: A Comment 0 0 0 21 0 0 4 102
Public officials and job creation 0 0 1 6 0 0 6 45
QE: is there a portfolio balance effect? 0 0 3 12 2 5 19 63
Quantitative easing and money growth: potential for higher inflation? 0 0 0 43 0 0 1 88
Simple analytics of the money supply process and monetary control 0 0 2 49 0 0 4 190
Social security, saving, and wealth accumulation 0 0 1 14 0 0 2 48
Solving the 1980s' velocity puzzle: a progress report 0 0 0 48 0 0 3 269
Subprime side effects in the federal funds market 0 0 0 36 0 1 2 93
Targeting M2: the issue of monetary control 0 0 0 14 1 1 3 122
Tax rates and revenue since the 1970s 0 0 0 5 0 1 2 22
Testing the Expectations Hypothesis: Some New Evidence for Japan 0 0 0 13 0 1 5 100
Testing the expectations hypothesis: some new evidence for Japan 0 0 0 52 0 1 2 210
Tests of covered interest rate parity 0 0 12 374 0 3 39 1,736
Tests of the Expectations Hypothesis: Resolving the Campbell-Shiller Paradox 0 0 3 45 0 2 9 183
Tests of the expectations hypothesis: Resolving the anomalies when the short-term rate is the federal funds rate 0 0 1 34 0 1 7 141
Tests of the market's reaction to federal funds rate target changes 0 0 8 273 1 1 36 1,038
The Andersen-Jordan equation revisited 0 0 0 17 0 0 5 93
The Empirical Failure of the Expectations Hypothesis of the Term Structure of Bond Yields 0 1 4 61 2 7 21 188
The FOMC in 1981: monetary control in a changing financial environment 0 0 0 4 0 0 3 36
The FOMC in 1982: de-emphasizing M1 0 0 1 4 0 0 1 36
The FOMC's balance-of-risks statement and market expectations of policy actions 0 1 2 67 0 2 12 582
The FOMC’s interest rate policy: how long is the long run? 0 0 0 5 0 3 4 16
The FOMC’s “considerable period” 0 0 0 21 0 0 4 118
The Fed and short-term rates: Is it open market operations, open mouth operations or interest rate smoothing? 0 0 4 94 0 2 14 269
The Fed's inflation objective 0 0 0 29 0 0 2 74
The Fed, liquidity, and credit allocation 0 0 0 74 0 0 4 249
The Federal Reserve's operating procedure, nonborrowed reserves, borrowed reserves and the liquidity effect 0 0 3 171 0 2 16 689
The Information Content of the Federal Funds Rate: Is It Unique? 0 0 0 44 0 2 8 428
The Phillips curve and US monetary policy: what the FOMC transcripts tell us 1 1 2 31 4 9 33 175
The U.S. deficit/debt problem: a longer-run perspective 0 0 1 19 1 1 4 45
The borrowed-reserves operating procedures: theory and evidence 0 0 0 65 0 2 7 391
The case for "inflation first" monetary policy 0 0 0 2 0 0 2 23
The codification of an FOMC procedure 0 0 0 8 0 0 3 56
The cost of checkable deposits in the United States 0 0 0 33 1 2 4 537
The costs and benefits of price stability: an assessment of Howitt's rule 0 0 2 45 0 3 10 213
The discount rate and market interest rates: theory and evidence 0 0 0 68 0 0 2 874
The discount rate and market interest rates: what's the connection? 0 0 2 45 0 0 7 145
The discount rate, interest rates and foreign exchange rates: an analysis with daily data 0 1 3 38 0 3 10 250
The downside of quantitative easing 0 0 6 68 0 2 17 139
The dual mandate: has the Fed changed its objective? 0 1 1 6 1 2 2 34
The dynamic relationship between the federal funds rate and the Treasury bill rate: An empirical investigation 0 0 1 261 0 3 16 1,041
The effect of monetary policy on short-term interest rates 0 0 0 91 0 1 7 406
The effect of the Fed’s purchase of long-term treasuries on the yield curve 0 0 0 27 0 0 4 83
The effect of unanticipated money on the money and foreign exchange markets 0 0 0 16 0 0 9 64
The effect of underreporting on LIBOR rates 1 3 7 32 1 4 21 100
The effectiveness of unconventional monetary policy: the term auction facility 0 0 0 25 0 0 4 109
The efficacy of monetary policy: a tale from two decades 1 1 1 10 1 1 2 23
The efficacy of the FOMC’s zero interest rate policy 0 0 3 9 0 0 4 27
The efficient market hypothesis and identification in structural VARs 0 1 1 161 0 1 8 868
The empirical significance of the real balance effect 0 0 1 10 0 0 4 33
The exceptional 1990s 0 1 1 7 0 1 4 46
The expectation hypothesis of the term structure of very short-term rates: Statistical tests and economic value 0 0 0 176 0 0 6 618
The expected federal budget surplus: how much confidence should the public and policymakers place in the projections? 0 0 3 61 0 0 10 426
The federal debt: too little revenue or too much spending 0 0 1 21 1 1 5 57
The federal debt: what’s the source of the increase in spending? 0 0 0 15 0 1 5 43
The federal funds and long-term rates 0 0 1 24 0 0 4 69
The funds rate target and interest rates 0 0 1 5 0 0 2 43
The golden dollar: the early evidence 0 0 0 3 0 0 1 44
The government budget constraint with endogenous money 0 1 2 17 0 1 5 46
The identification of the response of interest rates to monetary policy actions using market-based measures of monetary policy shocks 0 0 2 18 0 2 7 56
The importance of an asymmetric directive 0 0 0 29 1 2 6 122
The link between M1 and the monetary base in the 198O's 0 0 0 49 0 1 5 423
The lower and upper bounds of the Federal Open Market Committee's long-run inflation objective 0 0 0 17 0 2 6 151
The macroeconomic effects of deficit spending: a review 0 0 3 180 2 7 23 1,175
The monetary policy transmission mechanism? 0 0 0 55 0 1 5 110
The monetary-fiscal policy debate and the Andersen-Jordan equation 0 0 1 57 0 1 7 680
The monetary/fiscal policy debate: a controlled experiment 0 0 1 58 0 1 4 268
The multiplier approach to the money supply process: a precautionary note 0 0 4 372 2 5 30 2,213
The relationship between the daily and policy-relevant liquidity effects 0 0 0 9 0 0 3 62
Using federal funds futures rates to predict Federal Reserve actions 0 0 1 384 0 0 11 2,054
Verbal guidance and the efficacy of forward guidance 0 0 0 16 0 0 3 39
Walter Bagehot, the discount window, and TAF 0 0 0 21 0 0 2 51
What accounts for the reduced frequency of Fed actions? 0 0 0 6 0 1 4 94
What caused long-term rates to rise? 0 0 0 7 1 1 4 33
What does the change in the FOMC's statement of objectives mean? 0 0 0 4 0 0 0 26
What the Libor-OIS spread says 1 1 12 354 1 1 31 782
What's Unique About the Federal Funds Rate? Evidence from a Spectral Perspective 0 0 1 29 0 1 9 159
Which comes first: inflation or the FOMC's funds rate target? 0 0 0 4 0 0 2 22
Why Do T-Bill Rates React to Discount Rate Changes? 0 0 0 77 0 3 7 1,133
Why does velocity matter? 0 0 4 29 2 4 17 125
Why is employment growth so low? 0 2 8 53 0 3 15 101
Why is output growth so slow? 0 0 0 4 0 0 2 16
Withering dissents 0 0 0 1 0 0 0 31
Would QE2 have a significant effect on economic growth, employment, or inflation? 0 0 2 80 0 0 6 165
Would quantitative easing sooner have tempered the financial crisis and economic recession? 0 0 0 95 1 1 4 185
Total Journal Articles 10 38 227 8,840 56 224 1,226 37,859


Statistics updated 2017-02-02