Access Statistics for Daniel Thornton

Author contact details at EconPapers.

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 0 185 1 3 7 501
A dynamic factor analysis of the response of U. S. interest rates to news 0 0 1 138 0 0 5 428
A new federal funds rate target series: September 27, 1982, - December 31, 1993 0 0 1 53 2 7 21 277
A note on the expectations hypothesis at the founding of the Fed 0 0 0 82 1 2 5 305
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 0 0 3 92
An Evaluation of Event-Study Evidence on the Effectiveness of the FOMC’s LSAP Program: Are the Announcement Effects Identified? 1 3 5 29 1 4 17 69
Asymmetry in the prime rate and firms' preference for internal finance 0 0 3 81 0 0 7 736
Complete results for lag length selection 0 0 2 47 0 1 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 0 2 1,595
Do bank loan rates exhibit a countercyclical mark-up? 0 0 1 107 0 0 4 418
Endpoint constraints and the St. Louis equation: a clarification 0 0 0 28 0 0 1 78
Evidence on the portfolio balance channel of quantitative easing 3 9 27 96 9 26 95 296
Federal Funds Rate Prediction 0 0 2 198 0 0 10 1,856
Federal Funds Rate Prediction 0 0 1 480 0 3 5 6,367
Federal Funds Rate Prediction 0 0 3 16 0 0 8 78
Federal funds rate prediction 0 0 3 318 0 0 8 1,476
Forecasting the Treasury's balance at the Fed 0 0 0 73 0 1 3 313
Greenspan’s conundrum and the Fed’s ability to affect long-term yields 1 2 16 57 2 9 80 211
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 5 139
How effective is central bank forward guidance? 0 3 12 96 0 10 49 251
Identifying the liquidity effect: the case of nonborrowed reserves 0 0 0 73 0 0 0 481
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 0 1 59 0 0 2 140
Lifting the veil of secrecy from monetary policy: evidence from the Fed's early discount rate policy 0 0 0 44 0 2 2 326
Monetary policy transparency: transparent about what? 0 0 2 239 0 2 6 576
Monetary policy: why money matters and interest rates don't 1 1 1 173 1 2 7 298
Monetary policy: why money matters, and interest rates don’t 0 0 0 80 0 1 14 98
On the treatment of the weighted initial observation in the AR(1) regression model 0 0 0 2 0 0 2 34
Open market operations and the federal funds rate 0 0 2 153 1 2 4 902
Predicting bond excess returns with forward rates: an asset-allocation perspective 0 2 3 42 1 4 9 117
Predictions of short-term rates and the expectations hypothesis 0 0 2 116 2 4 15 255
Predictions of short-term rates and the expectations hypothesis of the term structure of interest rates 0 0 1 155 0 3 13 727
Predictions of short-term rates and the expectations hypothesis of the term structure of interest rates 0 1 6 134 3 9 20 329
Price expectations and the demand for money: a comment 0 1 1 28 0 1 4 71
Resolving the unbiasedness and forward premium puzzles 0 0 0 55 0 1 4 107
Resolving the unbiasedness puzzle in the foreign exchange market 0 0 1 28 0 2 6 81
Revisiting the predictability of bond risk premia 0 0 1 65 0 1 6 141
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 0 0 0 24
Tests of the expectations hypothesis: resolving the Campbell-Shiller paradox 0 0 3 434 1 3 17 1,844
Tests of the expectations hypothesis: resolving the anomalies when the short-term rate is the federal funds rate 1 2 3 124 1 5 11 507
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 0 4 27 544 7 19 109 3,063
The Empirical Failure of the Expectations Hypothesis of the Term Structure of Bond Yields 0 0 2 32 1 1 12 110
The Empirical Failure of the Expectations Hypothesis of the Term Structure of Bond Yields 0 1 2 121 0 4 12 373
The Expectation Hypothesis of the Term Structure of Very Short-Term Rates: Statistical Tests and Economic Value 0 0 2 102 1 2 17 400
The Federal Reserve's operating procedure, nonborrowed reserves, borrowed reserves and the liquidity effect 0 0 1 323 0 2 4 2,134
The Federal Reserve’s response to the financial crisis: what it did and what it should have done 0 0 7 139 0 2 20 133
The Phillips Curve and US Monetary Policy: What the FOMC Transcripts Tell Us 0 0 1 7 0 0 7 40
The Phillips curve and US monetary policy: what the FOMC transcripts tell us 0 0 5 74 0 0 7 194
The appropriate autocorrelation transformation when the autocorrelation process has a finite past 0 0 0 28 0 0 2 183
The appropriate interest rate and scale variable in money demand: results from non-nested tests 0 0 0 25 0 0 1 526
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 0 1 86
The daily and policy-relevant liquidity effects 0 0 0 23 0 0 2 76
The daily liquidity effect 0 0 0 76 0 0 2 422
The dynamic relationship between the federal funds rate and the Treasury bill rate: an empirical investigation 0 2 4 514 0 8 20 2,051
The effect of underreporting on LIBOR rates 0 1 3 26 2 6 18 87
The effectiveness of unconventional monetary policy: the term auction facility 1 4 8 47 1 5 17 111
The efficient market hypothesis and identification in structural VARs 0 0 1 250 0 0 4 854
The empirical failure of the expectations hypothesis of the term structure of bond yields 0 1 4 372 0 2 13 769
The expectation hypothesis of the term structure of very short-term rates: statistical tests and economic value 0 0 4 214 6 10 29 672
The identification of the response of interest rates to monetary policy actions using market-based measures of monetary policy shocks 1 1 4 52 5 9 23 128
The information content of discount rate announcements: what's behind the announcement effect? 0 0 0 82 0 0 1 739
The market's reaction to discount changes: what's behind the announcement effect? 0 0 0 39 1 1 2 376
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 0 260 0 1 6 1,712
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 1 10 52 885
The unusual behavior of the federal funds and 10-year Treasury rates: a conundrum or Goodhart’s Law? 1 1 3 103 1 2 7 407
Unanticipated money and the anticipated liquidity effect: some further evidence 0 1 1 15 0 1 1 105
Weighted monetary aggregates as intermediate targets 0 0 0 11 0 0 4 43
What do Almon's endpoint constraints constrain? 0 0 1 12 0 1 10 93
What's Unique About the Federal Funds Rate? Evidence from a Spectral Perspective 0 0 0 0 0 0 2 5
What's unique about the federal funds rate? evidence from a spectral perspective 0 0 0 114 0 2 3 548
When did the FOMC begin targeting the federal funds rate? what the verbatim transcripts tell us 1 2 4 101 1 2 13 571
Why do T-bill rates react to discount rate changes? 0 0 2 64 1 2 8 879
Why do market interest rates respond to money announcements? 0 0 1 32 1 1 3 212
Total Working Papers 11 42 197 8,676 55 201 922 43,061


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 0 69
A history of the asymmetric policy directive 0 1 2 80 1 3 4 297
A note on the efficiency of the cochrane-orcutt estimator of the ar(1) regression model 0 0 3 27 0 0 5 72
A note on the expectations hypothesis at the founding of the Fed 0 0 0 18 0 1 3 85
A perspective on possible Fed exit strategies 0 0 4 17 2 3 11 27
A perspective on the current recession: it's not the "worst case" yet 0 0 1 22 0 0 1 76
A primer on cointegration with an application to money and income 0 1 9 944 0 1 21 1,861
A primer on the mortgage market and mortgage finance 0 0 0 186 1 2 7 516
A proposal for improving forward guidance 0 1 4 21 0 1 9 45
Alternative measures of the monetary base: what are the differences and are they important? 0 0 0 20 0 0 1 188
Alternative policy weapons? 0 0 0 2 0 0 2 32
An early look at the volatility of money and interest rates under CRR 0 0 0 8 1 1 1 46
An experiment is underway 0 0 0 2 0 0 1 27
An extended series of divisia monetary aggregates 0 0 0 38 1 2 2 183
Are Virtual “Currencies” Likely to Succeed? 0 0 1 10 0 1 7 26
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 4 16
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 1 3 4
Comments on "Modeling money demand in large industrial countries: Buffer stock and error correction approaches" 0 0 0 5 1 1 1 33
Core versus headline inflation again 0 0 2 15 1 1 6 29
Core versus headline inflation: an opportunity for greater transparency 0 0 0 4 2 2 5 17
Discount rate changes and the foreign exchange market 0 0 0 19 2 5 11 163
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 2 4 50
Does the Fed's new policy of immediate disclosure affect the market? 0 0 0 119 0 0 1 454
Does the economy need more spending now? 0 0 0 3 0 1 3 15
Federal Funds Rate Prediction 0 0 0 0 0 1 4 776
Financial innovation, deregulation and the "credit view" of monetary policy 0 1 2 199 1 2 4 517
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 0 0 76
Has QE been effective? 0 1 9 15 0 3 27 44
Housing and the "R" word 0 0 1 15 0 0 2 40
How Effective Is Central Bank Forward Guidance? 1 1 1 1 2 5 5 5
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 0 1 4 52
How effective is monetary policy? 0 0 0 33 0 2 7 88
How good are the government’s deficit and debt projections and should we care? 0 0 4 23 1 2 8 61
How robust are the policy conclusions of the St. Louis equation?: some further evidence 0 0 0 23 1 3 6 87
Identifying the liquidity effect at the daily frequency 0 0 2 85 0 0 3 255
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 2 33
Is nominal GDP targeting a rule policymakers could accept? 0 0 1 5 0 1 7 16
Is the FOMC’s policy inflating asset prices? 0 0 1 4 0 0 4 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 0 0 10 1 1 1 217
Is there less agreement about inflation? 0 0 1 25 0 0 4 67
Lag-Length Selection and Tests of Granger Causality between Money and Income 2 2 15 511 2 6 44 1,291
Lagged and contemporaneous reserve accounting: an alternative view 0 0 0 9 0 0 1 81
Lifting the Veil of Secrecy from Monetary Policy: Evidence from the Fed's Early Discount Rate Policy 0 0 0 0 1 1 2 252
M1 or M2: which is the better monetary target? 0 0 0 23 1 1 2 129
Making monetary policy more transparent 0 0 1 14 0 0 3 49
Making sense of dissents: a history of FOMC dissents 0 0 1 3 2 2 8 12
Market anticipations of monetary policy actions 0 0 0 110 0 0 3 288
Maximum Likelihood Estimates of a Partial Adjustment-Adaptive Expectations Model of the Demand for Money 0 0 0 58 1 1 3 184
Measure for measure: headline versus core inflation 0 0 1 18 0 0 2 62
Monetary anticipations and the demand for money: Reply to MacKinnon and Milbourne 0 0 0 16 0 3 6 88
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 2 2 7 34
Monetary policy transparency: transparent about what? 0 0 1 40 0 2 8 161
Monetizing the debt 1 1 9 67 2 6 29 171
Monetizing the debt 0 1 3 106 0 2 6 572
Money demand dynamics: some new evidence 0 0 1 34 0 0 3 96
Money in a theory of exchange 0 0 1 113 0 1 4 370
Money, net wealth, and the real-balance effect 0 0 0 5 0 0 1 55
Negating the inflation potential of the Fed's lending programs 0 0 0 10 1 1 2 41
Nominal interest rates: less than zero? 0 0 4 105 1 1 7 581
On the informational content of spot and forward exchange rates 0 0 2 17 1 1 4 51
Open market operations and the federal funds rate 0 0 0 88 2 4 8 359
Out-of-Sample Predictions of Bond Excess Returns and Forward Rates: An Asset Allocation Perspective 0 0 3 13 1 1 12 40
Personal saving and economic growth 0 0 3 33 0 0 5 74
Polynomial distributed lags and the estimation of the St. Louis equation 1 1 1 39 2 2 4 117
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 2 4 98
Public officials and job creation 0 0 1 5 0 0 6 39
QE: is there a portfolio balance effect? 0 0 6 9 2 9 29 44
Quantitative easing and money growth: potential for higher inflation? 0 0 5 43 1 1 11 87
Simple analytics of the money supply process and monetary control 0 0 1 47 1 1 5 186
Social security, saving, and wealth accumulation 0 0 3 13 0 1 4 46
Solving the 1980s' velocity puzzle: a progress report 1 3 4 48 1 4 12 266
Subprime side effects in the federal funds market 0 0 0 36 0 0 0 91
Targeting M2: the issue of monetary control 0 0 0 14 1 1 2 119
Tax rates and revenue since the 1970s 0 0 0 5 0 1 3 20
Testing the Expectations Hypothesis: Some New Evidence for Japan 0 0 0 13 1 3 5 95
Testing the expectations hypothesis: some new evidence for Japan 0 0 0 52 1 1 2 208
Tests of covered interest rate parity 2 4 6 362 3 11 26 1,697
Tests of the Expectations Hypothesis: Resolving the Campbell-Shiller Paradox 0 0 5 42 0 0 12 174
Tests of the expectations hypothesis: Resolving the anomalies when the short-term rate is the federal funds rate 0 0 3 33 2 4 11 134
Tests of the market's reaction to federal funds rate target changes 0 1 8 265 2 8 34 1,002
The Andersen-Jordan equation revisited 0 0 0 17 2 2 3 88
The Empirical Failure of the Expectations Hypothesis of the Term Structure of Bond Yields 0 1 3 57 0 3 12 167
The FOMC in 1981: monetary control in a changing financial environment 0 0 0 4 1 1 1 33
The FOMC in 1982: de-emphasizing M1 0 0 0 3 1 2 3 35
The FOMC's balance-of-risks statement and market expectations of policy actions 1 1 1 65 3 5 19 570
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 5 114
The Fed and short-term rates: Is it open market operations, open mouth operations or interest rate smoothing? 0 0 1 90 0 0 4 255
The Fed's inflation objective 0 0 1 29 0 0 4 72
The Fed, liquidity, and credit allocation 0 0 1 74 1 3 10 245
The Federal Reserve's operating procedure, nonborrowed reserves, borrowed reserves and the liquidity effect 0 1 2 168 2 5 11 673
The Information Content of the Federal Funds Rate: Is It Unique? 0 0 0 44 0 1 2 420
The Phillips curve and US monetary policy: what the FOMC transcripts tell us 0 0 2 29 1 2 8 142
The U.S. deficit/debt problem: a longer-run perspective 0 0 5 18 0 0 7 41
The borrowed-reserves operating procedures: theory and evidence 0 0 1 65 0 0 1 384
The case for "inflation first" monetary policy 0 0 1 2 1 1 4 21
The codification of an FOMC procedure 0 0 0 8 0 1 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 0 0 3 43 0 2 7 203
The discount rate and market interest rates: theory and evidence 0 0 0 68 0 0 0 872
The discount rate and market interest rates: what's the connection? 0 0 0 43 0 0 1 138
The discount rate, interest rates and foreign exchange rates: an analysis with daily data 0 0 0 35 0 0 3 240
The downside of quantitative easing 0 0 4 62 1 1 12 122
The dual mandate: has the Fed changed its objective? 0 0 1 5 2 4 6 32
The dynamic relationship between the federal funds rate and the Treasury bill rate: An empirical investigation 0 1 3 260 0 1 7 1,025
The effect of monetary policy on short-term interest rates 0 1 5 91 0 4 13 399
The effect of the Fed’s purchase of long-term treasuries on the yield curve 0 1 2 27 1 2 6 79
The effect of unanticipated money on the money and foreign exchange markets 0 0 0 16 1 1 3 55
The effect of underreporting on LIBOR rates 0 0 5 25 1 4 17 79
The effectiveness of unconventional monetary policy: the term auction facility 0 2 5 25 1 6 17 105
The efficacy of monetary policy: a tale from two decades 0 0 2 9 0 0 6 21
The efficacy of the FOMC’s zero interest rate policy 0 0 0 6 0 0 2 23
The efficient market hypothesis and identification in structural VARs 0 0 2 160 1 2 6 860
The empirical significance of the real balance effect 0 0 0 9 1 2 3 29
The exceptional 1990s 0 0 2 6 0 0 3 42
The expectation hypothesis of the term structure of very short-term rates: Statistical tests and economic value 0 0 5 176 2 3 20 612
The expected federal budget surplus: how much confidence should the public and policymakers place in the projections? 0 0 0 58 1 2 3 416
The federal debt: too little revenue or too much spending 0 0 2 20 1 2 8 52
The federal debt: what’s the source of the increase in spending? 0 0 1 15 0 0 5 38
The federal funds and long-term rates 0 0 0 23 0 2 3 65
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 1 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 0 0 3 116
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 7 26 145
The macroeconomic effects of deficit spending: a review 1 3 4 177 7 12 21 1,152
The monetary policy transmission mechanism? 0 0 5 55 0 0 7 105
The monetary-fiscal policy debate and the Andersen-Jordan equation 0 0 0 56 1 1 7 673
The monetary/fiscal policy debate: a controlled experiment 0 0 0 57 0 0 1 264
The multiplier approach to the money supply process: a precautionary note 0 1 9 368 3 9 61 2,183
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 2 4 12 2,043
Verbal guidance and the efficacy of forward guidance 0 0 2 16 1 2 8 36
Walter Bagehot, the discount window, and TAF 0 0 0 21 1 1 4 49
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 0 1 3 29
What does the change in the FOMC's statement of objectives mean? 0 0 0 4 1 1 3 26
What the Libor-OIS spread says 2 7 22 342 4 19 65 751
What's Unique About the Federal Funds Rate? Evidence from a Spectral Perspective 0 0 0 28 1 1 3 150
Which comes first: inflation or the FOMC's funds rate target? 0 0 0 4 1 2 4 20
Why Do T-Bill Rates React to Discount Rate Changes? 0 0 0 77 1 3 18 1,126
Why does velocity matter? 0 0 3 25 2 8 24 108
Why is employment growth so low? 1 1 8 45 2 3 18 86
Why is output growth so slow? 0 0 0 4 0 0 4 14
Withering dissents 0 0 0 1 0 0 0 31
Would QE2 have a significant effect on economic growth, employment, or inflation? 0 2 4 78 1 4 11 159
Would quantitative easing sooner have tempered the financial crisis and economic recession? 0 0 2 95 1 1 4 181
Total Journal Articles 13 41 263 8,554 108 279 1,114 36,309


Statistics updated 2016-02-03