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 1 184 1 1 9 492
A dynamic factor analysis of the response of U. S. interest rates to news 0 0 0 137 0 1 5 419
A new federal funds rate target series: September 27, 1982, - December 31, 1993 0 0 1 52 0 0 2 255
A note on the expectations hypothesis at the founding of the Fed 0 0 2 82 0 1 6 299
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 0 0 4 87
An Evaluation of Event-Study Evidence on the Effectiveness of the FOMC’s LSAP Program: Are the Announcement Effects Identified? 1 5 19 19 2 6 20 20
Asymmetry in the prime rate and firms' preference for internal finance 0 0 0 78 0 1 6 726
Complete results for lag length selection 0 0 0 45 0 3 4 112
Discount rate changes and the foreign exchange market 0 0 1 27 0 2 4 168
Discount rate policies of five Federal Reserve Chairmen 0 0 2 171 0 0 7 1,592
Do bank loan rates exhibit a countercyclical mark-up? 0 1 4 105 0 5 14 409
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 2 4 20 64 5 14 80 159
Federal Funds Rate Prediction 0 0 0 13 0 3 15 67
Federal Funds Rate Prediction 0 0 0 196 0 2 8 1,844
Federal Funds Rate Prediction 0 0 1 478 0 8 14 6,348
Federal funds rate prediction 0 0 0 312 2 3 7 1,459
Forecasting the Treasury's balance at the Fed 0 1 2 73 1 4 7 308
Greenspan’s conundrum and the Fed’s ability to affect long-term yields 0 1 7 36 3 9 43 84
How did we get to inflation targeting and where do we go now? a perspective from the U.S. experience 0 0 0 45 0 1 5 113
How effective is central bank forward guidance? 0 4 32 72 6 26 118 168
Identifying the liquidity effect: the case of nonborrowed reserves 0 0 0 72 0 1 7 473
Lag length selection and Granger causality 0 0 7 303 1 3 30 637
Lag-length selection criteria: empirical results from the St. Louis equation 0 0 0 58 0 0 4 138
Lifting the veil of secrecy from monetary policy: evidence from the Fed's early discount rate policy 0 0 2 43 0 0 6 322
Monetary policy transparency: transparent about what? 0 0 1 236 0 3 14 563
Monetary policy: why money matters and interest rates don't 0 2 10 171 1 6 24 266
Monetary policy: why money matters, and interest rates don’t 0 3 12 76 2 5 29 55
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 0 7 150 1 3 25 891
Predicting bond excess returns with forward rates: an asset-allocation perspective 0 0 3 39 0 1 13 102
Predictions of short-term rates and the expectations hypothesis 0 1 7 111 0 5 35 208
Predictions of short-term rates and the expectations hypothesis of the term structure of interest rates 1 1 4 154 2 2 11 712
Predictions of short-term rates and the expectations hypothesis of the term structure of interest rates 1 1 7 128 3 4 38 296
Price expectations and the demand for money: a comment 0 0 3 26 0 1 4 66
Resolving the unbiasedness and forward premium puzzles 0 0 1 55 0 0 6 102
Resolving the unbiasedness puzzle in the foreign exchange market 0 1 6 25 2 4 12 71
Revisiting the predictability of bond risk premia 0 1 5 64 1 3 17 114
Should consumer expenditures be the scale variable in empirical money demand equations? 0 0 1 21 0 1 7 156
Testing the expectations hypothesis: some new evidence for Japan 0 0 0 56 0 3 9 205
Tests of price sluggishness in the U.K 0 0 1 2 0 0 2 23
Tests of the expectations hypothesis: resolving the Campbell-Shiller paradox 1 1 7 428 6 8 54 1,805
Tests of the expectations hypothesis: resolving the anomalies when the short-term rate is the federal funds rate 0 0 1 121 0 1 6 496
The Andersen-Jordan equation, revisited 0 0 1 21 0 0 5 112
The Dynamic Relationship Between the Federal Funds rate and the Treasury Bill Rate: An Empirical Investigation 0 2 34 505 10 30 195 2,886
The Empirical Failure of the Expectations Hypothesis of the Term Structure of Bond Yields 1 1 1 28 3 4 10 90
The Empirical Failure of the Expectations Hypothesis of the Term Structure of Bond Yields 0 0 5 117 0 1 23 354
The Expectation Hypothesis of the Term Structure of Very Short-Term Rates: Statistical Tests and Economic Value 0 0 6 99 1 4 26 380
The Federal Reserve's operating procedure, nonborrowed reserves, borrowed reserves and the liquidity effect 1 1 5 320 2 2 12 2,126
The Federal Reserve’s response to the financial crisis: what it did and what it should have done 0 3 16 130 2 11 50 99
The Phillips Curve and US Monetary Policy: What the FOMC Transcripts Tell Us 0 0 3 4 1 2 11 29
The Phillips curve and US monetary policy: what the FOMC transcripts tell us 2 2 7 66 3 9 35 179
The appropriate autocorrelation transformation when the autocorrelation process has a finite past 0 0 0 28 0 0 2 181
The appropriate interest rate and scale variable in money demand: results from non-nested tests 0 0 0 25 0 0 2 525
The budget constraint, endogenous money and the relative importance of fiscal policy under alternative financing schemes 0 0 0 13 0 0 3 74
The daily and policy-relevant liquidity effects 0 0 1 21 0 0 4 63
The daily and policy-relevant liquidity effects 0 0 1 23 0 0 4 71
The daily liquidity effect 0 1 4 74 1 4 23 414
The dynamic relationship between the federal funds rate and the Treasury bill rate: an empirical investigation 0 0 5 510 0 8 85 2,019
The effect of underreporting on LIBOR rates 1 2 14 21 4 9 45 61
The effectiveness of unconventional monetary policy: the term auction facility 0 0 3 38 1 3 25 86
The efficient market hypothesis and identification in structural VARs 0 0 1 248 0 0 9 848
The empirical failure of the expectations hypothesis of the term structure of bond yields 1 2 7 366 3 9 23 749
The expectation hypothesis of the term structure of very short-term rates: statistical tests and economic value 0 1 6 208 1 2 23 635
The identification of the response of interest rates to monetary policy actions using market-based measures of monetary policy shocks 0 2 4 47 0 4 15 99
The information content of discount rate announcements: what's behind the announcement effect? 0 0 1 82 1 1 7 735
The market's reaction to discount changes: what's behind the announcement effect? 0 0 0 39 1 1 7 371
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 7 75 4 9 91 813
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 2 259 0 0 11 1,698
The unusual behavior of the federal funds and 10-year Treasury rates: a conundrum or Goodhart’s Law? 0 0 3 99 0 1 8 395
Unanticipated money and the anticipated liquidity effect: some further evidence 1 1 1 14 1 2 2 104
Weighted monetary aggregates as intermediate targets 0 0 1 10 0 0 4 38
What do Almon's endpoint constraints constrain? 0 0 0 11 0 0 3 83
What's Unique About the Federal Funds Rate? Evidence from a Spectral Perspective 0 0 0 0 0 0 2 2
What's unique about the federal funds rate? evidence from a spectral perspective 0 1 2 113 0 1 8 540
When did the FOMC begin targeting the federal funds rate? what the verbatim transcripts tell us 0 0 3 94 2 5 24 549
Why do T-bill rates react to discount rate changes? 0 0 1 62 0 0 8 866
Why do market interest rates respond to money announcements? 0 0 4 30 0 0 5 206
Total Working Papers 13 46 326 8,374 80 266 1,542 41,461


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 2 4 69
A history of the asymmetric policy directive 0 1 3 77 0 1 5 292
A note on the efficiency of the cochrane-orcutt estimator of the ar(1) regression model 0 0 2 24 0 0 7 66
A note on the expectations hypothesis at the founding of the Fed 0 0 0 18 2 4 7 79
A perspective on possible Fed exit strategies 0 1 8 8 0 2 10 10
A perspective on the current recession: it's not the "worst case" yet 0 0 1 21 7 8 11 70
A primer on cointegration with an application to money and income 4 6 25 931 5 11 61 1,818
A primer on the mortgage market and mortgage finance 1 2 11 185 2 3 23 506
A proposal for improving forward guidance 0 3 15 16 0 3 30 35
Alternative measures of the monetary base: what are the differences and are they important? 0 0 1 20 0 0 5 187
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 2 180
Are Virtual “Currencies” Likely to Succeed? 0 1 3 3 0 1 5 5
Are weighted monetary aggregates better than simple-sum M1? 0 0 0 21 0 0 0 72
Can the FOMC increase the funds rate without reducing reserves? 0 0 0 2 0 0 1 9
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 1 1
Comments on "Modeling money demand in large industrial countries: Buffer stock and error correction approaches" 0 0 0 5 0 0 2 32
Core versus headline inflation again 0 0 1 12 0 0 3 22
Core versus headline inflation: an opportunity for greater transparency 0 0 1 4 0 0 2 12
Discount rate changes and the foreign exchange market 0 0 0 19 0 1 14 140
Do government deficits matter? 0 0 0 57 0 0 1 266
Does a mild recession imply a weak recovery? 0 0 0 12 0 0 2 44
Does the Fed's new policy of immediate disclosure affect the market? 0 0 0 119 0 0 0 451
Does the economy need more spending now? 0 0 3 3 0 0 12 12
Federal Funds Rate Prediction 0 0 0 0 1 9 27 769
Financial innovation, deregulation and the "credit view" of monetary policy 0 0 5 197 0 0 12 513
Forecasting the Treasury's balance at the Fed 0 0 0 15 0 0 3 168
Greenspan's unconventional view of the long-run inflation/output trade-off 0 0 0 20 1 1 6 76
Has QE been effective? 0 1 2 2 0 1 9 9
Housing and the "R" word 0 0 0 14 0 0 2 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 2 15 1 2 13 46
How effective is monetary policy? 0 0 1 33 1 1 3 81
How good are the government’s deficit and debt projections and should we care? 0 0 2 18 0 1 10 49
How robust are the policy conclusions of the St. Louis equation?: some further evidence 0 0 1 22 0 0 3 78
Identifying the liquidity effect at the daily frequency 0 0 0 82 0 2 4 250
Inflation objective and policy credibility: a potential problem for the FOMC 0 0 2 2 0 2 6 11
Interest rate targets abandoned 0 0 1 6 0 0 2 31
Is nominal GDP targeting a rule policymakers could accept? 0 1 2 2 1 2 7 7
Is the FOMC’s policy inflating asset prices? 0 0 1 2 0 0 4 12
Is the FOMC’s unemployment rate threshold a good idea? 0 0 0 4 0 1 2 7
Is there a case for "moderate" inflation? 0 0 0 10 0 0 1 216
Is there less agreement about inflation? 0 0 4 24 0 1 13 61
Lag-Length Selection and Tests of Granger Causality between Money and Income 2 5 18 482 9 20 80 1,207
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 0 1 15 248
M1 or M2: which is the better monetary target? 0 0 1 23 0 0 10 126
Making monetary policy more transparent 0 0 1 13 0 0 2 46
Market anticipations of monetary policy actions 0 0 2 108 1 5 15 279
Maximum Likelihood Estimates of a Partial Adjustment-Adaptive Expectations Model of the Demand for Money 0 0 2 58 0 0 5 180
Measure for measure: headline versus core inflation 0 0 2 17 1 1 5 57
Monetary anticipations and the demand for money: Reply to MacKinnon and Milbourne 0 0 1 16 0 1 6 82
Monetary policy and longer-term rates: an opportunity for greater transparency 0 0 0 6 1 1 2 16
Monetary policy at the zero bound 0 0 0 11 0 0 4 27
Monetary policy transparency: transparent about what? 0 1 2 38 0 3 8 151
Monetizing the debt 0 1 9 53 0 8 41 129
Monetizing the debt 0 0 0 102 0 1 9 563
Money demand dynamics: some new evidence 0 0 0 33 0 0 2 93
Money in a theory of exchange 0 0 1 112 1 1 6 365
Money, net wealth, and the real-balance effect 0 0 0 5 0 0 1 53
Negating the inflation potential of the Fed's lending programs 0 0 0 10 0 0 3 38
Nominal interest rates: less than zero? 0 0 2 101 0 1 24 574
On the informational content of spot and forward exchange rates 1 1 1 15 1 3 5 46
Open market operations and the federal funds rate 0 0 7 86 0 0 19 344
Out-of-Sample Predictions of Bond Excess Returns and Forward Rates: An Asset Allocation Perspective 0 1 4 8 2 4 14 22
Personal saving and economic growth 0 0 2 28 0 0 6 66
Polynomial distributed lags and the estimation of the St. Louis equation 1 1 2 38 2 3 8 110
Predictability and effectiveness of monetary policy 0 0 1 28 1 1 5 65
Price Expectations and the Demand for Money: A Comment 0 0 1 21 0 0 3 93
Public officials and job creation 0 0 0 4 0 0 2 33
QE: is there a portfolio balance effect? 0 0 1 1 1 3 10 10
Quantitative easing and money growth: potential for higher inflation? 1 2 11 34 1 3 22 69
Simple analytics of the money supply process and monetary control 0 0 1 44 0 1 4 179
Social security, saving, and wealth accumulation 0 0 0 10 1 2 4 42
Solving the 1980s' velocity puzzle: a progress report 1 1 2 44 1 2 7 254
Subprime side effects in the federal funds market 0 0 0 35 0 0 1 90
Targeting M2: the issue of monetary control 0 0 0 14 0 0 5 117
Tax rates and revenue since the 1970s 0 0 0 5 0 0 4 17
Testing the Expectations Hypothesis: Some New Evidence for Japan 0 0 0 13 0 0 5 90
Testing the expectations hypothesis: some new evidence for Japan 0 0 1 52 0 0 5 206
Tests of covered interest rate parity 2 2 4 353 4 7 27 1,661
Tests of the Expectations Hypothesis: Resolving the Campbell-Shiller Paradox 0 0 3 36 1 3 22 158
Tests of the expectations hypothesis: Resolving the anomalies when the short-term rate is the federal funds rate 0 0 0 30 2 2 13 123
Tests of the market's reaction to federal funds rate target changes 0 0 8 252 0 0 30 961
The Andersen-Jordan equation revisited 0 1 3 16 0 1 3 82
The Empirical Failure of the Expectations Hypothesis of the Term Structure of Bond Yields 1 1 2 49 3 5 18 141
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 1 32
The FOMC's balance-of-risks statement and market expectations of policy actions 0 0 3 64 0 1 12 547
The FOMC’s interest rate policy: how long is the long run? 0 0 1 5 0 0 2 10
The FOMC’s “considerable period” 0 0 1 21 1 1 9 105
The Fed and short-term rates: Is it open market operations, open mouth operations or interest rate smoothing? 0 1 8 89 1 2 17 250
The Fed's inflation objective 0 0 0 28 0 0 4 68
The Fed, liquidity, and credit allocation 0 0 0 73 3 5 13 218
The Federal Reserve's operating procedure, nonborrowed reserves, borrowed reserves and the liquidity effect 1 1 7 165 1 4 35 657
The Information Content of the Federal Funds Rate: Is It Unique? 0 0 0 44 2 4 10 418
The Phillips curve and US monetary policy: what the FOMC transcripts tell us 0 1 9 24 2 7 33 119
The U.S. deficit/debt problem: a longer-run perspective 0 0 8 13 0 0 16 31
The borrowed-reserves operating procedures: theory and evidence 0 0 0 63 0 1 5 381
The case for "inflation first" monetary policy 0 0 0 1 1 1 2 16
The codification of an FOMC procedure 0 0 0 8 0 0 1 52
The cost of checkable deposits in the United States 0 0 0 33 0 1 9 533
The costs and benefits of price stability: an assessment of Howitt's rule 0 0 0 40 1 1 11 194
The discount rate and market interest rates: theory and evidence 0 0 0 68 0 0 2 872
The discount rate and market interest rates: what's the connection? 0 0 0 41 0 1 2 135
The discount rate, interest rates and foreign exchange rates: an analysis with daily data 0 0 0 35 0 3 12 234
The downside of quantitative easing 0 0 7 58 0 0 17 108
The dual mandate: has the Fed changed its objective? 0 1 1 4 1 4 9 24
The dynamic relationship between the federal funds rate and the Treasury bill rate: An empirical investigation 1 3 8 254 2 5 23 1,012
The effect of monetary policy on short-term interest rates 1 1 7 85 1 2 33 379
The effect of the Fed’s purchase of long-term treasuries on the yield curve 0 0 1 25 1 4 11 72
The effect of unanticipated money on the money and foreign exchange markets 1 2 2 16 1 2 4 52
The effect of underreporting on LIBOR rates 0 2 14 16 2 10 43 50
The effectiveness of unconventional monetary policy: the term auction facility 0 1 1 19 1 3 15 84
The efficacy of monetary policy: a tale from two decades 0 0 4 7 0 0 8 14
The efficacy of the FOMC’s zero interest rate policy 0 0 2 6 0 2 10 19
The efficient market hypothesis and identification in structural VARs 0 0 1 158 0 1 6 851
The empirical significance of the real balance effect 0 0 2 9 0 0 3 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 0 28 166 2 6 72 566
The expected federal budget surplus: how much confidence should the public and policymakers place in the projections? 0 0 2 58 0 1 5 412
The federal debt: too little revenue or too much spending 1 1 4 18 1 1 11 43
The federal debt: what’s the source of the increase in spending? 0 0 4 14 0 2 12 32
The federal funds and long-term rates 0 0 0 21 0 0 2 59
The funds rate target and interest rates 0 0 1 4 2 2 6 34
The golden dollar: the early evidence 0 0 0 3 0 1 4 42
The government budget constraint with endogenous money 0 0 1 15 0 0 4 40
The importance of an asymmetric directive 0 0 0 29 0 0 1 111
The link between M1 and the monetary base in the 198O's 0 0 0 49 0 0 1 418
The lower and upper bounds of the Federal Open Market Committee's long-run inflation objective 0 0 1 17 0 1 17 113
The macroeconomic effects of deficit spending: a review 0 1 8 170 1 4 41 1,118
The monetary policy transmission mechanism? 1 1 2 49 5 5 9 96
The monetary-fiscal policy debate and the Andersen-Jordan equation 0 0 0 55 1 1 5 665
The monetary/fiscal policy debate: a controlled experiment 0 0 1 57 0 0 6 262
The multiplier approach to the money supply process: a precautionary note 1 2 21 355 4 9 91 2,092
The relationship between the daily and policy-relevant liquidity effects 0 0 2 8 0 1 7 56
Using federal funds futures rates to predict Federal Reserve actions 0 0 1 380 0 0 6 2,027
Verbal guidance and the efficacy of forward guidance 0 0 10 13 0 0 15 26
Walter Bagehot, the discount window, and TAF 0 0 0 20 0 0 4 44
What accounts for the reduced frequency of Fed actions? 0 0 0 6 1 1 8 89
What caused long-term rates to rise? 0 0 1 6 0 0 7 26
What does the change in the FOMC's statement of objectives mean? 0 0 0 4 0 0 2 23
What the Libor-OIS spread says 1 3 27 316 5 14 67 665
What's Unique About the Federal Funds Rate? Evidence from a Spectral Perspective 0 0 1 27 0 1 7 145
Which comes first: inflation or the FOMC's funds rate target? 0 0 1 4 0 0 2 15
Why Do T-Bill Rates React to Discount Rate Changes? 0 0 1 77 0 0 3 1,096
Why does velocity matter? 0 0 1 22 2 2 6 84
Why is employment growth so low? 3 4 11 33 5 6 21 63
Why is output growth so slow? 0 0 2 4 0 0 4 10
Withering dissents 0 1 1 1 2 3 4 31
Would QE2 have a significant effect on economic growth, employment, or inflation? 1 1 3 73 2 5 12 147
Would quantitative easing sooner have tempered the financial crisis and economic recession? 0 0 7 93 1 1 13 176
Total Journal Articles 26 60 424 8,160 109 274 1,673 34,690


Statistics updated 2014-09-03