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 0 189 1 3 4 529
A dynamic factor analysis of the response of U. S. interest rates to news 0 0 0 143 3 5 9 456
A new federal funds rate target series: September 27, 1982, - December 31, 1993 0 0 2 76 1 5 11 455
A note on the expectations hypothesis at the founding of the Fed 0 0 0 83 2 5 9 332
A note on the relative efficiency of the Cochrane-Orcutt and OLS estimators when the autocorrelation process has a finite past 0 0 0 19 1 4 8 119
An Evaluation of Event-Study Evidence on the Effectiveness of the FOMC’s LSAP Program: Are the Announcement Effects Identified? 0 0 0 46 5 6 8 124
Asymmetry in the prime rate and firms' preference for internal finance 0 0 0 85 3 4 8 771
Complete results for lag length selection 0 0 0 49 2 2 4 129
Discount rate changes and the foreign exchange market 0 0 0 28 2 6 8 192
Discount rate policies of five Federal Reserve Chairmen 0 0 0 180 2 2 4 1,637
Do bank loan rates exhibit a countercyclical mark-up? 0 0 1 124 2 5 13 494
Endpoint constraints and the St. Louis equation: a clarification 0 0 0 28 1 2 3 86
Evidence on the portfolio balance channel of quantitative easing 0 1 2 147 10 22 26 513
Federal Funds Rate Prediction 0 0 0 482 2 11 13 6,442
Federal Funds Rate Prediction 0 0 0 207 4 5 8 1,936
Federal funds rate prediction 0 0 0 329 4 8 13 1,557
Forecasting the Treasury's balance at the Fed 0 1 1 75 1 3 11 342
Greenspan’s conundrum and the Fed’s ability to affect long-term yields 1 1 2 72 9 23 30 302
How Effective Is Central Bank Forward Guidance? 0 0 0 97 4 8 8 87
How Effective Is Central Bank Forward Guidance? 0 0 0 108 10 12 14 392
How did we get to inflation targeting and where do we go now? a perspective from the U.S. experience 0 0 0 53 3 5 6 168
How effective is central bank forward guidance? 0 0 0 115 3 7 10 343
Identifying the liquidity effect: the case of nonborrowed reserves 0 0 0 85 3 4 7 515
Lag length selection and Granger causality 0 0 0 315 1 1 5 682
Lag-length selection criteria: empirical results from the St. Louis equation 0 1 1 65 5 6 11 171
Lifting the veil of secrecy from monetary policy: evidence from the Fed's early discount rate policy 0 0 0 45 3 6 10 355
Monetary policy transparency: transparent about what? 0 0 0 243 3 6 10 616
Monetary policy: why money matters and interest rates don't 0 0 0 182 2 3 3 348
Monetary policy: why money matters, and interest rates don’t 0 0 0 100 3 3 9 177
On the treatment of the weighted initial observation in the AR(1) regression model 0 0 0 2 2 3 6 48
Open market operations and the federal funds rate 0 0 0 158 3 9 14 953
Predicting bond excess returns with forward rates: an asset-allocation perspective 0 0 0 53 1 1 5 147
Predictions of short-term rates and the expectations hypothesis 0 0 0 141 2 4 4 326
Predictions of short-term rates and the expectations hypothesis of the term structure of interest rates 0 1 1 161 1 6 7 769
Predictions of short-term rates and the expectations hypothesis of the term structure of interest rates 0 1 4 162 9 24 35 495
Price expectations and the demand for money: a comment 0 0 0 29 2 4 6 90
Resolving the unbiasedness and forward premium puzzles 0 0 0 60 3 4 6 130
Resolving the unbiasedness puzzle in the foreign exchange market 0 0 0 30 7 11 14 111
Revisiting the predictability of bond risk premia 0 0 0 71 4 4 5 177
Should consumer expenditures be the scale variable in empirical money demand equations? 0 0 0 22 3 6 7 174
Testing the expectations hypothesis: some new evidence for Japan 0 0 0 57 1 2 13 287
Tests of price sluggishness in the U.K 0 0 0 2 0 1 3 32
Tests of the expectations hypothesis: resolving the Campbell-Shiller paradox 1 1 1 446 9 13 19 1,917
Tests of the expectations hypothesis: resolving the anomalies when the short-term rate is the federal funds rate 0 0 0 127 4 7 14 535
The Andersen-Jordan equation, revisited 0 0 0 23 0 1 4 132
The Dynamic Relationship Between the Federal Funds rate and the Treasury Bill Rate: An Empirical Investigation 0 0 0 564 8 10 10 3,182
The Empirical Failure of the Expectations Hypothesis of the Term Structure of Bond Yields 0 1 1 126 2 8 13 439
The Expectation Hypothesis of the Term Structure of Very Short-Term Rates: Statistical Tests and Economic Value 0 0 0 108 4 6 9 467
The Federal Reserve's operating procedure, nonborrowed reserves, borrowed reserves and the liquidity effect 0 0 0 332 5 6 8 2,190
The Federal Reserve’s response to the financial crisis: what it did and what it should have done 0 0 0 166 2 5 20 248
The Phillips Curve and US Monetary Policy: What the FOMC Transcripts Tell Us 0 0 0 13 1 4 7 94
The Phillips curve and US monetary policy: what the FOMC transcripts tell us 0 0 0 85 3 8 11 267
The appropriate autocorrelation transformation when the autocorrelation process has a finite past 0 0 0 30 2 2 5 198
The appropriate interest rate and scale variable in money demand: results from non-nested tests 0 0 0 25 0 0 2 538
The budget constraint, endogenous money and the relative importance of fiscal policy under alternative financing schemes 0 0 0 13 0 2 4 87
The daily and policy-relevant liquidity effects 0 0 0 24 2 3 6 105
The daily and policy-relevant liquidity effects 0 0 0 25 5 7 8 113
The daily liquidity effect 0 0 0 83 4 8 10 469
The dynamic relationship between the federal funds rate and the Treasury bill rate: an empirical investigation 0 0 0 527 1 6 13 2,144
The effect of underreporting on LIBOR rates 0 0 1 38 2 3 7 156
The effectiveness of unconventional monetary policy: the term auction facility 0 0 0 57 1 5 7 176
The efficient market hypothesis and identification in structural VARs 0 0 0 253 4 8 11 895
The empirical failure of the expectations hypothesis of the term structure of bond yields 0 0 0 383 2 4 7 822
The expectation hypothesis of the term structure of very short-term rates: statistical tests and economic value 0 0 0 222 0 2 3 752
The expectations theory and the founding of the fed: another look at the evidence 0 0 0 30 3 6 9 191
The identification of the response of interest rates to monetary policy actions using market-based measures of monetary policy shocks 0 0 2 68 1 5 11 245
The information content of discount rate announcements: what's behind the announcement effect? 0 0 0 86 1 4 6 790
The market's reaction to discount changes: what's behind the announcement effect? 0 0 0 39 2 3 7 386
The real-balance effect with resource-using money: a capital-theoretic interpretation 0 0 0 1 0 1 3 50
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 88 5 8 13 982
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 0 269 2 5 6 1,758
The unusual behavior of the federal funds and 10-year Treasury rates: a conundrum or Goodhart’s Law? 0 0 1 109 4 5 6 448
Unanticipated money and the anticipated liquidity effect: some further evidence 0 0 0 17 0 1 4 119
Weighted monetary aggregates as intermediate targets 0 0 0 11 1 2 5 56
What do Almon's endpoint constraints constrain? 0 0 0 15 3 3 5 119
What's unique about the federal funds rate? evidence from a spectral perspective 0 0 0 114 3 3 5 583
When did the FOMC begin targeting the federal funds rate? what the verbatim transcripts tell us 0 0 3 129 6 11 20 720
Why do T-bill rates react to discount rate changes? 0 0 0 67 0 0 3 897
Why do market interest rates respond to money announcements? 0 0 0 35 1 2 3 228
Total Working Papers 2 8 23 9,466 226 438 712 47,507

Journal Article File Downloads Abstract Views
Last month 3 months 12 months Total Last month 3 months 12 months Total
A history of the asymmetric policy directive 0 0 3 87 6 7 14 332
A note on the efficiency of the cochrane-orcutt estimator of the ar(1) regression model 0 0 0 35 2 3 5 103
A note on the expectations hypothesis at the founding of the Fed 0 0 0 21 4 4 4 107
A perspective on possible Fed exit strategies 0 0 0 24 2 3 3 58
A perspective on the current recession: it's not the \\"worst case\\" yet 0 0 0 24 1 2 3 91
A primer on cointegration with an application to money and income 0 0 1 993 4 6 11 2,043
A primer on the mortgage market and mortgage finance 1 2 6 215 2 4 14 628
A proposal for improving forward guidance 0 0 0 28 2 3 4 76
Alternative measures of the monetary base: what are the differences and are they important? 0 0 0 22 2 2 3 207
Alternative policy weapons? 0 0 0 2 0 0 2 40
An early look at the volatility of money and interest rates under CRR 0 0 0 8 2 5 7 58
An experiment is underway 0 0 0 3 2 3 3 57
An extended series of divisia monetary aggregates 0 0 0 42 4 5 6 209
Are Virtual “Currencies” Likely to Succeed? 0 0 1 20 1 1 3 61
Are weighted monetary aggregates better than simple-sum M1? 0 0 0 26 1 2 5 102
Can the FOMC increase the funds rate without reducing reserves? 0 0 0 4 0 0 2 27
Channels of monetary policy. Proceedings of the Nineteenth Annual Economic Policy Conference held October 20-21, 1994 0 0 0 0 4 5 6 173
Channels of monetary policy. Proceedings of the Nineteenth Annual Economic Policy Conference held October 20-21, 1994 0 0 0 1 5 7 7 62
Channels of monetary policy: conference introduction 0 0 0 1 1 1 3 18
Channels of monetary policy: conference introduction 0 0 0 14 1 2 2 66
Comments on "Modeling money demand in large industrial countries: Buffer stock and error correction approaches" 0 0 0 5 1 2 2 41
Core versus headline inflation again 0 0 0 18 0 0 1 44
Core versus headline inflation: an opportunity for greater transparency 0 0 0 9 1 2 2 43
Discount rate changes and the foreign exchange market 0 0 0 22 0 6 9 224
Do government deficits matter? 0 0 0 59 1 2 2 285
Does a mild recession imply a weak recovery? 0 0 1 15 0 0 2 66
Does the Fed's new policy of immediate disclosure affect the market? 0 0 0 125 1 4 5 482
Does the economy need more spending now? 0 0 0 3 2 2 3 35
Effectiveness of QE: An assessment of event-study evidence 1 1 2 100 3 4 8 318
Federal Funds Rate Prediction 0 0 0 0 2 2 7 846
Financial innovation, deregulation and the \\"credit view\\" of monetary policy 0 0 0 207 1 2 4 564
Forecasting the Treasury's balance at the Fed 0 0 0 17 1 5 6 188
Further Evidence on Greenspan’s Conundrum 1 1 2 10 10 25 29 53
Greenspan's Conundrum and the Fed's Ability to Affect Long‐Term Yields 1 1 2 12 10 18 28 75
Greenspan's unconventional view of the long-run inflation/output trade-off 0 0 0 23 3 4 6 98
Guest editor's introduction: What monetary policy can and cannot do 0 0 0 9 1 3 4 48
Has QE been effective? 0 0 0 60 2 4 5 158
Housing and the \"R\" word 0 0 0 15 0 0 1 49
How Effective Is Central Bank Forward Guidance? 1 1 2 76 3 5 12 310
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 22 2 4 6 99
How effective is monetary policy? 0 0 0 40 1 2 2 118
How good are the government’s deficit and debt projections and should we care? 0 0 3 32 3 4 11 100
How robust are the policy conclusions of the St. Louis equation?: some further evidence 0 0 0 25 3 7 8 111
Identifying the liquidity effect at the daily frequency 0 1 2 92 4 6 10 295
Inflation objective and policy credibility: a potential problem for the FOMC 0 0 0 2 0 0 0 18
Interest rate targets abandoned 0 0 0 7 3 6 6 50
Is nominal GDP targeting a rule policymakers could accept? 0 0 0 13 2 3 4 49
Is the FOMC’s policy inflating asset prices? 0 0 0 5 2 2 4 27
Is the FOMC’s unemployment rate threshold a good idea? 0 0 0 5 1 1 1 18
Is there a case for \\"moderate\\" inflation? 0 0 1 14 0 1 3 230
Is there less agreement about inflation? 0 0 0 28 2 3 4 89
Lag-Length Selection and Tests of Granger Causality between Money and Income 0 0 1 563 3 4 7 1,443
Lagged and contemporaneous reserve accounting: an alternative view 0 0 0 10 0 1 2 89
Lifting the Veil of Secrecy from Monetary Policy: Evidence from the Fed's Early Discount Rate Policy 0 0 0 0 3 4 6 276
M1 or M2: which is the better monetary target? 0 0 0 24 1 5 5 146
Making monetary policy more transparent 0 0 0 15 1 1 1 60
Making sense of dissents: a history of FOMC dissents 1 3 13 48 14 64 104 283
Market anticipations of monetary policy actions 0 3 6 130 7 16 23 380
Maximum Likelihood Estimates of a Partial Adjustment-Adaptive Expectations Model of the Demand for Money 0 0 1 63 2 3 4 204
Measure for measure: headline versus core inflation 0 0 0 24 6 6 8 92
Monetary anticipations and the demand for money: Reply to MacKinnon and Milbourne 0 0 0 19 3 4 6 114
Monetary policy and longer-term rates: an opportunity for greater transparency 0 0 1 10 1 3 5 37
Monetary policy at the zero bound 0 0 0 12 1 1 2 45
Monetary policy transparency: transparent about what? 0 0 0 42 0 5 8 195
Monetary policy: Why money matters (and interest rates don’t) 0 0 3 66 7 10 15 240
Monetizing the debt 0 1 4 120 3 8 17 643
Monetizing the debt 0 1 6 108 6 15 22 336
Money demand dynamics: some new evidence 0 0 0 36 2 7 7 118
Money in a theory of exchange 0 0 0 125 5 12 26 535
Money, net wealth, and the real-balance effect 0 0 0 6 1 1 3 69
Negating the inflation potential of the Fed's lending programs 0 0 0 10 2 3 4 57
Nominal interest rates: less than zero? 0 0 0 126 1 3 3 623
On the informational content of spot and forward exchange rates 0 0 0 18 0 0 0 74
Open market operations and the federal funds rate 0 0 0 101 3 5 5 419
Out-of-Sample Predictions of Bond Excess Returns and Forward Rates: An Asset Allocation Perspective 0 0 0 34 2 2 3 120
Personal saving and economic growth 0 0 1 70 0 0 1 161
Polynomial distributed lags and the estimation of the St. Louis equation 0 0 0 40 0 4 8 145
Predictability and effectiveness of monetary policy 0 0 0 32 1 1 3 81
Predictions of short-term rates and the expectations hypothesis 0 0 0 22 6 12 15 100
Price Expectations and the Demand for Money: A Comment 0 0 0 22 1 2 4 112
Public officials and job creation 0 0 0 8 2 2 2 66
QE: is there a portfolio balance effect? 0 0 1 80 3 16 22 471
Quantitative easing and money growth: potential for higher inflation? 0 0 0 53 2 2 2 111
Resolving the unbiasedness and forward premium puzzles 0 0 0 5 2 5 8 26
Simple analytics of the money supply process and monetary control 0 0 0 51 0 4 4 239
Social security, saving, and wealth accumulation 0 0 0 18 0 0 0 57
Solving the 1980s' velocity puzzle: a progress report 0 0 0 52 3 5 6 298
Subprime side effects in the federal funds market 0 0 0 36 2 3 4 110
Targeting M2: the issue of monetary control 1 1 1 16 2 2 6 134
Tax rates and revenue since the 1970s 0 0 0 6 3 5 5 40
Testing the Expectations Hypothesis: Some New Evidence for Japan 0 0 0 14 3 4 4 128
Testing the expectations hypothesis: some new evidence for Japan 0 0 0 55 1 3 4 244
Tests of covered interest rate parity 0 0 1 388 2 2 6 1,804
Tests of the Expectations Hypothesis: Resolving the Campbell-Shiller Paradox 0 0 0 48 2 3 7 233
Tests of the expectations hypothesis: Resolving the anomalies when the short-term rate is the federal funds rate 0 0 0 36 3 5 5 166
Tests of the market's reaction to federal funds rate target changes 0 1 7 299 4 7 17 1,132
The Andersen-Jordan equation revisited 0 0 0 17 1 3 6 106
The Empirical Failure of the Expectations Hypothesis of the Term Structure of Bond Yields 0 0 0 66 5 32 36 303
The FOMC in 1981: monetary control in a changing financial environment 0 0 0 5 2 2 2 45
The FOMC in 1982: de-emphasizing M1 0 0 0 5 0 0 1 51
The FOMC's balance-of-risks statement and market expectations of policy actions 0 0 1 70 5 10 14 618
The FOMCs considerable period 0 0 0 22 3 5 7 142
The FOMC’s interest rate policy: how long is the long run? 0 0 0 5 1 1 1 31
The Fed and short-term rates: Is it open market operations, open mouth operations or interest rate smoothing? 0 0 0 99 1 5 6 302
The Fed's inflation objective 0 0 0 32 2 3 3 87
The Fed, liquidity, and credit allocation 0 0 0 78 4 8 10 350
The Federal Reserve's operating procedure, nonborrowed reserves, borrowed reserves and the liquidity effect 0 0 2 176 3 3 7 752
The Information Content of the Federal Funds Rate: Is It Unique? 0 0 0 45 4 8 10 456
The Phillips curve and US monetary policy: what the FOMC transcripts tell us 0 0 0 43 4 8 9 226
The U.S. deficit/debt problem: a longer-run perspective 0 0 0 19 5 7 10 82
The borrowed-reserves operating procedures: theory and evidence 0 0 0 72 3 6 11 433
The case for \\"inflation first\\" monetary policy 0 0 0 3 0 1 1 35
The codification of an FOMC procedure 0 0 0 8 2 2 2 65
The cost of checkable deposits in the United States 0 0 0 34 1 3 6 566
The costs and benefits of price stability: an assessment of Howitt's rule 0 0 1 56 3 3 8 269
The discount rate and market interest rates: theory and evidence 0 0 3 75 3 5 10 902
The discount rate and market interest rates: what's the connection? 0 1 1 49 1 4 5 174
The discount rate, interest rates and foreign exchange rates: an analysis with daily data 0 0 2 44 0 4 19 298
The downside of quantitative easing 0 0 1 99 1 2 4 226
The dual mandate: has the Fed changed its objective? 0 1 3 26 4 9 15 99
The dynamic relationship between the federal funds rate and the Treasury bill rate: An empirical investigation 0 0 0 284 3 6 8 1,127
The effect of monetary policy on short-term interest rates 1 1 3 97 4 7 11 443
The effect of the Fed’s purchase of long-term treasuries on the yield curve 0 0 0 29 4 5 5 100
The effect of unanticipated money on the money and foreign exchange markets 0 0 0 16 4 4 5 74
The effect of underreporting on LIBOR rates 0 1 1 55 2 6 12 221
The effectiveness of unconventional monetary policy: the term auction facility 0 0 0 33 5 6 8 151
The efficacy of monetary policy: a tale from two decades 0 0 0 11 2 2 2 34
The efficacy of the FOMC’s zero interest rate policy 0 0 1 12 2 2 4 39
The efficient market hypothesis and identification in structural VARs 0 0 1 163 3 4 15 905
The empirical significance of the real balance effect 0 0 0 10 2 4 4 43
The exceptional 1990s 0 0 0 7 0 2 3 60
The expectation hypothesis of the term structure of very short-term rates: Statistical tests and economic value 0 1 1 202 3 10 14 711
The expected federal budget surplus: how much confidence should the public and policymakers place in the projections? 0 0 0 68 4 5 7 464
The federal debt: too little revenue or too much spending 0 0 0 26 0 0 0 69
The federal debt: what’s the source of the increase in spending? 0 0 0 15 1 2 2 55
The federal funds and long-term rates 0 0 0 28 1 2 3 93
The financial crisis: what caused it and when and why it ended 0 0 0 4 4 5 9 29
The funds rate target and interest rates 0 0 0 6 5 5 6 65
The golden dollar: the early evidence 0 0 0 3 3 3 3 56
The government budget constraint with endogenous money 0 0 1 21 2 2 5 58
The identification of the response of interest rates to monetary policy actions using market-based measures of monetary policy shocks 0 0 1 39 3 3 4 126
The importance of an asymmetric directive 0 0 1 33 1 1 2 140
The link between M1 and the monetary base in the 198O's 0 0 0 49 4 5 6 495
The lower and upper bounds of the Federal Open Market Committee's long-run inflation objective 0 0 0 20 3 6 9 264
The macroeconomic effects of deficit spending: a review 0 0 0 192 1 2 3 1,229
The monetary policy transmission mechanism? 0 0 0 77 1 1 2 154
The monetary-fiscal policy debate and the Andersen-Jordan equation 0 0 1 65 1 2 7 727
The monetary/fiscal policy debate: a controlled experiment 0 0 0 60 1 2 2 300
The multiplier approach to the money supply process: a precautionary note 0 0 0 380 1 2 4 2,273
The relationship between the daily and policy-relevant liquidity effects 0 0 1 10 5 6 11 83
Using federal funds futures rates to predict Federal Reserve actions 0 6 8 419 8 20 25 2,172
Verbal guidance and the efficacy of forward guidance 0 0 1 21 1 1 2 57
Walter Bagehot, the discount window, and TAF 0 0 0 23 3 4 4 68
What accounts for the reduced frequency of Fed actions? 0 0 0 6 0 1 1 99
What caused long-term rates to rise? 0 0 0 8 1 2 6 42
What does the change in the FOMC's statement of objectives mean? 0 0 1 9 0 1 2 48
What the Libor-OIS spread says 1 1 2 455 5 6 10 1,053
What's Unique About the Federal Funds Rate? Evidence from a Spectral Perspective* 0 0 0 30 2 4 5 179
Which comes first: inflation or the FOMC's funds rate target? 0 0 0 6 2 3 3 35
Why Do T-Bill Rates React to Discount Rate Changes? 0 0 0 77 1 3 9 1,152
Why does velocity matter? 0 0 3 40 2 2 11 178
Why is employment growth so low? 0 0 0 62 0 0 5 137
Why is output growth so slow? 0 0 0 4 0 0 0 24
Withering dissents 0 0 0 2 3 3 3 41
Would QE2 have a significant effect on economic growth, employment, or inflation? 0 0 0 83 0 1 6 190
Would quantitative easing sooner have tempered the financial crisis and economic recession? 0 0 0 98 1 2 3 203
\"Measured pace\" in the conduct of monetary policy 0 0 0 24 0 0 0 85
Total Journal Articles 9 29 113 10,231 389 763 1,195 45,074
1 registered items for which data could not be found

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A Primer on Cointegration with an Application to Money and Income 0 0 0 0 0 2 10 25
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