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Journal Article
Solving the 1980s' velocity puzzle: a progress report
Thornton, Daniel L.; Stone, Courtenay C. (1987-08)
Review , Issue Aug , Pages 5-23

Journal Article
Targeting M2: the issue of monetary control
Thornton, Daniel L. (1992-07)
Review , Issue Jul , Pages 23-35

Journal Article
A history of the asymmetric policy directive
Wheelock, David C.; Thornton, Daniel L. (2000-09)
Review , Volume 82 , Issue Sep , Pages 1-16

Journal Article
The Fed, liquidity, and credit allocation
Thornton, Daniel L. (2009-01)
The current financial turmoil has generated considerable discussion of liquidity. Moreover, it has been widely reported that the Federal Reserve played a major role in supplying liquidity to financial markets during this distressed time. This article describes two ways in which the Fed has supplied liquidity since late 2007. The first is traditional: The Fed supplies liquidity by providing credit through open market operations and by lending to depository institutions at the so-called discount window. The second is by enhancing the liquidity of portfolios of some institutions by replacing ...
Review , Volume 91 , Issue Jan , Pages 13-22

Journal Article
The discount rate, interest rates and foreign exchange rates: an analysis with daily data
Thornton, Daniel L.; Batten, Dallas S. (1985-02)
Review , Volume 67 , Issue Feb , Pages 22-30

Journal Article
The dual mandate: has the Fed changed its objective?
Thornton, Daniel L. (2012-03)
The Federal Reserve is said to have a dual mandate of price stability and full employment. While the Fed has mentioned price stability as one of its primary goals, it has been reluctant to mention employment as a separate policy objective, preferring instead to state that maximum employment could best be achieved by achieving price stability. This hesitance ended with the December 2008 policy directive in which the Federal Open Market Committee (FOMC) noted its objectives were ?maximum employment and price stability.? Operationally equivalent language first appeared in the FOMC?s policy ...
Review , Volume 94 , Issue Mar , Pages 117-134

Journal Article
Social security, saving, and wealth accumulation
Thornton, Daniel L. (2005-05)
National Economic Trends , Issue May

Journal Article
Is there a case for \\"moderate\\" inflation?
Marty, Alvin L.; Thornton, Daniel L. (1995-07)
Review , Issue Jul , Pages 27-38

Journal Article
The link between M1 and the monetary base in the 198O's
Thornton, Daniel L.; Garfinkel, Michelle R. (1989-09)
Review , Issue Sep , Pages 35-52

Journal Article
Testing the expectations hypothesis: some new evidence for Japan
Thornton, Daniel L. (2004-09)
The deregulation of the Japanese financial markets and the adoption of an interest rate policy instrument by the Bank of Japan prompted a number of empirical investigations of the expectation hypothesis (EH) of the term structures of interest rates in Japan. This paper is a continuation of this research. It deviates from the previous work on the EH in Japan in two respects. First, it tests the EH by estimating a general vector autoregression (VAR) of the long-term and short-term rates and testing the restrictions implied by the EH on the VAR using a Lagrange multiplier test. Second, the issue ...
Review , Volume 86 , Issue Sep

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