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Daniel L. Thornton

Daniel L. Thornton

Federal Reserve Bank of St. Louis
United States

Overview

What is he best known for?

The fields of study he is best known for:

  • Statistics
  • Monetary policy
  • Inflation

Daniel L. Thornton spends much of his time researching Monetary economics, Econometrics, Federal funds, Monetary policy and Interest rate. His Econometrics study integrates concerns from other disciplines, such as Statistical hypothesis testing, Divisia monetary aggregates index, Monetary theory and Bond, Yield curve. His Federal funds research incorporates elements of Interbank lending market, Floating rate note and Financial system.

His work on Credit channel and Monetary hegemony as part of general Monetary policy study is frequently linked to Rate change, therefore connecting diverse disciplines of science. Daniel L. Thornton combines subjects such as Interest rate smoothing, Cointegration, Predictability and Unit root with his study of Interest rate. His Quantitative easing study combines topics from a wide range of disciplines, such as Monetary base and Inflation targeting.

His most cited work include:

  • A Primer on Cointegration with an Application to Money and Income (397 citations)
  • Lag-Length Selection and Tests of Granger Causality Between Money and Income (311 citations)
  • Market Anticipations of Monetary Policy Actions (148 citations)

What are the main themes of his work throughout his whole career to date?

His primary scientific interests are in Monetary economics, Monetary policy, Interest rate, Econometrics and Federal funds. Monetary economics is represented through his Credit channel, Monetary hegemony, Monetary base, Quantitative easing and Monetarism research. To a larger extent, Daniel L. Thornton studies Macroeconomics with the aim of understanding Monetary policy.

His Interest rate research includes themes of Predictability and Portfolio. Daniel L. Thornton has researched Econometrics in several fields, including Forward rate, Score test, Bond, Yield curve and Sample. His Federal funds research is multidisciplinary, incorporating perspectives in Actuarial science, Excess reserves, Finance and Financial system.

He most often published in these fields:

  • Monetary economics (50.57%)
  • Monetary policy (44.06%)
  • Interest rate (26.82%)

What were the highlights of his more recent work (between 2009-2021)?

  • Monetary economics (50.57%)
  • Monetary policy (44.06%)
  • Interest rate (26.82%)

In recent papers he was focusing on the following fields of study:

Daniel L. Thornton mainly focuses on Monetary economics, Monetary policy, Interest rate, Open market operation and Quantitative easing. Daniel L. Thornton regularly links together related areas like Debt in his Monetary economics studies. His work in Forward guidance and Federal funds is related to Monetary policy.

The study incorporates disciplines such as Sample, Predictability and Portfolio in addition to Interest rate. The various areas that Daniel L. Thornton examines in his Predictability study include Yield curve and Econometrics. His research on Open market operation also deals with topics like

  • Yield which is related to area like Lucas critique,
  • Liquidity risk that intertwine with fields like Financial system.

Between 2009 and 2021, his most popular works were:

  • Out-of-Sample Predictions of Bond Excess Returns and Forward Rates: An Asset Allocation Perspective (84 citations)
  • How Effective Is Central Bank Forward Guidance (23 citations)
  • The Phillips curve and US monetary policy: what the FOMC transcripts tell us (22 citations)

In his most recent research, the most cited papers focused on:

  • Statistics
  • Monetary policy
  • Inflation

Daniel L. Thornton mostly deals with Monetary policy, Interest rate, Monetary economics, Predictability and Open market operation. His Monetary policy study combines topics in areas such as Inflation and Moneyness. Daniel L. Thornton has included themes like Forward guidance and Portfolio in his Interest rate study.

His Predictability research integrates issues from Yield curve and Econometrics. His work in the fields of Econometrics, such as Null hypothesis, overlaps with other areas such as Performance fee. His work carried out in the field of Open market operation brings together such families of science as Phillips curve, Full employment and Price of stability.

This overview was generated by a machine learning system which analysed the scientist’s body of work. If you have any feedback, you can contact us here.

Best Publications

A Primer on Cointegration with an Application to Money and Income

David A. Dickey;Dennis W. Jansen;Daniel L. Thornton.
Canadian Parliamentary Review (1991)

614 Citations

Lag-Length Selection and Tests of Granger Causality Between Money and Income

Daniel L. Thornton;Dallas S. Batten.
Journal of Money, Credit and Banking (1984)

514 Citations

Market Anticipations of Monetary Policy Actions

William Poole;Robert H. Rasche;Daniel L. Thornton.
Federal Reserve Bank of St Louis Review (2002)

219 Citations

The dynamic relationship between the federal funds rate and the Treasury bill rate: An empirical investigation

Lucio Sarno;Lucio Sarno;Lucio Sarno;Daniel L. Thornton.
Journal of Banking and Finance (2003)

178 Citations

The empirical failure of the expectations hypothesis of the term structure of bond yields

Lucio Sarno;Daniel L. Thornton;Giorgio Valente.
Journal of Financial and Quantitative Analysis (2007)

159 Citations

Out-of-Sample Predictions of Bond Excess Returns and Forward Rates: An Asset Allocation Perspective

Daniel L. Thornton;Giorgio Valente.
Review of Financial Studies (2010)

157 Citations

What the Libor-OIS Spread Says

Daniel L. Thornton.
Economic Synopses (2009)

127 Citations

Tests of the Market's Reaction to Federal Funds Rate Target Changes

Daniel L. Thornton.
Federal Reserve Bank of St Louis Review (1998)

114 Citations

The expectation hypothesis of the term structure of very short-term rates : statistical tests and economic value

Pasquale Della Corte;Lucio Sarno;Daniel L Thornton.
Journal of Financial Economics (2006)

111 Citations

Financial Innovation, Deregulation and the "Credit View" of Monetary Policy

Daniel L. Thornton.
Federal Reserve Bank of St Louis Review (1994)

101 Citations

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