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Author:Thornton, Daniel L. 

Journal Article
Quantitative easing and money growth: potential for higher inflation?

The enormous quantity of excess reserves can create an even greater expansion in the money supply.>
Economic Synopses

Journal Article
The borrowed-reserves operating procedures: theory and evidence

Review , Issue Jan , Pages 30-54

Journal Article
Social security, saving, and wealth accumulation

National Economic Trends , Issue May

Journal Article
How robust are the policy conclusions of the St. Louis equation?: some further evidence

Review , Volume 66 , Issue Jun

Journal Article
Interest rate targets abandoned

Monetary Trends , Issue Jun

Journal Article
The expected federal budget surplus: how much confidence should the public and policymakers place in the projections?

When the government runs a deficit, it can borrow from the public?that is, it can create debt. Conversely, when the government runs a surplus, it can retire that debt. For the past three years, the federal government has recorded budget surpluses, and both the White House Office of Management and Budget and the Congressional Budget Office project that these surpluses will increase for at least the next decade. If these projections prove to be accurate, the $3.5 trillion of publicly held federal debt could be eliminated by around 2010. This article, which was written prior to the updated ...
Review , Volume 83 , Issue Mar , Pages 11-24

Journal Article
Simple analytics of the money supply process and monetary control

Review , Volume 64 , Issue Oct , Pages 22-39

Journal Article
Money in a theory of exchange

Major problems in monetary economics are to: introduce money into the economy in a way that explains how money arises endogenously; explain why money is preferred to other methods of exchange; and identify the welfare gains from using money. In this paper, Daniel L. Thornton develops a framework for assessing money's role in the economy and identifies the welfare gains associated with its use. In Thornton's framework, money is welfare enhancing not only because it reduces the resources necessary for exchange-thereby increasing both consumption and leisure-but, money further increases welfare ...
Review , Volume 82 , Issue Jan , Pages 35-60

Journal Article
An early look at the volatility of money and interest rates under CRR

Review , Volume 66 , Issue Oct , Pages 26-32

Journal Article
An extended series of divisia monetary aggregates

Review , Issue Nov , Pages 35-52

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