Overview
Daniel L. Thornton is a monetary economist formerly at the Federal Reserve Bank of St. Louis, where he conducted research on monetary policy transmission, interest rates, and applied time series. He co-authored the widely cited 1991 St. Louis Fed primer on cointegration, applying competing testing methods to U.S. money demand data.
Key Contributions / Features
- Cointegration primer (1991, with D.A. Dickey and D.W. Jansen): practitioner-oriented survey of cointegration testing methodology (Engle-Granger, Stock-Watson, Johansen); empirical application to U.S. M1, M2, NM1M2, and monetary base with various interest rates over 1953.2–1988.4; illustrates that results are sensitive to test choice and interest rate specification.
Related