Daniel M. Covitz

Board of Governors of the Federal Reserve System

Economist

20th Street and Constitution Avenue NW

Washington, DC 20551

United States

SCHOLARLY PAPERS

17

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Top 6,775

in Total Papers Downloads

7,831

SSRN CITATIONS
Rank 5,828

SSRN RANKINGS

Top 5,828

in Total Papers Citations

90

CROSSREF CITATIONS

133

Scholarly Papers (17)

1.

Testing Conflicts of Interest at Bond Rating Agencies with Market Anticipation: Evidence that Reputation Incentives Dominate

Number of pages: 37 Posted: 05 Mar 2004
Daniel M. Covitz and Paul Harrison
Board of Governors of the Federal Reserve System and Federal Reserve Board - Division of Research & Statistics
Downloads 1,771 (11,087)
Citation 70

Abstract:

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Rating agencies, bond market, conflicts of interest, reputation

2.

The Evolution of a Financial Crisis: Collapse of the Asset-Backed Commercial Paper Market

Journal of Finance, Forthcoming
Number of pages: 55 Posted: 22 Mar 2009 Last Revised: 12 Apr 2012
Daniel M. Covitz, Nellie Liang and Gustavo Suarez
Board of Governors of the Federal Reserve System, Brookings Institution and Board of Governors of the Federal Reserve System
Downloads 1,654 (12,386)
Citation 75

Abstract:

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Commercial paper, asset-backed commercial paper, bank runs, financial crisis

3.

Monitoring, Moral Hazard, and Market Power: A Model of Bank Lending

Number of pages: 28 Posted: 07 Jan 2000
Daniel M. Covitz and Erik Heitfield
Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
Downloads 726 (41,540)
Citation 5

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4.

Why are Bank Profits so Persistent? The Roles of Product Market Competition, Informational Opacity, and Regional/Macroeconomic Shocks

Number of pages: 37 Posted: 04 Aug 1999
University of South Carolina - Darla Moore School of Business, PepsiCo, Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
Downloads 697 (43,834)
Citation 16

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5.

The Timing of Debt Issuance and Rating Migrations: Theory and Evidence

Number of pages: 45 Posted: 27 Jun 2000
Daniel M. Covitz and Paul Harrison
Board of Governors of the Federal Reserve System and Federal Reserve Board - Division of Research & Statistics
Downloads 479 (70,829)
Citation 4

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6.

Do Nonfinancial Firms Use Interest Rate Derivatives to Hedge?

Finance and Economics Discussion Series Paper No. 2005-39
Number of pages: 28 Posted: 26 Oct 2005
Daniel M. Covitz and Steven A. Sharpe
Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
Downloads 422 (82,489)
Citation 3

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Derivatives, risk management, debt maturity

7.
Downloads 348 (102,906)
Citation 13

Financial Stability Monitoring

FEDS Working Paper No. 2013-21
Number of pages: 58 Posted: 10 May 2013
Tobias Adrian, Daniel M. Covitz and Nellie Liang
International Monetary Fund, Board of Governors of the Federal Reserve System and Brookings Institution
Downloads 270 (134,452)
Citation 6

Abstract:

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Stability, monitoring, vulnerabilities

Financial Stability Monitoring

FRB of New York Staff Report No. 601
Number of pages: 58 Posted: 02 Mar 2013
Tobias Adrian, Daniel M. Covitz and Nellie Liang
International Monetary Fund, Board of Governors of the Federal Reserve System and Brookings Institution
Downloads 78 (368,192)
Citation 12

Abstract:

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financial stability, systemic risk

Financial Stability Monitoring

Annual Review of Financial Economics, Vol. 7, pp. 357-395, 2015
Posted: 11 Dec 2015
Tobias Adrian, Daniel M. Covitz and Nellie Liang
International Monetary Fund, Board of Governors of the Federal Reserve System and Brookings Institution

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8.

Insolvency or Liquidity Squeeze? Explaining Very Short-Term Corporate Yield Spreads

Number of pages: 42 Posted: 09 Jan 2003
Daniel M. Covitz and Chris Downing
Board of Governors of the Federal Reserve System and BlackRock
Downloads 280 (130,133)
Citation 5

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Yields, spreads, default, insolvency, liquidity

9.

An Empirical Analysis of Bond Recovery Rates: Exploring a Structural View of Default

FEDS Working Paper No. 2005-10
Number of pages: 46 Posted: 30 May 2005
Daniel M. Covitz and Song Han
Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
Downloads 279 (130,631)
Citation 22

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Recovery rate, default, credit risk model

10.

Do Banks Strategically Time Public Bond Issuance Because of Accompanying Disclosure, Due Diligence, and Investor Scrutiny?

Number of pages: 56 Posted: 24 Sep 2003
Daniel M. Covitz and Paul Harrison
Board of Governors of the Federal Reserve System and Federal Reserve Board - Division of Research & Statistics
Downloads 274 (133,135)
Citation 3

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Bond Issuance, disclosure, due diligence, financial institutions

11.

Market Discipline in Banking Reconsidered: The Roles of Deposit Insurance Reform, Funding Manager Decisions and Bond Market Liquidity

Number of pages: 36 Posted: 05 Apr 2003
Diana Hancock, Daniel M. Covitz and Myron L. Kwast
Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
Downloads 245 (148,998)

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Market discipline, subordinated debt, market efficiency

12.

A Reconsideration of the Risk Sensitivity of U.S. Banking Organization Subordinated Debt Spreads: A Sample Selection Approach

Economic Policy Review, Vol. 10, No. 2, September 2004
Number of pages: 20 Posted: 23 Aug 2005
Daniel M. Covitz, Diana Hancock and Myron L. Kwast
Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
Downloads 188 (191,096)
Citation 2

Abstract:

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bank market discipline, subordinated debt

13.

Market Discipline in Banking Reconsidered: The Roles of Funding Manager Decisions and Deposit Insurance Reform

Number of pages: 59 Posted: 17 Dec 2004
Diana Hancock, Myron L. Kwast and Daniel M. Covitz
Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
Downloads 176 (202,529)
Citation 3

Abstract:

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Debt issuance, subordinated bonds

14.

Are Longer Bankruptcies Really More Costly?

FEDS Working Paper No. 2006-27
Number of pages: 48 Posted: 16 Mar 2006
Daniel M. Covitz, Song Han and Beth Anne Wilson
Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
Downloads 153 (227,946)
Citation 4

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Bankruptcy cost, bankruptcy reorganization, recovery rate, credit risk

15.

Securitization Markets and Central Banking: An Evaluation of the Term Asset-Backed Securities Loan Facility

FEDS Working Paper No. 2011-16
Number of pages: 42 Posted: 17 Apr 2011
Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
Downloads 139 (246,456)
Citation 14

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securitization, financial crisis, monetary policy, discount window, lender of last resort

16.

Financial Stability Monitoring

FEDS Notes No. 2014-08-04 https://doi.org/10.17016/2380-7172.0026
Posted: 16 Dec 2014
Tobias Adrian, Daniel M. Covitz and Nellie Liang
International Monetary Fund, Board of Governors of the Federal Reserve System and Brookings Institution

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17.

Do Banks Time Bond Issuance to Trigger Disclosure, Due Diligence, and Investor Scrutiny?

Posted: 22 May 2004
Daniel M. Covitz and Paul Harrison
Board of Governors of the Federal Reserve System and Federal Reserve Board - Division of Research & Statistics

Abstract:

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Bond issuance, disclosure, due diligence, financial institutions