Donald P. Morgan

Federal Reserve Bank of New York

Economist

33 Liberty Street

Research Department

New York, NY 10045

United States

  • Federal Reserve Bank of New York

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    • Tel: 212-720-6573
SCHOLARLY PAPERS

33

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436

Scholarly Papers (33)

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1.

Bank Commitment Relationships, Cash Flow Constraints, and Liquidity Management

Downloads 952 ( 34,465)
Citation 1

Bank Commitment Relationships, Cash Flow Constraints, and Liquidity Management

FRBNY Staff Reports No. 108
Number of pages: 26 Posted: 07 Nov 2000
Donald P. Morgan
Federal Reserve Bank of New York
Downloads 740 (47,942)
Citation 1

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Bank commitment relationships, cash flow constraints, liquidity management

Bank Commitment Relationships, Cash Flow Constraints, and Liquidity Management

Federal Reserve Bank of New York Research Paper Series - Staff Report, No. 108
Number of pages: 26 Posted: 29 Sep 2006
Donald P. Morgan
Federal Reserve Bank of New York
Downloads 212 (200,036)

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loan commitments, bank relationship, cash flow restraint, cash management

2.

Too Big to Fail after All These Years

FRB NY Staff Report No. 220
Number of pages: 30 Posted: 04 Oct 2005
Donald P. Morgan and Kevin J. Stiroh
Federal Reserve Bank of New York and Federal Reserve Bank of New York
Downloads 836 (41,306)
Citation 44

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market discipline, too big to fail

3.

Rating Banks: Risk and Uncertainty in an Opaque Industry

FRB of New York Staff Report No. 105
Number of pages: 37 Posted: 07 Nov 2006
Donald P. Morgan
Federal Reserve Bank of New York
Downloads 725 (49,920)
Citation 229

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4.

The Information Value of the Stress Test and Bank Opacity

FRB of New York Staff Report No. 460
Number of pages: 37 Posted: 29 Jul 2010
Stavros Peristiani, Donald P. Morgan and Vanessa Savino
Federal Reserve Bank of New York--Retired, Federal Reserve Bank of New York and Federal Reserve Bank of New York
Downloads 701 (52,241)
Citation 63

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Supervisory Capital Assessment Program, Capital Gap, Event Study

5.

Trends in Financial Market Concentration and their Implications for Market Stability

Economic Policy Review, Vol. 13, No. 1, March 2007
Number of pages: 19 Posted: 26 Mar 2007
Nicola Cetorelli, Beverly Hirtle, Donald P. Morgan, Stavros Peristiani and João A. C. Santos
Federal Reserve Bank of New York, Federal Reserve Bank of New York - Banking Studies Department, Federal Reserve Bank of New York, Federal Reserve Bank of New York--Retired and Federal Reserve Bank of New York
Downloads 698 (52,532)
Citation 1

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Financial stability, financial crises, market concentration, competition, substitutability

6.

Listening to Loan Officers: The Impact of Commercial Credit Standards on Lending and Output

Economic Policy Review, Vol. 6, No. 2, July 2000
Number of pages: 16 Posted: 07 Mar 2006
Cara S. Lown, Donald P. Morgan and Sonali Rohatgi
Federal Reserve Banks - Federal Reserve Bank of New York, Federal Reserve Bank of New York and Federal Reserve Bank of New York
Downloads 669 (55,515)
Citation 5

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bank credit, standards, availability, crunch, channel

7.

Payday Holiday: How Households Fare After Payday Credit Bans

FRB of New York Staff Report No. 309
Number of pages: 49 Posted: 26 Nov 2007 Last Revised: 13 Jul 2011
Donald P. Morgan and Michael R. Strain
Federal Reserve Bank of New York and American Enterprise Institute
Downloads 524 (75,607)
Citation 46

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payday credit, consumer welfare, bounced-check protection, informal bankruptcy

8.

Bad Debt Rising

Current Issues in Economics and Finance, Vol. 3, No. 4, March 1997
Number of pages: 6 Posted: 11 Jul 2007
Donald P. Morgan and Ian Toll
Federal Reserve Bank of New York and affiliation not provided to SSRN
Downloads 443 (92,478)
Citation 4

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credit cards, charge-offs, risk, life-style demand

9.

Bond Market Discipline of Banks: Is the Market Tough Enough?

FRB of New York Staff Report No. 95
Number of pages: 29 Posted: 11 Feb 2000
Donald P. Morgan and Kevin J. Stiroh
Federal Reserve Bank of New York and Federal Reserve Bank of New York
Downloads 364 (115,828)
Citation 32

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10.

Judging the Risk of Banks: Why Can't Bond Raters Agree?

Federal Reserve Bank Staff Study
Number of pages: 32 Posted: 24 Apr 1999
Donald P. Morgan
Federal Reserve Bank of New York
Downloads 318 (133,949)
Citation 4

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11.

Seismic Effects of the Bankruptcy Reform

FRB of New York Staff Report No. 358
Number of pages: 30 Posted: 02 Dec 2008 Last Revised: 18 Sep 2012
Donald P. Morgan, Benjamin Charles Iverson and Matthew J. Botsch
Federal Reserve Bank of New York, Brigham Young University and Bowdoin College
Downloads 254 (168,632)
Citation 9

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bankruptcy, subprime foreclosures, subprime mortgages, unsecured debt, credit card debt, home equity exemptions

12.

The Bankruptcy Abuse Prevention and Consumer Protection Act: Means-Testing or Mean Spirited?

FRB of New York Staff Report No. 279
Number of pages: 28 Posted: 13 Mar 2007
Adam B. Ashcraft, Astrid Andrea Dick and Donald P. Morgan
Federal Reserve Bank of New York, Federal Reserve Bank of New York and Federal Reserve Bank of New York
Downloads 213 (199,392)
Citation 9

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bankruptcy, consumption smoothing, insurance, moral hazard

13.

Credit Effects in the Monetary Mechanism

Economic Policy Review, Vol. 8, No. 1, May 2002
Number of pages: 19 Posted: 26 Oct 2005
Cara S. Lown and Donald P. Morgan
Federal Reserve Banks - Federal Reserve Bank of New York and Federal Reserve Bank of New York
Downloads 168 (245,691)
Citation 1

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credit channel, monetary transmission

14.

Bank Integration and State Business Cycles

Downloads 162 (253,405)
Citation 124

Bank Integration and State Business Cycles

Number of pages: 41 Posted: 19 Apr 2003
Donald P. Morgan, Philip E. Strahan and Bertrand Rime
Federal Reserve Bank of New York, Boston College - Department of Finance and Swiss National Bank - Banking Studies Section
Downloads 106 (350,877)

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Bank Integration and State Business Cycles

NBER Working Paper No. w9704
Number of pages: 43 Posted: 18 May 2003 Last Revised: 09 Jul 2022
Donald P. Morgan, Philip E. Strahan and Bertrand Rime
Federal Reserve Bank of New York, Boston College - Department of Finance and Swiss National Bank - Banking Studies Section
Downloads 56 (506,571)
Citation 14

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15.

Bank Integration and Business Volatility in the U.S.

FRB of New York Staff Report No. 129, EFA 2001 Barcelona Meetings
Number of pages: 30 Posted: 14 Jul 2001
Donald P. Morgan, Philip E. Strahan and Bertrand Rime
Federal Reserve Bank of New York, Boston College - Department of Finance and Swiss National Bank - Banking Studies Section
Downloads 158 (258,800)
Citation 3

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16.

Competition and Adverse Selection in the Small-Dollar Loan Market: Overdraft versus Payday Credit

FRB of New York Staff Report No. 391
Number of pages: 33 Posted: 14 Sep 2009 Last Revised: 22 Aug 2010
Brian Melzer and Donald P. Morgan
Federal Reserve Bank of Chicago and Federal Reserve Bank of New York
Downloads 144 (278,759)
Citation 12

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payday credit, overdraft credit, competition, adverse selection

17.

Subprime Foreclosures and the 2005 Bankruptcy Reform

Downloads 128 (305,147)
Citation 12

Subprime Foreclosures and the 2005 Bankruptcy Reform

Economic Policy Review, March 2012
Number of pages: 11 Posted: 18 Feb 2011 Last Revised: 01 May 2013
Donald P. Morgan, Benjamin Charles Iverson and Matthew J. Botsch
Federal Reserve Bank of New York, Brigham Young University and Bowdoin College
Downloads 83 (410,324)

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Bankruptcy, Subprime Foreclosures, Home Equity Exemptions, Cram-Down

Subprime Foreclosures and the 2005 Bankruptcy Reform

Economic Policy Review, Vol. 18, No. 1, March 2012
Number of pages: 11 Posted: 13 Sep 2013
Donald P. Morgan, Benjamin Charles Iverson and Matthew J. Botsch
Federal Reserve Bank of New York, Brigham Young University and Bowdoin College
Downloads 45 (557,825)
Citation 14

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bankruptcy, subprime foreclosures, home equity exemptions, cram-down

18.

How Bad Are Weather Disasters for Banks?

FRB of New York Staff Report No. 990, 2021, Rev. Jan. 2022
Number of pages: 36 Posted: 16 Nov 2021 Last Revised: 19 Jul 2022
Kristian Blickle, Sarah Ngo Hamerling and Donald P. Morgan
Federal Reserve Banks - Federal Reserve Bank of New York, Federal Reserve Banks - Federal Reserve Bank of New York and Federal Reserve Bank of New York
Downloads 124 (312,335)

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hurricanes, wildfires, floods, climate change, weather disasters, FEMA, banks, financial stability, local knowledge

19.

Who Pays the Price? Overdraft Fee Ceilings and the Unbanked

FRB of New York Staff Report No. 973, Rev. Dec. 2021
Number of pages: 44 Posted: 02 Jul 2021 Last Revised: 19 Jul 2022
Jennifer Dlugosz, Brian Melzer and Donald P. Morgan
Board of Governors of the Federal Reserve System, Federal Reserve Bank of Chicago and Federal Reserve Bank of New York
Downloads 111 (337,823)

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banks, credit, overdraft, unbanked, inclusion, checks, price ceilings, usury

20.

Meet the New Borrowers

Current Issues in Economics and Finance, Vol. 5, No. 3, February 1999
Number of pages: 6 Posted: 27 Jun 2007
Sandra E. Black and Donald P. Morgan
Columbia University and Federal Reserve Bank of New York
Downloads 105 (350,773)

Abstract:

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credit cards, borrowers, debt

21.

What Makes Large Bank Failures so Messy and What to Do About it?

Economic Policy Review, Forthcoming
Number of pages: 41 Posted: 10 Apr 2014
James McAndrews, Donald P. Morgan, João A. C. Santos and Tanju Yorulmazer
Wharton Financial Institutions Center, Federal Reserve Bank of New York, Federal Reserve Bank of New York and Koc University
Downloads 95 (374,071)
Citation 1

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22.

Local or State? Evidence on Bank Market Size Using Branch Prices

Economic Policy Review, Vol. 12, No. 1, May 2006
Number of pages: 11 Posted: 21 Jul 2006
Donald P. Morgan and Paul Edelstein
Federal Reserve Bank of New York and Federal Reserve Bank of New York
Downloads 94 (376,655)

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local banking markets, state banking markets

23.

Bank Leverage Limits and Regulatory Arbitrage: Old Question, New Evidence

FRB of New York Staff Report No. 856
Number of pages: 43 Posted: 20 Jun 2018 Last Revised: 28 Dec 2019
Dong Beom Choi, Michael R. Holcomb and Donald P. Morgan
Seoul National University - Business School, Federal Reserve Banks - Federal Reserve Bank of New York and Federal Reserve Bank of New York
Downloads 70 (446,817)
Citation 3

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Basel III regulation, bank risk, leverage limit, regulatory arbitrage, reaching for yield

24.

Conference Overview and Summary of Papers

Economic Policy Review, Vol. 10, No. 2, September 2004
Number of pages: 4 Posted: 23 Aug 2005
Donald P. Morgan and Frederic S. Mishkin
Federal Reserve Bank of New York and Columbia University - Columbia Business School, Finance
Downloads 60 (482,915)

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Basel II, banking regulation, market discipline, disclosure

25.

The Benefits of Intrastate and Interstate Geographic Diversification in Banking

Number of pages: 40 Posted: 23 Feb 2014
Céline Meslier, Donald P. Morgan, Katherine Samolyk and Amine Tarazi
Universite de Limoges, LAPE, Federal Reserve Bank of New York, Consumer Financial Protection Bureau and University of Limoges - Laboratoire d'Analyse et de Prospectives Économiques (LAPE)
Downloads 56 (498,580)
Citation 8

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Bank Holding Company; Geographic Diversification; Intrastate and interstate disparities in economic activity; Bank risk and return

26.

Piggy Banks: Financial Intermediaries as a Commitment to Save

FRB of New York Staff Report No. 50
Number of pages: 24 Posted: 28 Jan 1999
Donald P. Morgan
Federal Reserve Bank of New York
Downloads 48 (532,934)
Citation 1

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27.

Foreign Bank Entry and Business Volatility: Evidence from U.S. States and Other Countries

NBER Working Paper No. w9710
Number of pages: 40 Posted: 16 May 2003 Last Revised: 15 Jul 2022
Donald P. Morgan and Philip E. Strahan
Federal Reserve Bank of New York and Boston College - Department of Finance
Downloads 44 (551,750)
Citation 1

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28.

The Main Street Lending Program

Downloads 41 (566,783)

The Main Street Lending Program

Federal Reserve Bank of Boston Research Paper Series Current Policy Perspectives Paper No. 93068
Number of pages: 43 Posted: 29 Sep 2021
David M. Arseneau, Jose L. Fillat, Molly Mahar, Donald P. Morgan and Skander Van den Heuvel
Board of Governors of the Federal Reserve System, Federal Reserve Banks - Federal Reserve Bank of Boston, Board of Governors of the Federal Reserve System, Federal Reserve Bank of New York and Board of Governors of the Federal Reserve System
Downloads 34 (619,487)

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Main Street Lending Program, COVID-19, emergency lending facilities, credit demand, bank loans, bank capital, small business

The Main Street Lending Program

Economic Policy Review, Vol. 28, No. 1, p. 58-92, 2022
Number of pages: 36 Posted: 07 Jul 2022
David M. Arseneau, Jose L. Fillat, Molly Mahar, Donald P. Morgan and Skander Van den Heuvel
Board of Governors of the Federal Reserve System, Federal Reserve Banks - Federal Reserve Bank of Boston, Board of Governors of the Federal Reserve System, Federal Reserve Bank of New York and Board of Governors of the Federal Reserve System
Downloads 7 (850,941)

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Main Street Lending Program, COVID-19, emergency lending facilities, credit demand, bank loans, bank capital, small businesses, Federal Reserve lending programs

29.

Introduction

Economic Policy Review, Vol. 8, No. 2, November 2002
Number of pages: 4 Posted: 13 Sep 2005
Erica L. Groshen, Linda S. Goldberg, Hamid Mehran, Donald P. Morgan and Carol L. Osler
Federal Reserve Bank of New York, Federal Reserve Bank of New York, Independent, Federal Reserve Bank of New York and Brandeis University - International Business School
Downloads 39 (577,055)

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September 11, terrorism, New York City, financial markets, Federal Reserve Bank of New York

30.

Climate-Related Financial Stability Risks for the United States: Methods and Applications

FEDS Working Paper No. 2022-43
Number of pages: 47 Posted: 12 Jul 2022
Celso Brunetti, John Caramichael, Matteo Crosignani, Benjamin Dennis, Gurubala Kotta, Donald P. Morgan, Chaehee Shin and Ilknur Zer
Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System, Federal Reserve Banks - Federal Reserve Bank of New York, Independent, Board of Governors of the Federal Reserve System, Federal Reserve Bank of New York, Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
Downloads 23 (685,517)

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Climate change, Financial stability and risk

31.

COVID Response: The Main Street Lending Program

FRB of New York Staff Report No. 984
Number of pages: 44 Posted: 29 Sep 2021
David M. Arseneau, Jose L. Fillat, Molly Mahar, Donald P. Morgan and Skander Van den Heuvel
Board of Governors of the Federal Reserve System, Federal Reserve Banks - Federal Reserve Bank of Boston, Board of Governors of the Federal Reserve System, Federal Reserve Bank of New York and Board of Governors of the Federal Reserve System
Downloads 15 (742,347)

Abstract:

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Main Street Lending Program, COVID-19, credit demand, bank loans, bank capital, small businesses, Federal Reserve lending programs

32.

Using Loan Rates to Measure and Regulate Bank Risk: Findings Immodest Proposal

Posted: 17 Feb 2004
Donald P. Morgan and Adam B. Ashcraft
Federal Reserve Bank of New York and Federal Reserve Bank of New York

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Deposit insurance reform, credit risk pricing, risk-based capital regulation

33.

Capital Market Frictions and Deposit Constraints on Banks

FRB New York Research Paper No. 9731
Posted: 08 Jan 1999
Donald P. Morgan
Federal Reserve Bank of New York

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