Daniel M. Covitz

Federal Reserve Board - Division of Research & Statistics

Economist

20th and C Streets, NW

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Washington, DC 20551

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SCHOLARLY PAPERS

16

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7,521

SSRN CITATIONS
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Top 5,795

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45

CROSSREF CITATIONS

130

Scholarly Papers (16)

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1.

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

FEDS Working Paper No. 2003-68
Number of pages: 37 Posted: 05 Mar 2004
Daniel M. Covitz and Paul Harrison
Federal Reserve Board - Division of Research & Statistics and Federal Reserve Board - Division of Research & Statistics
Downloads 1,669 (9,875)
Citation 68

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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
Federal Reserve Board - Division of Research & Statistics, Brookings Institution and Board of Governors of the Federal Reserve System
Downloads 1,600 (10,615)
Citation 45

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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

FEDS Working Paper No. 99-37
Number of pages: 28 Posted: 07 Jan 2000
Daniel M. Covitz and Erik Heitfield
Federal Reserve Board - Division of Research & Statistics and Federal Reserve Board - Division of Research and Statistics
Downloads 702 (35,918)
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

FEDS Working Paper No. 99-28
Number of pages: 37 Posted: 04 Aug 1999
Allen N. Berger, Seth D. Bonime, Daniel M. Covitz and Diana Hancock
University of South Carolina - Darla Moore School of Business, PepsiCo, Federal Reserve Board - Division of Research & Statistics and Federal Reserve Board - Division of Research and Statistics
Downloads 684 (37,256)
Citation 15

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5.

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

FEDS Working Paper No. 2000-10
Number of pages: 45 Posted: 27 Jun 2000
Daniel M. Covitz and Paul Harrison
Federal Reserve Board - Division of Research & Statistics and Federal Reserve Board - Division of Research & Statistics
Downloads 469 (60,620)
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
Federal Reserve Board - Division of Research & Statistics and Federal Reserve Board - Research & Statistics
Downloads 403 (72,898)
Citation 3

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Derivatives, risk management, debt maturity

7.

Financial Stability Monitoring

Downloads 331 ( 91,383)
Citation 7

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, Federal Reserve Board - Division of Research & Statistics and Brookings Institution
Downloads 259 (118,386)
Citation 4

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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, Federal Reserve Board - Division of Research & Statistics and Brookings Institution
Downloads 72 (330,950)
Citation 6

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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, Federal Reserve Board - Division of Research & Statistics and Brookings Institution

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8.

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

FEDS Working Paper No. 2003-37
Number of pages: 56 Posted: 24 Sep 2003
Daniel M. Covitz and Paul Harrison
Federal Reserve Board - Division of Research & Statistics and Federal Reserve Board - Division of Research & Statistics
Downloads 269 (114,313)
Citation 2

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Bond Issuance, disclosure, due diligence, financial institutions

9.

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

FEDS Working Paper No. 2002-45
Number of pages: 42 Posted: 09 Jan 2003
Daniel M. Covitz and Chris Downing
Federal Reserve Board - Division of Research & Statistics and BlackRock
Downloads 268 (114,794)
Citation 5

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Yields, spreads, default, insolvency, liquidity

10.

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
Federal Reserve Board - Division of Research & Statistics and Federal Reserve Board - Division of Research and Statistics
Downloads 262 (117,505)
Citation 22

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Recovery rate, default, credit risk model

11.

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

FEDS Working Paper No. 2002-46
Number of pages: 36 Posted: 05 Apr 2003
Diana Hancock, Daniel M. Covitz and Myron L. Kwast
Federal Reserve Board - Division of Research and Statistics, Federal Reserve Board - Division of Research & Statistics and Federal Reserve Board - Division of Research & Statistics
Downloads 240 (128,607)
Citation 1

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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
Federal Reserve Board - Division of Research & Statistics, Federal Reserve Board - Division of Research and Statistics and Federal Reserve Board - Division of Research & Statistics
Downloads 177 (171,327)

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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

FEDS Working Paper No. 2004-53
Number of pages: 59 Posted: 17 Dec 2004
Diana Hancock, Myron L. Kwast and Daniel M. Covitz
Federal Reserve Board - Division of Research and Statistics, Federal Reserve Board - Division of Research & Statistics and Federal Reserve Board - Division of Research & Statistics
Downloads 174 (173,900)
Citation 3

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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
Federal Reserve Board - Division of Research & Statistics, Federal Reserve Board - Division of Research and Statistics and Government of the United States of America - Division of International Finance (IFDP)
Downloads 150 (197,285)
Citation 5

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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
Sean D. Campbell, Daniel M. Covitz, William R. Nelson and Karen M. Pence
U.S. Division of Monetary Affairs, Federal Reserve Board - Division of Research & Statistics, Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
Downloads 123 (231,014)
Citation 10

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

16.

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

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

Abstract:

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Bond issuance, disclosure, due diligence, financial institutions