Daniel M. Covitz

Federal Reserve Board - Division of Research & Statistics

Economist

20th and C Streets, NW

Mailstop 153

Washington, DC 20551

United States

SCHOLARLY PAPERS

16

DOWNLOADS
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Top 5,713

in Total Papers Downloads

7,521

SSRN CITATIONS
Rank 5,795

SSRN RANKINGS

Top 5,795

in Total Papers Citations

45

CROSSREF CITATIONS

130

Scholarly Papers (16)

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

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
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

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

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
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.
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

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, 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

Abstract:

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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

Abstract:

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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)

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

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

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
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
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

Abstract:

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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