Daniel M. Covitz

Board of Governors of the Federal Reserve System

Economist

20th Street and Constitution Avenue NW

Washington, DC 20551

United States

  • Board of Governors of the Federal Reserve System

    • Email
    • Tel: 202-452-5267
    • Fax: 202-452-5295
SCHOLARLY PAPERS

19

DOWNLOADS
Rank 8,560

SSRN RANKINGS

Top 8,560

in Total Papers Downloads

8,324

SSRN CITATIONS
Rank 5,568

SSRN RANKINGS

Top 5,568

in Total Papers Citations

101

CROSSREF CITATIONS

136

Scholarly Papers (19)

Actions:
Email selected abstracts
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 1,856 (13,785)
Citation 76

Abstract:

Loading...

Rating agencies, bond market, conflicts of interest, reputation

2.

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

Downloads 1,716 (15,602)

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

FEDS Working Paper No. 2009-36
Posted: 14 Jul 2021
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

Abstract:

Loading...

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 1,716 (15,329)
Citation 80

Abstract:

Loading...

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 775 (49,248)
Citation 5

Abstract:

Loading...

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
Allen N. Berger, Seth D. Bonime, Daniel M. Covitz and Diana Hancock
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 718 (54,492)
Citation 16

Abstract:

Loading...

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 498 (86,798)
Citation 4

Abstract:

Loading...

6.

Do Nonfinancial Firms Use Interest Rate Derivatives to Hedge?

Downloads 469 (93,358)

Do Nonfinancial Firms Use Interest Rate Derivatives to Hedge?

FEDS Working Paper No. 2005-39
Posted: 06 Jul 2021 Last Revised: 03 Jul 2021
Daniel M. Covitz and Steven A. Sharpe
Board of Governors of the Federal Reserve System and affiliation not provided to SSRN

Abstract:

Loading...

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 469 (92,456)
Citation 3

Abstract:

Loading...

Derivatives, risk management, debt maturity

7.

Financial Stability Monitoring

Downloads 424 (104,971)
Citation 16

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 321 (142,297)
Citation 6

Abstract:

Loading...

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 103 (388,889)
Citation 14

Abstract:

Loading...

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

Abstract:

Loading...

8.

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 304 (151,676)
Citation 22

Abstract:

Loading...

Recovery rate, default, credit risk model

9.

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 300 (153,789)
Citation 5

Abstract:

Loading...

Yields, spreads, default, insolvency, liquidity

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 286 (161,551)
Citation 3

Abstract:

Loading...

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 256 (180,780)

Abstract:

Loading...

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 205 (223,577)
Citation 2

Abstract:

Loading...

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 187 (242,713)
Citation 3

Abstract:

Loading...

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 166 (269,114)
Citation 4

Abstract:

Loading...

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
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 164 (271,893)
Citation 17

Abstract:

Loading...

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

16.

Financial Stability Monitoring

FEDS Notes No. 2014-08-04
Posted: 14 Jul 2021
Tobias Adrian, Daniel M. Covitz and Nellie Liang
International Monetary Fund, Board of Governors of the Federal Reserve System and Brookings Institution

Abstract:

Loading...

17.

Financial Stability Monitoring

FEDS Working Paper No. 2013-21
Posted: 14 Jul 2021
Tobias Adrian, Daniel M. Covitz and Nellie Liang
International Monetary Fund, Board of Governors of the Federal Reserve System and Brookings Institution

Abstract:

Loading...

18.

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

Abstract:

Loading...

19.

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:

Loading...

Bond issuance, disclosure, due diligence, financial institutions