Publications

Rating Banks: Risk and Uncertainty in an Opaque Industry 
American Economic Review, Forthcoming, September 2002
37 pages / 130 kb

Market Discipline of Banks: The Asset Test
Journal of Financial Services Research, October/December 2001

Listening to Loan Officers: Commercial Credit Standards, Lending, and Output 
With Cara Lown and Sonali Rohatgi
Federal Reserve Bank of New York Economic Policy Review, July 2000
16 pages / 151 kb

Capital Market Frictions and Deposit Constraints at Banks
With Jith Jayaratne
Journal of Money Credit and Banking, February 2000

Bond Market Discipline of Banks: Is the Market Tough Enough? 
With Kevin J. Stiroh
Federal Reserve Bank of New York Staff Reports, Number 95, December 1999
29 pages / 123 kb

Meet the New Borrowers 
With Sandra Black
Federal Reserve Bank of New York Current Issues in Economics and Finance, February 1999
6 pages / 60 kb

The Credit Effects of Monetary Policy: Evidence Using Loan Commitments
Journal of Money Credit and Banking, February 1998

Donald Morgan's CV

The views expressed in the papers listed on this page are those of the author(s) and do not necessarily reflect the position of the Federal Reserve Bank of New York or the Federal Reserve System.