Professional Experience

• • Economist

    Board of Governors of the Federal Reserve System

  • 2007 - present

• • Senior Analyst

    Bank of Canada

  • 2004 - 2007

Publications

• Wu, Jason J., Paul S. Calem, and Francisco B. Covas (Forthcoming). "The Impact of the 2007 Liquidity Shock on Bank Jumbo Mortgage Lending," Journal of Money, Credit, and Banking.
• Covas, Francisco, and Wouter J. Den Haan (2012). "The Role of Debt and Equity Finance Over the Business Cycle," The Economic Journal, vol. 122, no. 565, pp. 1262-1286.
• Covas, Francisco, and Shigeru Fujita (2011). "Private Equity Premium and Aggregate Uncertainty in a Model of Uninsurable Investment Risk," B.E. Journal of Macroeconomics, Vol. 11, no. 1, Article 20.
• Covas, Francisco, and Wouter J. Den Haan (2011). "The Cyclical Behavior of Debt and Equity Finance," American Economic Review, vol. 101, no. 2, pp. 877-899.
• Covas, Francisco, and Shigeru Fujita (2010). "Procyclicality of Capital Requirements in a General Equilibrium Model of Liquidity Dependence," International Journal of Central Banking, vol. 6, no. 4, pp. 137-173.
• Covas, Francisco, and Yahong Zhang (2010). "Price-Level Versus Inflation Targeting with Financial Market Imperfections," Canadian Journal of Economics, vol. 43, no. 4, pp. 1302-1332.
• Covas, Francisco (2006). "Uninsured Idiosyncratic Production Risk with Borrowing Constraints," Journal of Economic Dynamics and Control, vol. 30, no. 11, pp. 2167-2190.

Presentations

• conference

  October 17, 2012

  2nd Conference of the Macroprudential Research Network/European Central Bank

  Stress-Testing U.S. Bank Holding Companies: A Dynamic Panel Quantile Regression Approach

• conference

  November 16, 2012

  New Tools for Financial Regulation Conference/Banque de France

  Stress-Testing U.S. Bank Holding Companies: A Dynamic Panel Quantile Regression Approach

• conference

  December 7, 2012

  Interagency Risk Quantification Forum/Federal Reserve Bank of Philadelphia

  Stress-Testing U.S. Bank Holding Companies: A Dynamic Panel Quantile Regression Approach

Other Activities