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Photo of Mark A. Carlson

Mark A. Carlson

Senior Economic Project Manager Program Direction Section Monetary Affairs
mark.a.carlson@frb.gov

Education

  • Ph.D., Economics, University of California - Berkeley, 2001
  • B.S., Economics, University of Minnesota, 1996
  • Senior Economic Project Manager

    Board of Governors of the Federal Reserve System

    2016 - present
  • Principal Economist

    Board of Governors of the Federal Reserve System

    2015 - 2016
  • Senior Economist

    Bank for International Settlements

    2014 - 2016
  • Senior Economist

    Board of Governors of the Federal Reserve System

    2011 - 2015
  • Economist

    Board of Governors of the Federal Reserve System

    2001 - 2011
  • Adjunct Professor

    Georgetown University

    2006 - 2010
  • Carlson, Mark, Stefania D'Amico, Cristina Fuentes-Albero, Bernd Schlusche, and Paul Wood (2020). "Issues in the Use of the Balance Sheet Tool," Finance and Economics Discussion Series 2020-071. Board of Governors of the Federal Reserve System (U.S.).
  • Anbil, Sriya, Mark Carlson, Christopher Hanes, and David C. Wheelock (2020). "A New Daily Federal Funds Rate Series and History of the Federal Funds Market, 1928-1954," Finance and Economics Discussion Series 2020-059. Board of Governors of the Federal Reserve System (U.S.).
  • Carlson, Mark, and Marco Macchiavelli (2020). "Emergency Loans and Collateral Upgrades: How Broker-Dealers Used Federal Reserve Credit During the 2008 Financial Crisis," Journal of Financial Economics, vol. 137, no. 3 pp. 701-722.
  • Carlson, Mark, and Jonathan Rose (2019). "The incentives of large sophisticated creditors to run on a too big to fail financial institution" Journal of Financial Stability, vol. 41.
  • Anbil, Sriya, and Mark Carlson (2019). "The Re-emergence of the Federal Reserve Funds Market in the 1950s," FEDS Notes 2019-03-22. Board of Governors of the Federal Reserve System (U.S.).
  • Carlson, Mark, and Wheelock, David C. (2018). "Did the Founding of the Federal Reserve Affect the Vulnerability of the Interbank System to Contagion Risk?" Journal of Money, Credit, and Banking, vol, 50, no. 8, pp. 1711-1750.
  • Carlson, Mark, and David C. Wheelock (2018). "Near-Money Premiums, Monetary Policy, and the Integration of Money Markets: Lessons from Deregulation," Journal of Financial Intermediation, vol. 33, pp. 16-32.
  • Carlson, Mark, and Matthew Jaremski (2018). "Liquidity Requirements, Free-Riding, and the Implications for Financial Stability Evidence from the Early 1900s," Finance and Economics Discussion Series 2018-018. Board of Governors of the Federal Reserve System (U.S.).
  • Carlson, Mark, and Burcu Duygan-Bump (2018). ""Unconventional" Monetary Policy as Conventional Monetary Policy: A Perspective from the U.S. in the 1920s,"" Finance and Economics Discussion Series 2018-019. Board of Governors of the Federal Reserve System (U.S.).
  • Carlson, Mark, and David C. Wheelock (2018). "Furnishing an 'Elastic Currency': The Founding of the Fed and the Liquidity of the U.S. Banking System," Federal Reserve Bank of St. Louis Review, vol. 100, no. 1, pp. 17-44.
  • Calomiris, Charles W., and Mark A. Carlson (2017)."Interbank Networks in the National Banking Era: Their Purpose and Their Role in the Panic of 1893," Journal of Financial Economics, vol. 125, no. 3, pp. 434-453.
  • Carlson, Mark, and Jonathan D. Rose (2017). "Stigma and the Discount Window," FEDS Notes 2017-12-19. Board of Governors of the Federal Reserve System (U.S.).
  • Carlson, Mark, Molly Shatto, and Missaka Warusawitharana (2017). "Matching Banks by Business Model, Geography and Size: A Dataset," FEDS Notes 2017-08-08. Board of Governors of the Federal Reserve System (U.S.).
  • Carlson, Mark, and Burcu Duygan-Bump (2016). "The Tools and Transmission of Federal Reserve Monetary Policy in the 1920s," FEDS Notes 2016-11-22. Board of Governors of the Federal Reserve System (U.S.).
  • Calomiris, Charles W., and Mark Carlson (2016). "Corporate Governance and Risk Management at Unprotected Banks: National Banks in the 1890s," Journal of Financial Economics, vol. 119, no. 3, pp. 512-532.
  • Carlson, Mark, and David C. Wheelock (2016). "Interbank Markets and Banking Crises: New Evidence on the Establishment and Impact of the Federal Reserve," American Economic Review: Papers and Proceedings, vol. 106, no. 5, pp. 533-537.
  • Carlson, Mark, Burcu Duygan-Bump, Fabio Natalucci, Bill Nelson, Marcelo Ochoa, Jeremy Stein, and Skander Van den Heuvel (2016). "The Demand for Short-Term, Safe Assets and Financial Stability: Some Evidence and Implications for Central Bank Policies," International Journal of Central Banking, vol. 12, no. 4, pp. 307-333.
  • Carlson, Mark A., and David C. Wheelock (2016). "Navigating Constraints: The Evolution of Federal Reserve Monetary Policy, 1935-1959," in The Federal Reserve's Role in the Global Economy: A Historical Perspective, pp. 50-83. New York: Cambridge University Press.
  • Carlson, Mark (2015). "Lessons from the Historical Use of Reserve Requirements in the United States to Promote Bank Liquidity," International Journal of Central Banking, vol. 11, no. 1, pp. 191-224.
  • Carlson, Mark, and Jonathan D. Rose (2015). "Credit Availability and the Collapse of the Banking Sector in the 1930s," Journal of Money, Credit and Banking, vol. 47, no. 7. pp. 1239-1271.
  • Carlson, Mark A., and David C. Wheelock (2015). "The Lender of Last Resort: Lessons from the Fed's First 100 Years," in Current Federal Reserve Policy Under the Lens of Economic History: Essays to Commemorate the Federal Reserve System's Centennial, pp. 49-101. New York: Cambridge University Press.
  • Carlson, Mark, Burcu Duygan-Bump, and William R. Nelson (2015). "Why Do We Need Both Liquidity Regulations and a Lender of Last Resort? A Perspective from Federal Reserve Lending during the 2007-09 U.S. Financial Crisis," Finance and Economics Discussion Series 2015-011. Board of Governors of the Federal Reserve System (U.S.).
  • Calomiris, Charles W., and Mark Carlson (2014). "National Bank Examinations and Operations in the Early 1890s," Finance and Economics Discussion Series 2014-19. Board of Governors of the Federal Reserve System (U.S.).
  • Carlson, Mark, Kurt F. Lewis, and William R. Nelson (2014). "Using Policy Intervention to Identify Financial Stress," International Journal of Finance & Economics, vol. 19, no. 1, pp. 59-72.
  • Carlson, Mark, Hui Shan, and Missaka Warusawitharana (2013). "Capital Ratios and Bank Lending: A Matched Bank Approach," Journal of Financial Intermediation, vol. 22, no. 4, pp. 663-687.
  • Carlson, Mark (2013). "The Panic of 1893," in Parker, Randall, Robert Whaples eds., Routledge Handbook of Major Events in Economic History. Routledge, pp. 40-50.
  • Carlson, Mark, Kris James Mitchener, and Gary Richardson (2011). "Arresting Banking Panics: Federal Reserve Liquidity Provision and the Forgotten Panic of 1929," Journal of Political Economy, vol. 119, no. 5, pp. 889-924.
  • Carlson, Mark A., Thomas B. King, and Kurt F. Lewis (2011). "Distress in the Financial Sector and Economic Activity," B.E. Journal of Economic Analysis & Policy, Vol. 11, no. 1, Article 35.
  • Carlson, Mark, and Kris James Mitchener (2009). "Branch Banking as a Device for Discipline: Competition and Bank Survivorship during the Great Depression," Journal of Political Economy, vol. 117, no. 2, pp. 165-210.
  • Carlson, Mark (2010). "Alternatives for Distressed Banks during the Great Depression," Journal of Money, Credit, and Banking, vol. 42, no. 2-3, pp. 421-441.
  • Carlson, Mark, and Jason Steinman (2008). "Market Conditions and Hedge Fund Survival," Finance and Economics Discussion Series 2008-28. Board of Governors of the Federal Reserve System (U.S.).
  • Carlson, Mark (2007). "A Brief History of the 1987 Stock Market Crash: With a Discussion of the Federal Reserve Response," Finance and Economics Discussion Series 2007-13. Board of Governors of the Federal Reserve System (U.S.).
  • Carlson, Mark, and Gretchen C. Weinbach (2007). "Profits and Balance Sheet Developments at U.S. Commercial Banks in 2006," Federal Reserve Bulletin, vol. 93, pp. A37-71.
  • Carlson, Mark, and Galina B. Hale (2006). "Rating Agencies and Sovereign Debt Rollover," B.E. Journals in Macroeconomics: Topics in Macroeconomics, vol. 6, no. 2, pp. 1-30.
  • Carlson, Mark, and Kris James Mitchener (2006). "Branch Banking, Bank Competition, and Financial Stability," Journal of Money, Credit, and Banking, vol. 38, no. 5, pp. 1293-1328.
  • Carlson, Mark (2005). "Causes of Bank Suspensions in the Panic of 1893," Explorations in Economic History, vol. 42, no. 1, pp. 56-80.
  • Carlson, Mark (2004). "Are Branch Banks Better Survivors? Evidence from the Depression Era," Economic inquiry, vol. 42, no. 1, pp. 111-126.
  • Carlson, Mark, and Roberto Perli (2004). "Profits and Balance Sheet Developments at U.S. Commercial Banks in 2003," Federal Reserve Bulletin, vol. 90, no. 2, pp. 162-191.
  • Basset, William F., and Mark Carlson (2002). "Profits and Balance Sheet Developments at U.S. Commercial Banks in 2001," Federal Reserve Bulletin, vol. 88, no. 6, pp. 259-288.
  • Carlson, Mark, and Leonardo Hernandez (2002). "Determinants and Repercussions of the Composition of Capital Inflows," International Finance Discussion Papers 717. Board of Governors of the Federal Reserve System (U.S.).
Conference Organization

  • May 6-8, 2019 | Federal Reserve Board, Washington D.C.

    Workshop on Monetary and Financial History

    Co-organizer

Editor
  • Explorations in Economic History Editorial Board (2014-2017)
Referee
  • American Economic Review
  • Berkeley Economic Press
  • Cliometrica
  • Explorations in Economic History
  • International Journal of Central Banking
  • International Journal of Finance and Economics
  • Journal of Banking and Finance
  • Journal of Economic Dynamics and Control
  • Journal of Economic History
  • Journal of Finance
  • Journal of Financial Economics
  • Journal of Macroeconomics
  • Journal of Monetary Economics
  • Journal of Money, Credit, and Banking
  • Quarterly Journal of Economics
Professional Affiliation
  • American Economics Association
  • Economic History Association
Last update: September 14, 2020