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Mark L. J. Wright

Senior Vice President (July 2022)


BA Economics
University of Sydney, Australia

MA Economics
University of Chicago

PhD Economics
University of Chicago

Contact Info

Fax: (314) 444-8731

Research Division
Federal Reserve Bank of St. Louis
P.O. Box 442
St. Louis, MO 63166-0442

Mark L. J. Wright

Senior Vice President (July 2022)

Journal Publications

"Deconstructing Delays in Sovereign Debt Restructuring"
Oxford Economic Papers, 2019, Vol. 71, No. 2, pp. 382-404

"Bad Investments and Missed Opportunities? Postwar Capital Flows to Asia and Latin America"
with  Lee E. Ohanian and Paulina Restrepo-Echavarria
American Economic Review, December 2018, Vol. 108, No. 12, pp. 3541-82
Working Paper

"USA-Steuerreform 2018: Steuern und Sozialabgaben im Vergleich mit Deutschland"
with  Lorenz J. Jarass and  Anthony E. Tokman
Zeitschrift für Internationales Steuerrecht, 2018, Vol. 4, pp. 143-155

"The Effects of U.S. Tax Reform: Comparing Taxes and Social Contributions in the U.S. and Germany"
with  Lorenz J. Jarass and  Anthony E. Tokman
Tax Notes International, 2018, Vol. 89, No. 5, pp. 433-447

"Restructuring Venezuela's Debt: Lessons from the Past and Implications for the Future"
with  Alvarez, Camilo and  Daniel A. Dias
Journal of Investing, 2018, Vol. 27, No. 3, pp. 74-79

"Under-insurance in Human Capital Models with Limited Enforcement"
with  Tom Krebs and  Moritz Kuhn
Review of Economic Dynamics, 2017, Vol. 25, pp. 121-150

"Steuern und Sozialabgaben in den USA und in Deutschland"
with  Lorenz J. Jarass and  Anthony E. Tokman
Betriebs-Berater, 2017, Vol. 48, pp. 2839-2846

"Settlement Games with Rank-Order Payoffs and Applications to Sovereign Debt Restructuring"
with  Rohan Pitchford
Economic Theory, 2017, Vol. 64, No. 4, pp. 847-876

"External and Public Debt Crises."
with  Christina Arellano and  Andrew Atkeson
NBER Macroeconomics Annual, 2015, Vol. 30, pp. 191-244

"Human Capital Risk, Contract Enforcement, and the Macroeconomy"
with  Tom Krebs and  Moritz Kuhn
American Economic Review, 2015, Vol. 105, No. 11, pp. 3223-3272

"The Stock of External Sovereign Debt: Can We Take the Data at 'Face Value'?"
with  Daniel A. Dias and  Christine Richmond
Journal of International Economics, 2014, Vol. 94, No. 1, pp. 1-17

"Interpreting the Pari Passu Clause in Sovereign Bond Contracts: It is All Hebrew (and Aramaic) to Me"
Capital Markets Law Journal, 2014, Vol. 9, No. 3, pp. 259-265

"Comment on `Sovereign Debt Markets in Turbulent Times: Creditor Discrimination and Crowding-Out Effects” by Broner, Erce, Martin and Ventura"
Journal of Monetary Economics, 2014, Vol. 61, pp. 143-147

"The Costs of Financial Crises: Resource Misallocation, Productivity and Welfare in the 2001 Argentine Crisis"
with  Guido Sandleris
Scandinavian Journal of Economics, 2013, Vol. 116, No. 1, pp. 87-127

"On The Contribution of Game Theory to the Study of Sovereign Debt and Default"
with  Rohan Pitchford
Oxford Review of Economic Policy, 2013, Vol. 29, No. 4, pp. 649-667

"Empirical Research on Sovereign Debt and Default"
with  Michael Tomz
Annual Review of Economics, 2013, Vol. 5, pp. 247-272

"Holdouts in Sovereign Debt Restructuring: A Theory of Negotiation in a Weak Contractual Environment"
with  Rohan Pitchford
Review of Economic Studies, April 2012, Vol. 79, No. 2, pp. 812-837

"Sovereign Debt Restructuring: Problems and Prospects"
Harvard Business Law Review, 2012, Vol. 2, No. 1, pp. 153-197

"The Pari Passu Clause in Sovereign Bond Contracts: Evolution or Intelligent Design?"
Hofstra Law Review, Fall 2011, Vol. 40, No. 1, pp. 103-114

"Capital Flows and Macroeconomic Performance: Lessons from the Golden Era of International Finance"
with  Lee E. Ohanian
American Economic Review: Papers and Proceedings, May 2010, Vol. 100, No. 2, pp. 68-72

"Establishment Size Dynamics in the Aggregate Economy"
with  Esteban Rossi-Hansberg
American Economic Review, December 2007, Vol. 97, No. 5, pp. 1639-1666

"Do Countries Default in “Bad times”?"
with  Michael Tomz
Journal of the European Economic Association, May, Vol. 5, No. 2-3, pp. 352–360

"Urban Structure and Growth"
with  Esteban Rossi-Hansberg
Review of Economic Studies, April, Vol. 74, No. 2, pp. 597–624

"Private capital flows, capital controls, and default risk"
Journal of International Economics, June, Vol. 69, No. 1, pp. 120-149

"Coordinating Creditors"
American Economic Review, May, Vol. 95, No. 2, pp. 388-392