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Projects & Initiatives

Currently the YPFS is pursuing six core projects & initiatives that contribute to different elements of our mission to create, disseminate, and preserve knowledge about financial crises. These projects are as follows:

New Bagehot Project

The New Bagehot Project aims to expand the crisis-fighting playbook through detailed case studies of specific interventions, synthesizing these case studies into best practices, and then presenting this synthesis across a variety of media.

Learn more about the New Bagehot Project

Systemic Risk Institute

The Systemic Risk Institute consists of three interrelated events, held annually since 2014 during the summer months:

  • Research Conference: One-day conference with academic papers, with selected papers published in a special issue of The Journal of Financial Crises.
Journal of Financial Crises

The Journal of Financial Crises (JFC) is an online publication of the Yale Program on Financial Stability (YPFS), the mission of which is to create, preserve, and disseminate knowledge about financial crises. The Journal primarily serves as a vehicle for distributing the case studies and surveys of crisis interventions produced by the YPFS staff. We will also publish other work related to systemic risks and financial crises in a variety of formats and styles including: Articles, Archive Notes, case studies, surveys, and Lessons Learned, as further described on the JFC website.

We encourage submissions from outside of Yale. For these submissions, we hope to be an outlet for descriptive and policy-relevant research that might not fit the template of a traditional academic journal.  In particular, we aim to publish the useful research done in Central Banks and international agencies that deserves wider distribution. Submissions are reviewed by journal editors and YPFS staff —we will not ordinarily use external referees.

We are international in scope and seek content addressing recent or past financial crises that occur anywhere in the world, in developed and emerging markets. Our audience is primarily central banks, financial regulators, other policy makers, and scholars of financial crises.

Visit the Journal of Financial Crises Homepage

Lessons Learned Oral History Project

Through the Lessons Learned Oral History Project, we attempt to grasp how regulators and policymakers prevent, diagnose, and combat rare and unprecedented crises events. We are interviewing key participants in the efforts by the U.S. and other governments to stem crises, starting with recent crises, such as the Global Financial Crisis of 2007-09 (GFC), and the economic impacts of the COVID Pandemic.

Browse the Lessons Learned Oral History Project Interview Archive

Get answers to frequently asked questions about the Lessons Learned Oral History Project

Global Financial Crisis Project

The Global Financial Crisis project has an educational mission: to make the major financial crisis of our century intelligible to as many people as possible.  To this end, the project incorporates on-campus programs at Yale, online instruction through the Coursera platform, and an in-development collection of electronic teaching resources

Financial Crises Archives Project

The Financial Crises Archives Project is designed to be a resource for scholars of financial crises. You can visit the YPFS Resource Library to browse an expanding set of crisis-related resources maintained on the YPFS website, including an (in-development) annotated bibliography of academic papers on financial crises.

YPFS Project diagram