Program on Financial Stability
Improving our understanding and management of systemic risk.
The Yale Program on Financial Stability (YPFS) was founded in 2013 to focus on the broad topics of systemic risk and macroprudential regulation.
In its early years, researchers at the YPFS authored dozens of case studies on these topics, and hosted an annual set of meetings to bring together policymakers from around the world. These activities covered both “peacetime” policies designed to prevent crises, and “wartime” policies designed to fight crises in progress.
Over the years, the program's activities have evolved beyond case writing to include the series of projects under our purview today.
A first-of-its-kind, specialized master’s degree for early- and mid-career employees of central banks and other major regulatory agencies with a mandate to manage systemic risk. The year-long program focuses in macroprudential policy, financial crisis management, global financial regulation, monetary economics, capital markets, and central banking.
The YPFS Systemic Risk blog is a curation of the latest research findings related to the topic of systemic risk. Original content authored by YPFS researchers that seeks to analyze recent policy interventions is also posted on a periodic basis.
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Research & Data
The YPFS is a leading purveyor of research on the topic of crises intervention. Our research materials are designed to engage a wide ranging audience, from the interested student to experienced policymaker. Our research collection includes the following offerings:
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