Journal of Financial Stability

2004 - 2026

Current editor(s): I. Hasan, W. C. Hunter and G. G. Kaufman

From Elsevier
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Volume 83, issue C, 2026

Social capital and stock price crash risk: cross-country evidence

Chrysovalantis Gaganis, George Leledakis, Fotios Pasiouras and Emmanouil G. Pyrgiotakis

A safe pair of hands? Bank CEO career experience and acquisition performance

Shaker Ahmed, Jens Hagendorff, Timothy King and Abhishek Srivastav

Biases in investor-paid credit ratings

Jianfu Shen, Gaiyan Zhang and Zunxin Zheng

Contagion, interdependence and global crisis: Evidence from equity markets

Christian Urom, Ilyes Abid, Khaled Guesmi and Samir Saadi

Decoding underprediction and anchoring in BEA's GDP backcasts

Geoffrey G. Booth, Polina Ellina and Panayiotis Theodossiou

Predictive multiplicity, procedural multiplicity, and heterogeneous machine learning ensembles in recovery rate forecasting

Martin T. Hibbeln, Raphael M. Kopp and Noah Urban

Lending relationships and boom–bust cycles

Vivek Sharma

Banks’ stock market reaction to prudential policy announcements: The role of central bank independence and financial stability sentiment

Andreea Maura Bobiceanu, Simona Nistor and Steven Ongena

Enough liquidity with enough capital—and vice versa?

Hans Gersbach, Hans Haller and Sebastian Zelzner

Diversification or distortion? The role of ETFs in retail investor portfolios and performance

Zheng Wu, P. Joakim Westerholm and Zhen Wang

Capital and liquidity interaction in banking

Jonathan Acosta-Smith, Guillaume Arnould, Sebastian J.A. De-Ramon, Kristoffer Milonas and Quynh-Anh Vo

Optimal CBDC design: A model with two access mechanisms and the role of anonymity

Julián Parra-Polanía and Constanza Martinez-Ventura

Learning, externality, and optimal financial regulation

Deepal Basak and Yunhui Zhao

Volume 82, issue C, 2026

Trade reforms and firm value: Worldwide evidence

Linghua Kong, Thomas To and Eliza Wu

Do municipalities pay more to issue unrated bonds?

Matthew Peppe and Haluk Unal

Commercial bank failures during the Great Recession: The real (estate) story

Adonis Antoniades

Different strokes for different banks: A heterogeneity analysis of Fed QE on bank lending

Marianna Blix Grimaldi and Supriya Kapoor

Whistleblowers and financial fraud

Oz Shy

Climate policy and international capital reallocation

Marius Fourné and Xiang Li

Culture as a catalyst: The impact of corporate culture on strategic alliances and equity market response

Kawser Ahmed Shiblu and Francesca Toscano

Stimulating credit through banks’ unsecured debt purchases: Insights from a non-traditional measure

Noam Michelson

The leverage of hedge funds and the risk of their prime brokers

Ariston Karagiorgis, Dimitrios Anastasiou, Konstantinos Drakos and Steven Ongena

Volume 81, issue C, 2025

Financial contagion within the interbank network

Christina D. Mikropoulou and Angelos Vouldis

A stablecoin that’s actually stable: A portfolio optimization approach

Klaus Grobys, Juha Junttila and James W. Kolari

Output floors in setting bank capital requirements

Adrian Pop and Diana Pop

Projected operating efficiencies, credit ratings and the creation of debt capacity

Ahmad K. Ismail and Assem Safieddine

Quantitative easing, bank lending, and aggregate fluctuations

Matthew Schaffer and Nimrod Segev

Systemic risk in centralised interbank networks

Mario Eboli

Intelligent financial system: How AI is transforming finance

Iñaki Aldasoro, Leonardo Gambacorta, Anton Korinek, Vatsala Shreeti and M. Stein

Corporate lobbying and US federal grants: Information in exchange for compensation

Rodrigo Londoño van Rutten

Negative rates, monetary policy transmission and cross-border lending via international financial centers

Desislava Andreeva, Andra Coman, Mary Everett, Maren Froemel, Kelvin Ho, Simon Lloyd, Baptiste Meunier, Justine Pedrono, Dennis Reinhardt, Andrew Wong, Eric Wong and Dawid Żochowski

Real effects of bank shocks

Vivek Sharma

CEO-employee pay disparity, risk-taking incentives, and financial reporting choices

Han Dai, Dahlia Robinson and Yi Shen

A second-order finite difference method for the Black–Scholes model without far-field boundary conditions

Jian Wang, Lin Wu, Xinpei Wu, Youngjin Hwang, Yunjae Nam, Soobin Kwak, Taehui Lee and Junseok Kim

Fading familiarity: High-speed rail and the decline in retail investors' attention to local firms

Liu Desheng, Mingsheng Li, Xinran Wang and Ying Wang

Unpacking the crisis: Impact of COVID-19 on global equity flows

Zhisheng Li, Bingxuan Lin, Zhouyi Liu and H. Zafer Yüksel

Debt maturity, creditor rights, and capital allocation efficiency: Evidence from quasi-natural experiments in India

Jyoti Ranjan Sahoo and Ajay Kumar Mishra

Volume 80, issue C, 2025

Real estate transaction taxes and credit supply

Michael Koetter, P. Marek and A. Mavropoulos

Negative nominal rates

Julio Dávila and Elizaveta Lukmanova

Designing credit-spread driven macroprudential rules

Pauline Gandré and Margarita Rubio

Risk shocks, due loans, and policy options: When less is more!

Paulo Júlio, José Maria and Sílvia Santos

Institutional distraction and illegal business practices: The role of career concerns and wealth incentives

Daniel Neukirchen, Gerrit Köchling and Peter N. Posch

Decomposing systemic risk: The roles of contagion and common exposures

Grzegorz Hałaj and Ruben Hipp

Understanding central bank responses to geopolitical risks: Evidence from the Fed and ECB

Evangelos Salachas, Georgios Kouretas and Nikiforos T. Laopodis

Artificial intelligence and financial crises

Jon Danielsson and Andreas Uthemann

The regulatory dialectic in bank-sponsored money market funds

Stefan Jacewitz, Jonathan Pogach, Haluk Unal and Chengjun Wu

Monetary policy transmission via nonbank lending: Evidence from peer-to-peer loans

Esteban Argudo

Non-blockholder dissatisfaction and firm performance volatility: A groupthink perspective

Jeong-Bon Kim, Johan Maharjan and Yijiang Zhao

Cross-listing, innovation and the role of nation-level institutions

Trung Do

Volume 79, issue C, 2025

On the origin of green finance policies

T.F. Cojoianu, D. French, A.G.F. Hoepner, Lisa Sheenan and A. Vu

Rise of NBFIs and the global structural change in the transmission of market shocks

Yoshihiko Hogen, Yoshiyasu Kasai and Yuji Shinozaki

Climate information disclosure quality and systemic risk in the U.S. banking industry

Zinan Hu and Sumuya Borjigin

Modeling the procyclical impact of monetary policy on bank leverage: A stochastic macroprudential approach

Juan F. Rendón, Lina M. Cortés and Javier Perote

Rapid bank runs and delayed policy responses

Ryuichiro Izumi and Yang Li

Systemic risk and oil price volatility shocks

Ioannis Chatziantoniou, Gonul Colak, Michail Filippidis, George Filis and Panagiotis Tzouvanas

Dissecting capital flows: Do capital controls shield against foreign shocks?

Kyongjun Kwak and Camilo Granados

ESG performance and bond return volatility

Zehua Zhang, Ran Zhao, Lu Zhu and Trevor Chamberlain

Are listed banks riskier than private banks?

Hamid Mehran, Ajay Patel and Nonna Sorokina