{"id":"https://openalex.org/W3126076368","doi":"https://doi.org/10.1093/rfs/hhu023","title":"Heterogeneity and Stability: Bolster the Strong, Not the Weak","display_name":"Heterogeneity and Stability: Bolster the Strong, Not the Weak","publication_year":2014,"publication_date":"2014-04-04","ids":{"openalex":"https://openalex.org/W3126076368","doi":"https://doi.org/10.1093/rfs/hhu023","mag":"3126076368"},"language":"en","primary_location":{"id":"doi:10.1093/rfs/hhu023","doi":"https://doi.org/10.1093/rfs/hhu023","is_oa":false,"landing_page_url":"https://doi.org/10.1093/rfs/hhu023","pdf_url":null,"source":{"id":"https://openalex.org/S170137484","display_name":"Review of Financial Studies","issn_l":"0893-9454","issn":["0893-9454","1465-7368"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","erih-plus","fnege-1-star","ft50","jufo-3","norway-2","poland-200","russia-white-list-1","utd24","vabb-shw"],"host_organization":"https://openalex.org/P4310311648","host_organization_name":"Oxford University Press","host_organization_lineage":["https://openalex.org/P4310311648","https://openalex.org/P4310311647"],"host_organization_lineage_names":["Oxford University Press","University of Oxford"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Review of Financial Studies","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5083678085","display_name":"Dong Beom Choi","orcid":"https://orcid.org/0000-0002-1878-3942","observed_orcids":["https://orcid.org/0000-0002-1878-3942"]},"institutions":[{"id":"https://openalex.org/I43638361","display_name":"Federal Reserve Bank of New York","ror":"https://ror.org/05hwvzg47","country_code":"US","type":"other","lineage":["https://openalex.org/I1317239608","https://openalex.org/I43638361"]}],"countries":["US"],"is_corresponding":true,"raw_author_name":"Dong Beom Choi","raw_affiliation_strings":["Federal Reserve Bank of New York, Research and Statistics Group"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Federal Reserve Bank of New York, Research and Statistics Group","institution_ids":["https://openalex.org/I43638361"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":["https://openalex.org/A5083678085"],"corresponding_institution_ids":["https://openalex.org/I43638361"],"apc_list":{"value":4028,"currency":"USD","value_usd":4028},"apc_paid":null,"fwci":6.1016,"has_fulltext":false,"cited_by_count":54,"citation_normalized_percentile":{"value":0.96108295,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":88,"max":99},"biblio":{"volume":"27","issue":"6","first_page":"1830","last_page":"1867"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10127","display_name":"Banking stability, regulation, efficiency","score":0.9657999873161316,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10127","display_name":"Banking stability, regulation, efficiency","score":0.9657999873161316,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10503","display_name":"Global Financial Crisis and Policies","score":0.008299999870359898,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12137","display_name":"Economic theories and models","score":0.008200000040233135,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/systemic-risk","display_name":"systemic risk","score":0.5929999947547913},{"id":"https://openalex.org/keywords/financial-contagion","display_name":"financial contagion","score":0.7710000276565552},{"id":"https://openalex.org/keywords/heterogeneous-agents","display_name":"heterogeneous agents","score":0.7070000171661377},{"id":"https://openalex.org/keywords/fragility","display_name":"fragility","score":0.9010000228881836},{"id":"https://openalex.org/keywords/coordination-problems","display_name":"coordination problems","score":0.7129999995231628},{"id":"https://openalex.org/keywords/financial-spillovers","display_name":"financial spillovers","score":0.828000009059906},{"id":"https://openalex.org/keywords/systemic-stability","display_name":"systemic stability","score":0.7300000190734863},{"id":"https://openalex.org/keywords/market-exit","display_name":"market exit","score":0.4339999854564667},{"id":"https://openalex.org/keywords/financial-institutions","display_name":"financial institutions","score":0.4009999930858612}],"concepts":[{"id":"https://openalex.org/C38935604","wikidata":"https://www.wikidata.org/wiki/Q4330363","display_name":"Stylized fact","level":2,"score":0.957581639289856},{"id":"https://openalex.org/C144587487","wikidata":"https://www.wikidata.org/wiki/Q1369234","display_name":"Systemic risk","level":3,"score":0.8640589714050293},{"id":"https://openalex.org/C80191262","wikidata":"https://www.wikidata.org/wiki/Q5477668","display_name":"Fragility","level":2,"score":0.6596910357475281},{"id":"https://openalex.org/C2780712732","wikidata":"https://www.wikidata.org/wiki/Q208450","display_name":"Panic","level":3,"score":0.6478251814842224},{"id":"https://openalex.org/C2781332510","wikidata":"https://www.wikidata.org/wiki/Q5449713","display_name":"Financial fragility","level":3,"score":0.5362410545349121},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.5249428749084473},{"id":"https://openalex.org/C2992337254","wikidata":"https://www.wikidata.org/wiki/Q31275820","display_name":"Financial stability","level":2,"score":0.42857271432876587},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.40824729204177856},{"id":"https://openalex.org/C2778300220","wikidata":"https://www.wikidata.org/wiki/Q114380","display_name":"Financial crisis","level":2,"score":0.3664323091506958},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.35730886459350586},{"id":"https://openalex.org/C73283319","wikidata":"https://www.wikidata.org/wiki/Q1416617","display_name":"Financial system","level":1,"score":0.20928388833999634},{"id":"https://openalex.org/C15744967","wikidata":"https://www.wikidata.org/wiki/Q9418","display_name":"Psychology","level":0,"score":0.11493358016014099},{"id":"https://openalex.org/C139719470","wikidata":"https://www.wikidata.org/wiki/Q39680","display_name":"Macroeconomics","level":1,"score":0.09608915448188782},{"id":"https://openalex.org/C558461103","wikidata":"https://www.wikidata.org/wiki/Q154430","display_name":"Anxiety","level":2,"score":0.07320705056190491},{"id":"https://openalex.org/C147789679","wikidata":"https://www.wikidata.org/wiki/Q11372","display_name":"Physical chemistry","level":1,"score":0.0},{"id":"https://openalex.org/C185592680","wikidata":"https://www.wikidata.org/wiki/Q2329","display_name":"Chemistry","level":0,"score":0.0},{"id":"https://openalex.org/C118552586","wikidata":"https://www.wikidata.org/wiki/Q7867","display_name":"Psychiatry","level":1,"score":0.0}],"mesh":[],"locations_count":3,"locations":[{"id":"doi:10.1093/rfs/hhu023","doi":"https://doi.org/10.1093/rfs/hhu023","is_oa":false,"landing_page_url":"https://doi.org/10.1093/rfs/hhu023","pdf_url":null,"source":{"id":"https://openalex.org/S170137484","display_name":"Review of Financial Studies","issn_l":"0893-9454","issn":["0893-9454","1465-7368"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","erih-plus","fnege-1-star","ft50","jufo-3","norway-2","poland-200","russia-white-list-1","utd24","vabb-shw"],"host_organization":"https://openalex.org/P4310311648","host_organization_name":"Oxford University Press","host_organization_lineage":["https://openalex.org/P4310311648","https://openalex.org/P4310311647"],"host_organization_lineage_names":["Oxford University Press","University of Oxford"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Review of Financial Studies","raw_type":"journal-article"},{"id":"pmh:oai:RePEc:oup:rfinst:v:27:y:2014:i:6:p:1830-1867.","doi":null,"is_oa":false,"landing_page_url":"http://hdl.handle.net/10.1093/rfs/hhu023","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"},{"id":"pmh:oai:open-archive.highwire.org:revfin:27/6/1830","doi":null,"is_oa":false,"landing_page_url":"http://rfs.oxfordjournals.org/cgi/content/short/27/6/1830","pdf_url":null,"source":{"id":"https://openalex.org/S4406923041","display_name":"HighWire Press Open Archive","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"","raw_type":"TEXT"}],"best_oa_location":null,"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":66,"referenced_works":["https://openalex.org/W1491069747","https://openalex.org/W1499550068","https://openalex.org/W1515692514","https://openalex.org/W1525867147","https://openalex.org/W1537143241","https://openalex.org/W1542657792","https://openalex.org/W1559496943","https://openalex.org/W1933529014","https://openalex.org/W2003324563","https://openalex.org/W2019222975","https://openalex.org/W2045021986","https://openalex.org/W2050031929","https://openalex.org/W2062809408","https://openalex.org/W2069666581","https://openalex.org/W2086404008","https://openalex.org/W2097003808","https://openalex.org/W2099541723","https://openalex.org/W2104723218","https://openalex.org/W2105973145","https://openalex.org/W2118624385","https://openalex.org/W2128679884","https://openalex.org/W2133640915","https://openalex.org/W2140825224","https://openalex.org/W2142608071","https://openalex.org/W2142889277","https://openalex.org/W2146149209","https://openalex.org/W2152615730","https://openalex.org/W2152947363","https://openalex.org/W2154044885","https://openalex.org/W2156625082","https://openalex.org/W2157509893","https://openalex.org/W2163584313","https://openalex.org/W2164943759","https://openalex.org/W2285205179","https://openalex.org/W2553129086","https://openalex.org/W2614148263","https://openalex.org/W2743415901","https://openalex.org/W2914689603","https://openalex.org/W2991953046","https://openalex.org/W2994508145","https://openalex.org/W3021890151","https://openalex.org/W3022974258","https://openalex.org/W3121630491","https://openalex.org/W3122023555","https://openalex.org/W3122321166","https://openalex.org/W3122381644","https://openalex.org/W3122576247","https://openalex.org/W3122597312","https://openalex.org/W3122666528","https://openalex.org/W3122898452","https://openalex.org/W3123115626","https://openalex.org/W3123596003","https://openalex.org/W3123686250","https://openalex.org/W3123703631","https://openalex.org/W3123729571","https://openalex.org/W3124066230","https://openalex.org/W3124914565","https://openalex.org/W3124924333","https://openalex.org/W3125744792","https://openalex.org/W3126074134","https://openalex.org/W3126113144","https://openalex.org/W4236584637","https://openalex.org/W4241749579","https://openalex.org/W4248503640","https://openalex.org/W4300476520","https://openalex.org/W6682859960"],"related_works":["https://openalex.org/W3012149187","https://openalex.org/W7100130160","https://openalex.org/W3126679463","https://openalex.org/W3124317733","https://openalex.org/W7099923969","https://openalex.org/W3013479509","https://openalex.org/W3215357441","https://openalex.org/W3124122803","https://openalex.org/W2047098017","https://openalex.org/W2237181973"],"abstract_inverted_index":{"We":[0,38],"first":[1],"study":[2],"a":[3,41,63],"stylized":[4],"model":[5,42],"of":[6,24,43,94],"self-fulfilling":[7],"panic":[8,28,45],"among":[9,46],"agents":[10],"with":[11,49],"differing":[12],"fragilities":[13,51],"to":[14,52,70,76],"strategic":[15,60],"risk":[16,87],"and":[17],"show":[18],"that":[19],"depending":[20],"on":[21,34,91],"the":[22,27,72,97,104,108],"severity":[23],"coordination":[25],"problems,":[26],"trigger":[29],"threshold":[30],"can":[31,88],"depend":[32,90],"only":[33],"one":[35,68],"type's":[36],"fragility.":[37],"then":[39],"present":[40],"systemic":[44,86,113],"financial":[47,53,80,92],"institutions":[48],"heterogeneous":[50],"spillovers.":[54,78],"Concerns":[55],"about":[56],"potential":[57],"spillovers":[58],"generate":[59],"interaction,":[61],"triggering":[62],"pre-emption":[64],"game":[65],"in":[66,83,96],"which":[67],"tries":[69],"exit":[71],"market":[73],"before":[74],"others":[75],"avoid":[77],"Although":[79],"contagion":[81,98],"originates":[82],"weaker":[84],"institutions,":[85],"critically":[89],"health":[93],"stronger":[95],"chain.":[99],"In":[100],"this":[101],"case,":[102],"bolstering":[103],"strong,":[105],"rather":[106],"than":[107],"weak,":[109],"more":[110],"effectively":[111],"enhances":[112],"stability.":[114]},"counts_by_year":[{"year":2026,"cited_by_count":2},{"year":2025,"cited_by_count":3},{"year":2024,"cited_by_count":3},{"year":2023,"cited_by_count":5},{"year":2022,"cited_by_count":6},{"year":2021,"cited_by_count":1},{"year":2020,"cited_by_count":10},{"year":2019,"cited_by_count":9},{"year":2018,"cited_by_count":5},{"year":2017,"cited_by_count":5},{"year":2016,"cited_by_count":3},{"year":2015,"cited_by_count":2}],"updated_date":"2026-10-16T09:59:22.235173","created_date":"2021-02-01T00:00:00"}
