Stephan Jank

Stephan Jank is a senior research economist at the Deutsche Bundesbank's Research Centre, focusing on investor behavior, financial stability, and market microstructure. His work emphasizes short selling dynamics, mutual fund flows, and the interplay between fiscal policy and financial markets. He has contributed to understanding the effects of regulatory disclosure rules on short sellers and explored how fiscal constraints during crises impact corporate equity pricing.

Key research areas include securities lending, collateral scarcity in repo markets, and systemic risks arising from mutual fund externalities. His studies on the Eurosystem's bond purchases and central bank interventions highlight mechanisms to mitigate market illiquidity. Jank's work also addresses how institutional investors' trading behaviors create financial stability concerns, particularly through flow-driven externalities in open-ended funds.

Notable contributions include analysis of short sellers' anticipation of fiscal space limitations during the 2020 pandemic and the role of retail order flow in market dynamics. His research often bridges macroeconomic policy and micro-level investor behavior, with implications for regulatory design and financial market resilience.