CINXE.COM

<!DOCTYPE html> <html lang="en" dir="ltr" prefix="og: https://ogp.me/ns#"> <head> <meta charset="utf-8" /><script type="text/javascript">(window.NREUM||(NREUM={})).init={privacy:{cookies_enabled:true},ajax:{deny_list:["bam.nr-data.net"]},distributed_tracing:{enabled:true}};(window.NREUM||(NREUM={})).loader_config={agentID:"1120029812",accountID:"3387486",trustKey:"66686",xpid:"VwUPVlJbDhAJU1lXAgYOUFM=",licenseKey:"NRJS-9a9cccb33f0fcc3edf9",applicationID:"978557967"};;/*! For license information please see nr-loader-spa-1.274.0.min.js.LICENSE.txt */ (()=>{var e,t,r={8122:(e,t,r)=>{"use strict";r.d(t,{a:()=>i});var n=r(944);function i(e,t){try{if(!e||"object"!=typeof e)return(0,n.R)(3);if(!t||"object"!=typeof t)return(0,n.R)(4);const r=Object.create(Object.getPrototypeOf(t),Object.getOwnPropertyDescriptors(t)),o=0===Object.keys(r).length?e:r;for(let a in o)if(void 0!==e[a])try{if(null===e[a]){r[a]=null;continue}Array.isArray(e[a])&&Array.isArray(t[a])?r[a]=Array.from(new Set([...e[a],...t[a]])):"object"==typeof e[a]&&"object"==typeof t[a]?r[a]=i(e[a],t[a]):r[a]=e[a]}catch(e){(0,n.R)(1,e)}return r}catch(e){(0,n.R)(2,e)}}},2555:(e,t,r)=>{"use strict";r.d(t,{Vp:()=>c,fn:()=>s,x1:()=>u});var n=r(384),i=r(8122);const o={beacon:n.NT.beacon,errorBeacon:n.NT.errorBeacon,licenseKey:void 0,applicationID:void 0,sa:void 0,queueTime:void 0,applicationTime:void 0,ttGuid:void 0,user:void 0,account:void 0,product:void 0,extra:void 0,jsAttributes:{},userAttributes:void 0,atts:void 0,transactionName:void 0,tNamePlain:void 0},a={};function s(e){try{const t=c(e);return!!t.licenseKey&&!!t.errorBeacon&&!!t.applicationID}catch(e){return!1}}function c(e){if(!e)throw new Error("All info objects require an agent identifier!");if(!a[e])throw new Error("Info for ".concat(e," was never set"));return a[e]}function u(e,t){if(!e)throw new Error("All info objects require an agent identifier!");a[e]=(0,i.a)(t,o);const r=(0,n.nY)(e);r&&(r.info=a[e])}},9417:(e,t,r)=>{"use strict";r.d(t,{D0:()=>h,gD:()=>g,xN:()=>p});var n=r(993);const i=e=>{if(!e||"string"!=typeof e)return!1;try{document.createDocumentFragment().querySelector(e)}catch{return!1}return!0};var o=r(2614),a=r(944),s=r(384),c=r(8122);const u="[data-nr-mask]",d=()=>{const e={mask_selector:"*",block_selector:"[data-nr-block]",mask_input_options:{color:!1,date:!1,"datetime-local":!1,email:!1,month:!1,number:!1,range:!1,search:!1,tel:!1,text:!1,time:!1,url:!1,week:!1,textarea:!1,select:!1,password:!0}};return{ajax:{deny_list:void 0,block_internal:!0,enabled:!0,harvestTimeSeconds:10,autoStart:!0},distributed_tracing:{enabled:void 0,exclude_newrelic_header:void 0,cors_use_newrelic_header:void 0,cors_use_tracecontext_headers:void 0,allowed_origins:void 0},feature_flags:[],generic_events:{enabled:!0,harvestTimeSeconds:30,autoStart:!0},harvest:{tooManyRequestsDelay:60},jserrors:{enabled:!0,harvestTimeSeconds:10,autoStart:!0},logging:{enabled:!0,harvestTimeSeconds:10,autoStart:!0,level:n.p_.INFO},metrics:{enabled:!0,autoStart:!0},obfuscate:void 0,page_action:{enabled:!0},page_view_event:{enabled:!0,autoStart:!0},page_view_timing:{enabled:!0,harvestTimeSeconds:30,autoStart:!0},performance:{capture_marks:!1,capture_measures:!1},privacy:{cookies_enabled:!0},proxy:{assets:void 0,beacon:void 0},session:{expiresMs:o.wk,inactiveMs:o.BB},session_replay:{autoStart:!0,enabled:!1,harvestTimeSeconds:60,preload:!1,sampling_rate:10,error_sampling_rate:100,collect_fonts:!1,inline_images:!1,fix_stylesheets:!0,mask_all_inputs:!0,get mask_text_selector(){return e.mask_selector},set mask_text_selector(t){i(t)?e.mask_selector="".concat(t,",").concat(u):""===t||null===t?e.mask_selector=u:(0,a.R)(5,t)},get block_class(){return"nr-block"},get ignore_class(){return"nr-ignore"},get mask_text_class(){return"nr-mask"},get block_selector(){return e.block_selector},set block_selector(t){i(t)?e.block_selector+=",".concat(t):""!==t&&(0,a.R)(6,t)},get mask_input_options(){return e.mask_input_options},set mask_input_options(t){t&&"object"==typeof t?e.mask_input_options={...t,password:!0}:(0,a.R)(7,t)}},session_trace:{enabled:!0,harvestTimeSeconds:10,autoStart:!0},soft_navigations:{enabled:!0,harvestTimeSeconds:10,autoStart:!0},spa:{enabled:!0,harvestTimeSeconds:10,autoStart:!0},ssl:void 0,user_actions:{enabled:!0}}},l={},f="All configuration objects require an agent identifier!";function h(e){if(!e)throw new Error(f);if(!l[e])throw new Error("Configuration for ".concat(e," was never set"));return l[e]}function p(e,t){if(!e)throw new Error(f);l[e]=(0,c.a)(t,d());const r=(0,s.nY)(e);r&&(r.init=l[e])}function g(e,t){if(!e)throw new Error(f);var r=h(e);if(r){for(var n=t.split("."),i=0;i<n.length-1;i++)if("object"!=typeof(r=r[n[i]]))return;r=r[n[n.length-1]]}return r}},5603:(e,t,r)=>{"use strict";r.d(t,{a:()=>c,o:()=>s});var n=r(384),i=r(8122);const o={accountID:void 0,trustKey:void 0,agentID:void 0,licenseKey:void 0,applicationID:void 0,xpid:void 0},a={};function s(e){if(!e)throw new Error("All loader-config objects require an agent identifier!");if(!a[e])throw new Error("LoaderConfig for ".concat(e," was never set"));return a[e]}function c(e,t){if(!e)throw new Error("All loader-config objects require an agent identifier!");a[e]=(0,i.a)(t,o);const r=(0,n.nY)(e);r&&(r.loader_config=a[e])}},3371:(e,t,r)=>{"use strict";r.d(t,{V:()=>f,f:()=>l});var n=r(8122),i=r(384),o=r(6154),a=r(9324);let s=0;const c={buildEnv:a.F3,distMethod:a.Xs,version:a.xv,originTime:o.WN},u={customTransaction:void 0,disabled:!1,isolatedBacklog:!1,loaderType:void 0,maxBytes:3e4,onerror:void 0,ptid:void 0,releaseIds:{},appMetadata:{},session:void 0,denyList:void 0,timeKeeper:void 0,obfuscator:void 0},d={};function l(e){if(!e)throw new Error("All runtime objects require an agent identifier!");if(!d[e])throw new Error("Runtime for ".concat(e," was never set"));return d[e]}function f(e,t){if(!e)throw new Error("All runtime objects require an agent identifier!");d[e]={...(0,n.a)(t,u),...c},Object.hasOwnProperty.call(d[e],"harvestCount")||Object.defineProperty(d[e],"harvestCount",{get:()=>++s});const r=(0,i.nY)(e);r&&(r.runtime=d[e])}},9324:(e,t,r)=>{"use strict";r.d(t,{F3:()=>i,Xs:()=>o,Yq:()=>a,xv:()=>n});const n="1.274.0",i="PROD",o="CDN",a="^2.0.0-alpha.17"},6154:(e,t,r)=>{"use strict";r.d(t,{A4:()=>s,OF:()=>d,RI:()=>i,WN:()=>h,bv:()=>o,gm:()=>a,lR:()=>f,m:()=>u,mw:()=>c,sb:()=>l});var n=r(1863);const i="undefined"!=typeof window&&!!window.document,o="undefined"!=typeof WorkerGlobalScope&&("undefined"!=typeof self&&self instanceof WorkerGlobalScope&&self.navigator instanceof WorkerNavigator||"undefined"!=typeof globalThis&&globalThis instanceof WorkerGlobalScope&&globalThis.navigator instanceof WorkerNavigator),a=i?window:"undefined"!=typeof WorkerGlobalScope&&("undefined"!=typeof self&&self instanceof WorkerGlobalScope&&self||"undefined"!=typeof globalThis&&globalThis instanceof WorkerGlobalScope&&globalThis),s="complete"===a?.document?.readyState,c=Boolean("hidden"===a?.document?.visibilityState),u=""+a?.location,d=/iPad|iPhone|iPod/.test(a.navigator?.userAgent),l=d&&"undefined"==typeof SharedWorker,f=(()=>{const e=a.navigator?.userAgent?.match(/Firefox[/\s](\d+\.\d+)/);return Array.isArray(e)&&e.length>=2?+e[1]:0})(),h=Date.now()-(0,n.t)()},7295:(e,t,r)=>{"use strict";r.d(t,{Xv:()=>a,gX:()=>i,iW:()=>o});var n=[];function i(e){if(!e||o(e))return!1;if(0===n.length)return!0;for(var t=0;t<n.length;t++){var r=n[t];if("*"===r.hostname)return!1;if(s(r.hostname,e.hostname)&&c(r.pathname,e.pathname))return!1}return!0}function o(e){return void 0===e.hostname}function a(e){if(n=[],e&&e.length)for(var t=0;t<e.length;t++){let r=e[t];if(!r)continue;0===r.indexOf("http://")?r=r.substring(7):0===r.indexOf("https://")&&(r=r.substring(8));const i=r.indexOf("/");let o,a;i>0?(o=r.substring(0,i),a=r.substring(i)):(o=r,a="");let[s]=o.split(":");n.push({hostname:s,pathname:a})}}function s(e,t){return!(e.length>t.length)&&t.indexOf(e)===t.length-e.length}function c(e,t){return 0===e.indexOf("/")&&(e=e.substring(1)),0===t.indexOf("/")&&(t=t.substring(1)),""===e||e===t}},1687:(e,t,r)=>{"use strict";r.d(t,{Ak:()=>c,Ze:()=>l,x3:()=>u});var n=r(7836),i=r(3606),o=r(860),a=r(2646);const s={};function c(e,t){const r={staged:!1,priority:o.P3[t]||0};d(e),s[e].get(t)||s[e].set(t,r)}function u(e,t){e&&s[e]&&(s[e].get(t)&&s[e].delete(t),h(e,t,!1),s[e].size&&f(e))}function d(e){if(!e)throw new Error("agentIdentifier required");s[e]||(s[e]=new Map)}function l(e="",t="feature",r=!1){if(d(e),!e||!s[e].get(t)||r)return h(e,t);s[e].get(t).staged=!0,f(e)}function f(e){const t=Array.from(s[e]);t.every((([e,t])=>t.staged))&&(t.sort(((e,t)=>e[1].priority-t[1].priority)),t.forEach((([t])=>{s[e].delete(t),h(e,t)})))}function h(e,t,r=!0){const o=e?n.ee.get(e):n.ee,s=i.i.handlers;if(!o.aborted&&o.backlog&&s){if(r){const e=o.backlog[t],r=s[t];if(r){for(let t=0;e&&t<e.length;++t)p(e[t],r);Object.entries(r).forEach((([e,t])=>{Object.values(t||{}).forEach((t=>{t[0]?.on&&t[0]?.context()instanceof a.y&&t[0].on(e,t[1])}))}))}}o.isolatedBacklog||delete s[t],o.backlog[t]=null,o.emit("drain-"+t,[])}}function p(e,t){var r=e[1];Object.values(t[r]||{}).forEach((t=>{var r=e[0];if(t[0]===r){var n=t[1],i=e[3],o=e[2];n.apply(i,o)}}))}},7836:(e,t,r)=>{"use strict";r.d(t,{P:()=>c,ee:()=>u});var n=r(384),i=r(8990),o=r(3371),a=r(2646),s=r(5607);const c="nr@context:".concat(s.W),u=function e(t,r){var n={},s={},d={},l=!1;try{l=16===r.length&&(0,o.f)(r).isolatedBacklog}catch(e){}var f={on:p,addEventListener:p,removeEventListener:function(e,t){var r=n[e];if(!r)return;for(var i=0;i<r.length;i++)r[i]===t&&r.splice(i,1)},emit:function(e,r,n,i,o){!1!==o&&(o=!0);if(u.aborted&&!i)return;t&&o&&t.emit(e,r,n);for(var a=h(n),c=g(e),d=c.length,l=0;l<d;l++)c[l].apply(a,r);var p=v()[s[e]];p&&p.push([f,e,r,a]);return a},get:m,listeners:g,context:h,buffer:function(e,t){const r=v();if(t=t||"feature",f.aborted)return;Object.entries(e||{}).forEach((([e,n])=>{s[n]=t,t in r||(r[t]=[])}))},abort:function(){f._aborted=!0,Object.keys(f.backlog).forEach((e=>{delete f.backlog[e]}))},isBuffering:function(e){return!!v()[s[e]]},debugId:r,backlog:l?{}:t&&"object"==typeof t.backlog?t.backlog:{},isolatedBacklog:l};return Object.defineProperty(f,"aborted",{get:()=>{let e=f._aborted||!1;return e||(t&&(e=t.aborted),e)}}),f;function h(e){return e&&e instanceof a.y?e:e?(0,i.I)(e,c,(()=>new a.y(c))):new a.y(c)}function p(e,t){n[e]=g(e).concat(t)}function g(e){return n[e]||[]}function m(t){return d[t]=d[t]||e(f,t)}function v(){return f.backlog}}(void 0,"globalEE"),d=(0,n.Zm)();d.ee||(d.ee=u)},2646:(e,t,r)=>{"use strict";r.d(t,{y:()=>n});class n{constructor(e){this.contextId=e}}},9908:(e,t,r)=>{"use strict";r.d(t,{d:()=>n,p:()=>i});var n=r(7836).ee.get("handle");function i(e,t,r,i,o){o?(o.buffer([e],i),o.emit(e,t,r)):(n.buffer([e],i),n.emit(e,t,r))}},3606:(e,t,r)=>{"use strict";r.d(t,{i:()=>o});var n=r(9908);o.on=a;var i=o.handlers={};function o(e,t,r,o){a(o||n.d,i,e,t,r)}function a(e,t,r,i,o){o||(o="feature"),e||(e=n.d);var a=t[o]=t[o]||{};(a[r]=a[r]||[]).push([e,i])}},3878:(e,t,r)=>{"use strict";function n(e,t){return{capture:e,passive:!1,signal:t}}function i(e,t,r=!1,i){window.addEventListener(e,t,n(r,i))}function o(e,t,r=!1,i){document.addEventListener(e,t,n(r,i))}r.d(t,{DD:()=>o,jT:()=>n,sp:()=>i})},5607:(e,t,r)=>{"use strict";r.d(t,{W:()=>n});const n=(0,r(9566).bz)()},9566:(e,t,r)=>{"use strict";r.d(t,{LA:()=>s,ZF:()=>c,bz:()=>a,el:()=>u});var n=r(6154);const i="xxxxxxxx-xxxx-4xxx-yxxx-xxxxxxxxxxxx";function o(e,t){return e?15&e[t]:16*Math.random()|0}function a(){const e=n.gm?.crypto||n.gm?.msCrypto;let t,r=0;return e&&e.getRandomValues&&(t=e.getRandomValues(new Uint8Array(30))),i.split("").map((e=>"x"===e?o(t,r++).toString(16):"y"===e?(3&o()|8).toString(16):e)).join("")}function s(e){const t=n.gm?.crypto||n.gm?.msCrypto;let r,i=0;t&&t.getRandomValues&&(r=t.getRandomValues(new Uint8Array(e)));const a=[];for(var s=0;s<e;s++)a.push(o(r,i++).toString(16));return a.join("")}function c(){return s(16)}function u(){return s(32)}},2614:(e,t,r)=>{"use strict";r.d(t,{BB:()=>a,H3:()=>n,g:()=>u,iL:()=>c,tS:()=>s,uh:()=>i,wk:()=>o});const n="NRBA",i="SESSION",o=144e5,a=18e5,s={STARTED:"session-started",PAUSE:"session-pause",RESET:"session-reset",RESUME:"session-resume",UPDATE:"session-update"},c={SAME_TAB:"same-tab",CROSS_TAB:"cross-tab"},u={OFF:0,FULL:1,ERROR:2}},1863:(e,t,r)=>{"use strict";function n(){return Math.floor(performance.now())}r.d(t,{t:()=>n})},7485:(e,t,r)=>{"use strict";r.d(t,{D:()=>i});var n=r(6154);function i(e){if(0===(e||"").indexOf("data:"))return{protocol:"data"};try{const t=new URL(e,location.href),r={port:t.port,hostname:t.hostname,pathname:t.pathname,search:t.search,protocol:t.protocol.slice(0,t.protocol.indexOf(":")),sameOrigin:t.protocol===n.gm?.location?.protocol&&t.host===n.gm?.location?.host};return r.port&&""!==r.port||("http:"===t.protocol&&(r.port="80"),"https:"===t.protocol&&(r.port="443")),r.pathname&&""!==r.pathname?r.pathname.startsWith("/")||(r.pathname="/".concat(r.pathname)):r.pathname="/",r}catch(e){return{}}}},944:(e,t,r)=>{"use strict";function n(e,t){"function"==typeof console.debug&&console.debug("New Relic Warning: https://github.com/newrelic/newrelic-browser-agent/blob/main/docs/warning-codes.md#".concat(e),t)}r.d(t,{R:()=>n})},5284:(e,t,r)=>{"use strict";r.d(t,{t:()=>c,B:()=>s});var n=r(7836),i=r(6154);const o="newrelic";const a=new Set,s={};function c(e,t){const r=n.ee.get(t);s[t]??={},e&&"object"==typeof e&&(a.has(t)||(r.emit("rumresp",[e]),s[t]=e,a.add(t),function(e={}){try{i.gm.dispatchEvent(new CustomEvent(o,{detail:e}))}catch(e){}}({loaded:!0})))}},8990:(e,t,r)=>{"use strict";r.d(t,{I:()=>i});var n=Object.prototype.hasOwnProperty;function i(e,t,r){if(n.call(e,t))return e[t];var i=r();if(Object.defineProperty&&Object.keys)try{return Object.defineProperty(e,t,{value:i,writable:!0,enumerable:!1}),i}catch(e){}return e[t]=i,i}},6389:(e,t,r)=>{"use strict";function n(e,t=500,r={}){const n=r?.leading||!1;let i;return(...r)=>{n&&void 0===i&&(e.apply(this,r),i=setTimeout((()=>{i=clearTimeout(i)}),t)),n||(clearTimeout(i),i=setTimeout((()=>{e.apply(this,r)}),t))}}function i(e){let t=!1;return(...r)=>{t||(t=!0,e.apply(this,r))}}r.d(t,{J:()=>i,s:()=>n})},3304:(e,t,r)=>{"use strict";r.d(t,{A:()=>o});var n=r(7836);const i=()=>{const e=new WeakSet;return(t,r)=>{if("object"==typeof r&&null!==r){if(e.has(r))return;e.add(r)}return r}};function o(e){try{return JSON.stringify(e,i())??""}catch(e){try{n.ee.emit("internal-error",[e])}catch(e){}return""}}},5289:(e,t,r)=>{"use strict";r.d(t,{GG:()=>o,sB:()=>a});var n=r(3878);function i(){return"undefined"==typeof document||"complete"===document.readyState}function o(e,t){if(i())return e();(0,n.sp)("load",e,t)}function a(e){if(i())return e();(0,n.DD)("DOMContentLoaded",e)}},384:(e,t,r)=>{"use strict";r.d(t,{NT:()=>o,US:()=>d,Zm:()=>a,bQ:()=>c,dV:()=>s,nY:()=>u,pV:()=>l});var n=r(6154),i=r(1863);const o={beacon:"bam.nr-data.net",errorBeacon:"bam.nr-data.net"};function a(){return n.gm.NREUM||(n.gm.NREUM={}),void 0===n.gm.newrelic&&(n.gm.newrelic=n.gm.NREUM),n.gm.NREUM}function s(){let e=a();return e.o||(e.o={ST:n.gm.setTimeout,SI:n.gm.setImmediate,CT:n.gm.clearTimeout,XHR:n.gm.XMLHttpRequest,REQ:n.gm.Request,EV:n.gm.Event,PR:n.gm.Promise,MO:n.gm.MutationObserver,FETCH:n.gm.fetch,WS:n.gm.WebSocket}),e}function c(e,t){let r=a();r.initializedAgents??={},t.initializedAt={ms:(0,i.t)(),date:new Date},r.initializedAgents[e]=t}function u(e){let t=a();return t.initializedAgents?.[e]}function d(e,t){a()[e]=t}function l(){return function(){let e=a();const t=e.info||{};e.info={beacon:o.beacon,errorBeacon:o.errorBeacon,...t}}(),function(){let e=a();const t=e.init||{};e.init={...t}}(),s(),function(){let e=a();const t=e.loader_config||{};e.loader_config={...t}}(),a()}},2843:(e,t,r)=>{"use strict";r.d(t,{u:()=>i});var n=r(3878);function i(e,t=!1,r,i){(0,n.DD)("visibilitychange",(function(){if(t)return void("hidden"===document.visibilityState&&e());e(document.visibilityState)}),r,i)}},8139:(e,t,r)=>{"use strict";r.d(t,{u:()=>f});var n=r(7836),i=r(3434),o=r(8990),a=r(6154);const s={},c=a.gm.XMLHttpRequest,u="addEventListener",d="removeEventListener",l="nr@wrapped:".concat(n.P);function f(e){var t=function(e){return(e||n.ee).get("events")}(e);if(s[t.debugId]++)return t;s[t.debugId]=1;var r=(0,i.YM)(t,!0);function f(e){r.inPlace(e,[u,d],"-",p)}function p(e,t){return e[1]}return"getPrototypeOf"in Object&&(a.RI&&h(document,f),h(a.gm,f),h(c.prototype,f)),t.on(u+"-start",(function(e,t){var n=e[1];if(null!==n&&("function"==typeof n||"object"==typeof n)){var i=(0,o.I)(n,l,(function(){var e={object:function(){if("function"!=typeof n.handleEvent)return;return n.handleEvent.apply(n,arguments)},function:n}[typeof n];return e?r(e,"fn-",null,e.name||"anonymous"):n}));this.wrapped=e[1]=i}})),t.on(d+"-start",(function(e){e[1]=this.wrapped||e[1]})),t}function h(e,t,...r){let n=e;for(;"object"==typeof n&&!Object.prototype.hasOwnProperty.call(n,u);)n=Object.getPrototypeOf(n);n&&t(n,...r)}},3434:(e,t,r)=>{"use strict";r.d(t,{Jt:()=>o,YM:()=>c});var n=r(7836),i=r(5607);const o="nr@original:".concat(i.W);var a=Object.prototype.hasOwnProperty,s=!1;function c(e,t){return e||(e=n.ee),r.inPlace=function(e,t,n,i,o){n||(n="");const a="-"===n.charAt(0);for(let s=0;s<t.length;s++){const c=t[s],u=e[c];d(u)||(e[c]=r(u,a?c+n:n,i,c,o))}},r.flag=o,r;function r(t,r,n,s,c){return d(t)?t:(r||(r=""),nrWrapper[o]=t,function(e,t,r){if(Object.defineProperty&&Object.keys)try{return Object.keys(e).forEach((function(r){Object.defineProperty(t,r,{get:function(){return e[r]},set:function(t){return e[r]=t,t}})})),t}catch(e){u([e],r)}for(var n in e)a.call(e,n)&&(t[n]=e[n])}(t,nrWrapper,e),nrWrapper);function nrWrapper(){var o,a,d,l;try{a=this,o=[...arguments],d="function"==typeof n?n(o,a):n||{}}catch(t){u([t,"",[o,a,s],d],e)}i(r+"start",[o,a,s],d,c);try{return l=t.apply(a,o)}catch(e){throw i(r+"err",[o,a,e],d,c),e}finally{i(r+"end",[o,a,l],d,c)}}}function i(r,n,i,o){if(!s||t){var a=s;s=!0;try{e.emit(r,n,i,t,o)}catch(t){u([t,r,n,i],e)}s=a}}}function u(e,t){t||(t=n.ee);try{t.emit("internal-error",e)}catch(e){}}function d(e){return!(e&&"function"==typeof e&&e.apply&&!e[o])}},9300:(e,t,r)=>{"use strict";r.d(t,{T:()=>n});const n=r(860).K7.ajax},3333:(e,t,r)=>{"use strict";r.d(t,{TZ:()=>n,Zp:()=>i,mq:()=>s,nf:()=>a,qN:()=>o});const n=r(860).K7.genericEvents,i=["auxclick","click","copy","keydown","paste","scrollend"],o=["focus","blur"],a=4,s=1e3},6774:(e,t,r)=>{"use strict";r.d(t,{T:()=>n});const n=r(860).K7.jserrors},993:(e,t,r)=>{"use strict";r.d(t,{ET:()=>o,TZ:()=>a,p_:()=>i});var n=r(860);const i={ERROR:"ERROR",WARN:"WARN",INFO:"INFO",DEBUG:"DEBUG",TRACE:"TRACE"},o="log",a=n.K7.logging},3785:(e,t,r)=>{"use strict";r.d(t,{R:()=>c,b:()=>u});var n=r(9908),i=r(1863),o=r(860),a=r(3969),s=r(993);function c(e,t,r={},c=s.p_.INFO){(0,n.p)(a.xV,["API/logging/".concat(c.toLowerCase(),"/called")],void 0,o.K7.metrics,e),(0,n.p)(s.ET,[(0,i.t)(),t,r,c],void 0,o.K7.logging,e)}function u(e){return"string"==typeof e&&Object.values(s.p_).some((t=>t===e.toUpperCase().trim()))}},3969:(e,t,r)=>{"use strict";r.d(t,{TZ:()=>n,XG:()=>s,rs:()=>i,xV:()=>a,z_:()=>o});const n=r(860).K7.metrics,i="sm",o="cm",a="storeSupportabilityMetrics",s="storeEventMetrics"},6630:(e,t,r)=>{"use strict";r.d(t,{T:()=>n});const n=r(860).K7.pageViewEvent},782:(e,t,r)=>{"use strict";r.d(t,{T:()=>n});const n=r(860).K7.pageViewTiming},6344:(e,t,r)=>{"use strict";r.d(t,{BB:()=>d,G4:()=>o,Qb:()=>l,TZ:()=>i,Ug:()=>a,_s:()=>s,bc:()=>u,yP:()=>c});var n=r(2614);const i=r(860).K7.sessionReplay,o={RECORD:"recordReplay",PAUSE:"pauseReplay",REPLAY_RUNNING:"replayRunning",ERROR_DURING_REPLAY:"errorDuringReplay"},a=.12,s={DomContentLoaded:0,Load:1,FullSnapshot:2,IncrementalSnapshot:3,Meta:4,Custom:5},c={[n.g.ERROR]:15e3,[n.g.FULL]:3e5,[n.g.OFF]:0},u={RESET:{message:"Session was reset",sm:"Reset"},IMPORT:{message:"Recorder failed to import",sm:"Import"},TOO_MANY:{message:"429: Too Many Requests",sm:"Too-Many"},TOO_BIG:{message:"Payload was too large",sm:"Too-Big"},CROSS_TAB:{message:"Session Entity was set to OFF on another tab",sm:"Cross-Tab"},ENTITLEMENTS:{message:"Session Replay is not allowed and will not be started",sm:"Entitlement"}},d=5e3,l={API:"api"}},5270:(e,t,r)=>{"use strict";r.d(t,{Aw:()=>c,CT:()=>u,SR:()=>s});var n=r(384),i=r(9417),o=r(7767),a=r(6154);function s(e){return!!(0,n.dV)().o.MO&&(0,o.V)(e)&&!0===(0,i.gD)(e,"session_trace.enabled")}function c(e){return!0===(0,i.gD)(e,"session_replay.preload")&&s(e)}function u(e,t){const r=t.correctAbsoluteTimestamp(e);return{originalTimestamp:e,correctedTimestamp:r,timestampDiff:e-r,originTime:a.WN,correctedOriginTime:t.correctedOriginTime,originTimeDiff:Math.floor(a.WN-t.correctedOriginTime)}}},3738:(e,t,r)=>{"use strict";r.d(t,{He:()=>i,Kp:()=>s,Lc:()=>u,Rz:()=>d,TZ:()=>n,bD:()=>o,d3:()=>a,jx:()=>l,uP:()=>c});const n=r(860).K7.sessionTrace,i="bstResource",o="resource",a="-start",s="-end",c="fn"+a,u="fn"+s,d="pushState",l=1e3},3962:(e,t,r)=>{"use strict";r.d(t,{AM:()=>o,O2:()=>s,Qu:()=>c,TZ:()=>a,ih:()=>u,tC:()=>i});var n=r(860);const i=["click","keydown","submit"],o="api",a=n.K7.softNav,s={INITIAL_PAGE_LOAD:"",ROUTE_CHANGE:1,UNSPECIFIED:2},c={INTERACTION:1,AJAX:2,CUSTOM_END:3,CUSTOM_TRACER:4},u={IP:"in progress",FIN:"finished",CAN:"cancelled"}},7378:(e,t,r)=>{"use strict";r.d(t,{$p:()=>x,BR:()=>b,Kp:()=>R,L3:()=>y,Lc:()=>c,NC:()=>o,SG:()=>d,TZ:()=>i,U6:()=>p,UT:()=>m,d3:()=>w,dT:()=>f,e5:()=>A,gx:()=>v,l9:()=>l,oW:()=>h,op:()=>g,rw:()=>u,tH:()=>E,uP:()=>s,wW:()=>T,xq:()=>a});var n=r(384);const i=r(860).K7.spa,o=["click","submit","keypress","keydown","keyup","change"],a=999,s="fn-start",c="fn-end",u="cb-start",d="api-ixn-",l="remaining",f="interaction",h="spaNode",p="jsonpNode",g="fetch-start",m="fetch-done",v="fetch-body-",b="jsonp-end",y=(0,n.dV)().o.ST,w="-start",R="-end",x="-body",T="cb"+R,A="jsTime",E="fetch"},4234:(e,t,r)=>{"use strict";r.d(t,{W:()=>o});var n=r(7836),i=r(1687);class o{constructor(e,t){this.agentIdentifier=e,this.ee=n.ee.get(e),this.featureName=t,this.blocked=!1}deregisterDrain(){(0,i.x3)(this.agentIdentifier,this.featureName)}}},7767:(e,t,r)=>{"use strict";r.d(t,{V:()=>o});var n=r(9417),i=r(6154);const o=e=>i.RI&&!0===(0,n.gD)(e,"privacy.cookies_enabled")},425:(e,t,r)=>{"use strict";r.d(t,{j:()=>j});var n=r(860),i=r(2555),o=r(3371),a=r(9908),s=r(7836),c=r(1687),u=r(5289),d=r(6154),l=r(944),f=r(3969),h=r(384),p=r(6344);const g=["setErrorHandler","finished","addToTrace","addRelease","addPageAction","setCurrentRouteName","setPageViewName","setCustomAttribute","interaction","noticeError","setUserId","setApplicationVersion","start",p.G4.RECORD,p.G4.PAUSE,"log","wrapLogger"],m=["setErrorHandler","finished","addToTrace","addRelease"];var v=r(1863),b=r(2614),y=r(993),w=r(3785),R=r(2646),x=r(3434);function T(e,t,r,n){if("object"!=typeof t||!t||"string"!=typeof r||!r||"function"!=typeof t[r])return(0,l.R)(29);const i=function(e){return(e||s.ee).get("logger")}(e),o=(0,x.YM)(i),a=new R.y(s.P);return a.level=n.level,a.customAttributes=n.customAttributes,o.inPlace(t,[r],"wrap-logger-",a),i}function A(){const e=(0,h.pV)();g.forEach((t=>{e[t]=(...r)=>function(t,...r){let n=[];return Object.values(e.initializedAgents).forEach((e=>{e&&e.api?e.exposed&&e.api[t]&&n.push(e.api[t](...r)):(0,l.R)(38,t)})),n.length>1?n:n[0]}(t,...r)}))}const E={};var S=r(9417),N=r(5603),O=r(5284);const _=e=>{const t=e.startsWith("http");e+="/",r.p=t?e:"https://"+e};let I=!1;function j(e,t={},g,R){let{init:x,info:j,loader_config:P,runtime:C={},exposed:k=!0}=t;C.loaderType=g;const L=(0,h.pV)();j||(x=L.init,j=L.info,P=L.loader_config),(0,S.xN)(e.agentIdentifier,x||{}),(0,N.a)(e.agentIdentifier,P||{}),j.jsAttributes??={},d.bv&&(j.jsAttributes.isWorker=!0),(0,i.x1)(e.agentIdentifier,j);const H=(0,S.D0)(e.agentIdentifier),D=[j.beacon,j.errorBeacon];I||(H.proxy.assets&&(_(H.proxy.assets),D.push(H.proxy.assets)),H.proxy.beacon&&D.push(H.proxy.beacon),A(),(0,h.US)("activatedFeatures",O.B),e.runSoftNavOverSpa&&=!0===H.soft_navigations.enabled&&H.feature_flags.includes("soft_nav")),C.denyList=[...H.ajax.deny_list||[],...H.ajax.block_internal?D:[]],C.ptid=e.agentIdentifier,(0,o.V)(e.agentIdentifier,C),e.ee=s.ee.get(e.agentIdentifier),void 0===e.api&&(e.api=function(e,t,h=!1){t||(0,c.Ak)(e,"api");const g={};var R=s.ee.get(e),x=R.get("tracer");E[e]=b.g.OFF,R.on(p.G4.REPLAY_RUNNING,(t=>{E[e]=t}));var A="api-",S=A+"ixn-";function N(t,r,n,o){const a=(0,i.Vp)(e);return null===r?delete a.jsAttributes[t]:(0,i.x1)(e,{...a,jsAttributes:{...a.jsAttributes,[t]:r}}),I(A,n,!0,o||null===r?"session":void 0)(t,r)}function O(){}g.log=function(e,{customAttributes:t={},level:r=y.p_.INFO}={}){(0,a.p)(f.xV,["API/log/called"],void 0,n.K7.metrics,R),(0,w.R)(R,e,t,r)},g.wrapLogger=(e,t,{customAttributes:r={},level:i=y.p_.INFO}={})=>{(0,a.p)(f.xV,["API/wrapLogger/called"],void 0,n.K7.metrics,R),T(R,e,t,{customAttributes:r,level:i})},m.forEach((e=>{g[e]=I(A,e,!0,"api")})),g.addPageAction=I(A,"addPageAction",!0,n.K7.genericEvents),g.setPageViewName=function(t,r){if("string"==typeof t)return"/"!==t.charAt(0)&&(t="/"+t),(0,o.f)(e).customTransaction=(r||"http://custom.transaction")+t,I(A,"setPageViewName",!0)()},g.setCustomAttribute=function(e,t,r=!1){if("string"==typeof e){if(["string","number","boolean"].includes(typeof t)||null===t)return N(e,t,"setCustomAttribute",r);(0,l.R)(40,typeof t)}else(0,l.R)(39,typeof e)},g.setUserId=function(e){if("string"==typeof e||null===e)return N("enduser.id",e,"setUserId",!0);(0,l.R)(41,typeof e)},g.setApplicationVersion=function(e){if("string"==typeof e||null===e)return N("application.version",e,"setApplicationVersion",!1);(0,l.R)(42,typeof e)},g.start=()=>{try{(0,a.p)(f.xV,["API/start/called"],void 0,n.K7.metrics,R),R.emit("manual-start-all")}catch(e){(0,l.R)(23,e)}},g[p.G4.RECORD]=function(){(0,a.p)(f.xV,["API/recordReplay/called"],void 0,n.K7.metrics,R),(0,a.p)(p.G4.RECORD,[],void 0,n.K7.sessionReplay,R)},g[p.G4.PAUSE]=function(){(0,a.p)(f.xV,["API/pauseReplay/called"],void 0,n.K7.metrics,R),(0,a.p)(p.G4.PAUSE,[],void 0,n.K7.sessionReplay,R)},g.interaction=function(e){return(new O).get("object"==typeof e?e:{})};const _=O.prototype={createTracer:function(e,t){var r={},i=this,o="function"==typeof t;return(0,a.p)(f.xV,["API/createTracer/called"],void 0,n.K7.metrics,R),h||(0,a.p)(S+"tracer",[(0,v.t)(),e,r],i,n.K7.spa,R),function(){if(x.emit((o?"":"no-")+"fn-start",[(0,v.t)(),i,o],r),o)try{return t.apply(this,arguments)}catch(e){const t="string"==typeof e?new Error(e):e;throw x.emit("fn-err",[arguments,this,t],r),t}finally{x.emit("fn-end",[(0,v.t)()],r)}}}};function I(e,t,r,i){return function(){return(0,a.p)(f.xV,["API/"+t+"/called"],void 0,n.K7.metrics,R),i&&(0,a.p)(e+t,[(0,v.t)(),...arguments],r?null:this,i,R),r?void 0:this}}function j(){r.e(478).then(r.bind(r,8778)).then((({setAPI:t})=>{t(e),(0,c.Ze)(e,"api")})).catch((e=>{(0,l.R)(27,e),R.abort()}))}return["actionText","setName","setAttribute","save","ignore","onEnd","getContext","end","get"].forEach((e=>{_[e]=I(S,e,void 0,h?n.K7.softNav:n.K7.spa)})),g.setCurrentRouteName=h?I(S,"routeName",void 0,n.K7.softNav):I(A,"routeName",!0,n.K7.spa),g.noticeError=function(t,r){"string"==typeof t&&(t=new Error(t)),(0,a.p)(f.xV,["API/noticeError/called"],void 0,n.K7.metrics,R),(0,a.p)("err",[t,(0,v.t)(),!1,r,!!E[e]],void 0,n.K7.jserrors,R)},d.RI?(0,u.GG)((()=>j()),!0):j(),g}(e.agentIdentifier,R,e.runSoftNavOverSpa)),void 0===e.exposed&&(e.exposed=k),I=!0}},8374:(e,t,r)=>{r.nc=(()=>{try{return document?.currentScript?.nonce}catch(e){}return""})()},860:(e,t,r)=>{"use strict";r.d(t,{$J:()=>o,K7:()=>n,P3:()=>i});const n={ajax:"ajax",genericEvents:"generic_events",jserrors:"jserrors",logging:"logging",metrics:"metrics",pageAction:"page_action",pageViewEvent:"page_view_event",pageViewTiming:"page_view_timing",sessionReplay:"session_replay",sessionTrace:"session_trace",softNav:"soft_navigations",spa:"spa"},i={[n.pageViewEvent]:1,[n.pageViewTiming]:2,[n.metrics]:3,[n.jserrors]:4,[n.spa]:5,[n.ajax]:6,[n.sessionTrace]:7,[n.softNav]:8,[n.sessionReplay]:9,[n.logging]:10,[n.genericEvents]:11},o={[n.pageViewTiming]:"events",[n.ajax]:"events",[n.spa]:"events",[n.softNav]:"events",[n.metrics]:"jserrors",[n.jserrors]:"jserrors",[n.sessionTrace]:"browser/blobs",[n.sessionReplay]:"browser/blobs",[n.logging]:"browser/logs",[n.genericEvents]:"ins"}}},n={};function i(e){var t=n[e];if(void 0!==t)return t.exports;var o=n[e]={exports:{}};return r[e](o,o.exports,i),o.exports}i.m=r,i.d=(e,t)=>{for(var r in t)i.o(t,r)&&!i.o(e,r)&&Object.defineProperty(e,r,{enumerable:!0,get:t[r]})},i.f={},i.e=e=>Promise.all(Object.keys(i.f).reduce(((t,r)=>(i.f[r](e,t),t)),[])),i.u=e=>({212:"nr-spa-compressor",249:"nr-spa-recorder",478:"nr-spa"}[e]+"-1.274.0.min.js"),i.o=(e,t)=>Object.prototype.hasOwnProperty.call(e,t),e={},t="NRBA-1.274.0.PROD:",i.l=(r,n,o,a)=>{if(e[r])e[r].push(n);else{var s,c;if(void 0!==o)for(var u=document.getElementsByTagName("script"),d=0;d<u.length;d++){var l=u[d];if(l.getAttribute("src")==r||l.getAttribute("data-webpack")==t+o){s=l;break}}if(!s){c=!0;var f={478:"sha512-1vUqEfJPB8Pihje9mv5CfYgkitO1FWcS+UQb84DbXqP8oYctRv4/lzl/MzNLPlRhcY1WVDBGL20I8vm6s2VV7g==",249:"sha512-Y/BeZAh6VSTmUtUNmS5XdyKxL92s30Fyyj8xVW76HSPxcKItL4+x2+kGMZc8pMJnUpZDz1L4eftZQAJh3D8NnA==",212:"sha512-Gn2tQ3qog5Yhrx/gRutkSTYPp+7nkKFt4/mIXg99LxcNpMDAYJZDBYmAACdoHNM86+iq1F3cBcQotFNzjIX8bw=="};(s=document.createElement("script")).charset="utf-8",s.timeout=120,i.nc&&s.setAttribute("nonce",i.nc),s.setAttribute("data-webpack",t+o),s.src=r,0!==s.src.indexOf(window.location.origin+"/")&&(s.crossOrigin="anonymous"),f[a]&&(s.integrity=f[a])}e[r]=[n];var h=(t,n)=>{s.onerror=s.onload=null,clearTimeout(p);var i=e[r];if(delete e[r],s.parentNode&&s.parentNode.removeChild(s),i&&i.forEach((e=>e(n))),t)return t(n)},p=setTimeout(h.bind(null,void 0,{type:"timeout",target:s}),12e4);s.onerror=h.bind(null,s.onerror),s.onload=h.bind(null,s.onload),c&&document.head.appendChild(s)}},i.r=e=>{"undefined"!=typeof Symbol&&Symbol.toStringTag&&Object.defineProperty(e,Symbol.toStringTag,{value:"Module"}),Object.defineProperty(e,"__esModule",{value:!0})},i.p="https://js-agent.newrelic.com/",(()=>{var e={38:0,788:0};i.f.j=(t,r)=>{var n=i.o(e,t)?e[t]:void 0;if(0!==n)if(n)r.push(n[2]);else{var o=new Promise(((r,i)=>n=e[t]=[r,i]));r.push(n[2]=o);var a=i.p+i.u(t),s=new Error;i.l(a,(r=>{if(i.o(e,t)&&(0!==(n=e[t])&&(e[t]=void 0),n)){var o=r&&("load"===r.type?"missing":r.type),a=r&&r.target&&r.target.src;s.message="Loading chunk "+t+" failed.\n("+o+": "+a+")",s.name="ChunkLoadError",s.type=o,s.request=a,n[1](s)}}),"chunk-"+t,t)}};var t=(t,r)=>{var n,o,[a,s,c]=r,u=0;if(a.some((t=>0!==e[t]))){for(n in s)i.o(s,n)&&(i.m[n]=s[n]);if(c)c(i)}for(t&&t(r);u<a.length;u++)o=a[u],i.o(e,o)&&e[o]&&e[o][0](),e[o]=0},r=self["webpackChunk:NRBA-1.274.0.PROD"]=self["webpackChunk:NRBA-1.274.0.PROD"]||[];r.forEach(t.bind(null,0)),r.push=t.bind(null,r.push.bind(r))})(),(()=>{"use strict";i(8374);var e=i(944),t=i(6344),r=i(9566);class n{agentIdentifier;constructor(e=(0,r.LA)(16)){this.agentIdentifier=e}#e(t,...r){if("function"==typeof this.api?.[t])return this.api[t](...r);(0,e.R)(35,t)}addPageAction(e,t){return this.#e("addPageAction",e,t)}setPageViewName(e,t){return this.#e("setPageViewName",e,t)}setCustomAttribute(e,t,r){return this.#e("setCustomAttribute",e,t,r)}noticeError(e,t){return this.#e("noticeError",e,t)}setUserId(e){return this.#e("setUserId",e)}setApplicationVersion(e){return this.#e("setApplicationVersion",e)}setErrorHandler(e){return this.#e("setErrorHandler",e)}addRelease(e,t){return this.#e("addRelease",e,t)}log(e,t){return this.#e("log",e,t)}}class o extends n{#e(t,...r){if("function"==typeof this.api?.[t])return this.api[t](...r);(0,e.R)(35,t)}start(){return this.#e("start")}finished(e){return this.#e("finished",e)}recordReplay(){return this.#e(t.G4.RECORD)}pauseReplay(){return this.#e(t.G4.PAUSE)}addToTrace(e){return this.#e("addToTrace",e)}setCurrentRouteName(e){return this.#e("setCurrentRouteName",e)}interaction(){return this.#e("interaction")}wrapLogger(e,t,r){return this.#e("wrapLogger",e,t,r)}}var a=i(860),s=i(9417);const c=Object.values(a.K7);function u(e){const t={};return c.forEach((r=>{t[r]=function(e,t){return!0===(0,s.gD)(t,"".concat(e,".enabled"))}(r,e)})),t}var d=i(425);var l=i(1687),f=i(4234),h=i(5289),p=i(6154),g=i(5270),m=i(7767),v=i(6389);class b extends f.W{constructor(e,t,r=!0){super(e.agentIdentifier,t),this.auto=r,this.abortHandler=void 0,this.featAggregate=void 0,this.onAggregateImported=void 0,!1===e.init[this.featureName].autoStart&&(this.auto=!1),this.auto?(0,l.Ak)(e.agentIdentifier,t):this.ee.on("manual-start-all",(0,v.J)((()=>{(0,l.Ak)(e.agentIdentifier,this.featureName),this.auto=!0,this.importAggregator(e)})))}importAggregator(t,r={}){if(this.featAggregate||!this.auto)return;let n;this.onAggregateImported=new Promise((e=>{n=e}));const o=async()=>{let o;try{if((0,m.V)(this.agentIdentifier)){const{setupAgentSession:e}=await i.e(478).then(i.bind(i,6526));o=e(t)}}catch(t){(0,e.R)(20,t),this.ee.emit("internal-error",[t]),this.featureName===a.K7.sessionReplay&&this.abortHandler?.()}try{if(t.sharedAggregator)await t.sharedAggregator;else{t.sharedAggregator=i.e(478).then(i.bind(i,9337));const{EventAggregator:e}=await t.sharedAggregator;t.sharedAggregator=new e}if(!this.#t(this.featureName,o))return(0,l.Ze)(this.agentIdentifier,this.featureName),void n(!1);const{lazyFeatureLoader:e}=await i.e(478).then(i.bind(i,6103)),{Aggregate:a}=await e(this.featureName,"aggregate");this.featAggregate=new a(t,r),n(!0)}catch(t){(0,e.R)(34,t),this.abortHandler?.(),(0,l.Ze)(this.agentIdentifier,this.featureName,!0),n(!1),this.ee&&this.ee.abort()}};p.RI?(0,h.GG)((()=>o()),!0):o()}#t(e,t){switch(e){case a.K7.sessionReplay:return(0,g.SR)(this.agentIdentifier)&&!!t;case a.K7.sessionTrace:return!!t;default:return!0}}}var y=i(6630);class w extends b{static featureName=y.T;constructor(e,t=!0){super(e,y.T,t),this.importAggregator(e)}}var R=i(384);var x=i(9908),T=i(2843),A=i(3878),E=i(782),S=i(1863);class N extends b{static featureName=E.T;constructor(e,t=!0){super(e,E.T,t),p.RI&&((0,T.u)((()=>(0,x.p)("docHidden",[(0,S.t)()],void 0,E.T,this.ee)),!0),(0,A.sp)("pagehide",(()=>(0,x.p)("winPagehide",[(0,S.t)()],void 0,E.T,this.ee))),this.importAggregator(e))}}var O=i(3969);class _ extends b{static featureName=O.TZ;constructor(e,t=!0){super(e,O.TZ,t),this.importAggregator(e)}}var I=i(6774),j=i(3304);class P{constructor(e,t,r,n,i){this.name="UncaughtError",this.message="string"==typeof e?e:(0,j.A)(e),this.sourceURL=t,this.line=r,this.column=n,this.__newrelic=i}}function C(e){return H(e)?e:new P(void 0!==e?.message?e.message:e,e?.filename||e?.sourceURL,e?.lineno||e?.line,e?.colno||e?.col,e?.__newrelic)}function k(e){const t="Unhandled Promise Rejection";if(!e?.reason)return;if(H(e.reason))try{return e.reason.message=t+": "+e.reason.message,C(e.reason)}catch(t){return C(e.reason)}const r=C(e.reason);return r.message=t+": "+r?.message,r}function L(e){if(e.error instanceof SyntaxError&&!/:\d+$/.test(e.error.stack?.trim())){const t=new P(e.message,e.filename,e.lineno,e.colno,e.error.__newrelic);return t.name=SyntaxError.name,t}return H(e.error)?e.error:C(e)}function H(e){return e instanceof Error&&!!e.stack}class D extends b{static featureName=I.T;#r=!1;constructor(e,r=!0){super(e,I.T,r);try{this.removeOnAbort=new AbortController}catch(e){}this.ee.on("internal-error",(e=>{this.abortHandler&&(0,x.p)("ierr",[C(e),(0,S.t)(),!0,{},this.#r],void 0,this.featureName,this.ee)})),this.ee.on(t.G4.REPLAY_RUNNING,(e=>{this.#r=e})),p.gm.addEventListener("unhandledrejection",(e=>{this.abortHandler&&(0,x.p)("err",[k(e),(0,S.t)(),!1,{unhandledPromiseRejection:1},this.#r],void 0,this.featureName,this.ee)}),(0,A.jT)(!1,this.removeOnAbort?.signal)),p.gm.addEventListener("error",(e=>{this.abortHandler&&(0,x.p)("err",[L(e),(0,S.t)(),!1,{},this.#r],void 0,this.featureName,this.ee)}),(0,A.jT)(!1,this.removeOnAbort?.signal)),this.abortHandler=this.#n,this.importAggregator(e)}#n(){this.removeOnAbort?.abort(),this.abortHandler=void 0}}var M=i(8990);let K=1;const U="nr@id";function V(e){const t=typeof e;return!e||"object"!==t&&"function"!==t?-1:e===p.gm?0:(0,M.I)(e,U,(function(){return K++}))}function G(e){if("string"==typeof e&&e.length)return e.length;if("object"==typeof e){if("undefined"!=typeof ArrayBuffer&&e instanceof ArrayBuffer&&e.byteLength)return e.byteLength;if("undefined"!=typeof Blob&&e instanceof Blob&&e.size)return e.size;if(!("undefined"!=typeof FormData&&e instanceof FormData))try{return(0,j.A)(e).length}catch(e){return}}}var F=i(8139),B=i(7836),W=i(3434);const z={},q=["open","send"];function Z(t){var r=t||B.ee;const n=function(e){return(e||B.ee).get("xhr")}(r);if(z[n.debugId]++)return n;z[n.debugId]=1,(0,F.u)(r);var i=(0,W.YM)(n),o=p.gm.XMLHttpRequest,a=p.gm.MutationObserver,s=p.gm.Promise,c=p.gm.setInterval,u="readystatechange",d=["onload","onerror","onabort","onloadstart","onloadend","onprogress","ontimeout"],l=[],f=p.gm.XMLHttpRequest=function(t){const r=new o(t),a=n.context(r);try{n.emit("new-xhr",[r],a),r.addEventListener(u,(s=a,function(){var e=this;e.readyState>3&&!s.resolved&&(s.resolved=!0,n.emit("xhr-resolved",[],e)),i.inPlace(e,d,"fn-",y)}),(0,A.jT)(!1))}catch(t){(0,e.R)(15,t);try{n.emit("internal-error",[t])}catch(e){}}var s;return r};function h(e,t){i.inPlace(t,["onreadystatechange"],"fn-",y)}if(function(e,t){for(var r in e)t[r]=e[r]}(o,f),f.prototype=o.prototype,i.inPlace(f.prototype,q,"-xhr-",y),n.on("send-xhr-start",(function(e,t){h(e,t),function(e){l.push(e),a&&(g?g.then(b):c?c(b):(m=-m,v.data=m))}(t)})),n.on("open-xhr-start",h),a){var g=s&&s.resolve();if(!c&&!s){var m=1,v=document.createTextNode(m);new a(b).observe(v,{characterData:!0})}}else r.on("fn-end",(function(e){e[0]&&e[0].type===u||b()}));function b(){for(var e=0;e<l.length;e++)h(0,l[e]);l.length&&(l=[])}function y(e,t){return t}return n}var Y="fetch-",X=Y+"body-",J=["arrayBuffer","blob","json","text","formData"],Q=p.gm.Request,ee=p.gm.Response,te="prototype";const re={};function ne(e){const t=function(e){return(e||B.ee).get("fetch")}(e);if(!(Q&&ee&&p.gm.fetch))return t;if(re[t.debugId]++)return t;function r(e,r,n){var i=e[r];"function"==typeof i&&(e[r]=function(){var e,r=[...arguments],o={};t.emit(n+"before-start",[r],o),o[B.P]&&o[B.P].dt&&(e=o[B.P].dt);var a=i.apply(this,r);return t.emit(n+"start",[r,e],a),a.then((function(e){return t.emit(n+"end",[null,e],a),e}),(function(e){throw t.emit(n+"end",[e],a),e}))})}return re[t.debugId]=1,J.forEach((e=>{r(Q[te],e,X),r(ee[te],e,X)})),r(p.gm,"fetch",Y),t.on(Y+"end",(function(e,r){var n=this;if(r){var i=r.headers.get("content-length");null!==i&&(n.rxSize=i),t.emit(Y+"done",[null,r],n)}else t.emit(Y+"done",[e],n)})),t}var ie=i(7485),oe=i(5603);class ae{constructor(e){this.agentIdentifier=e}generateTracePayload(e){if(!this.shouldGenerateTrace(e))return null;var t=(0,oe.o)(this.agentIdentifier);if(!t)return null;var n=(t.accountID||"").toString()||null,i=(t.agentID||"").toString()||null,o=(t.trustKey||"").toString()||null;if(!n||!i)return null;var a=(0,r.ZF)(),s=(0,r.el)(),c=Date.now(),u={spanId:a,traceId:s,timestamp:c};return(e.sameOrigin||this.isAllowedOrigin(e)&&this.useTraceContextHeadersForCors())&&(u.traceContextParentHeader=this.generateTraceContextParentHeader(a,s),u.traceContextStateHeader=this.generateTraceContextStateHeader(a,c,n,i,o)),(e.sameOrigin&&!this.excludeNewrelicHeader()||!e.sameOrigin&&this.isAllowedOrigin(e)&&this.useNewrelicHeaderForCors())&&(u.newrelicHeader=this.generateTraceHeader(a,s,c,n,i,o)),u}generateTraceContextParentHeader(e,t){return"00-"+t+"-"+e+"-01"}generateTraceContextStateHeader(e,t,r,n,i){return i+"@nr=0-1-"+r+"-"+n+"-"+e+"----"+t}generateTraceHeader(e,t,r,n,i,o){if(!("function"==typeof p.gm?.btoa))return null;var a={v:[0,1],d:{ty:"Browser",ac:n,ap:i,id:e,tr:t,ti:r}};return o&&n!==o&&(a.d.tk=o),btoa((0,j.A)(a))}shouldGenerateTrace(e){return this.isDtEnabled()&&this.isAllowedOrigin(e)}isAllowedOrigin(e){var t=!1,r={};if((0,s.gD)(this.agentIdentifier,"distributed_tracing")&&(r=(0,s.D0)(this.agentIdentifier).distributed_tracing),e.sameOrigin)t=!0;else if(r.allowed_origins instanceof Array)for(var n=0;n<r.allowed_origins.length;n++){var i=(0,ie.D)(r.allowed_origins[n]);if(e.hostname===i.hostname&&e.protocol===i.protocol&&e.port===i.port){t=!0;break}}return t}isDtEnabled(){var e=(0,s.gD)(this.agentIdentifier,"distributed_tracing");return!!e&&!!e.enabled}excludeNewrelicHeader(){var e=(0,s.gD)(this.agentIdentifier,"distributed_tracing");return!!e&&!!e.exclude_newrelic_header}useNewrelicHeaderForCors(){var e=(0,s.gD)(this.agentIdentifier,"distributed_tracing");return!!e&&!1!==e.cors_use_newrelic_header}useTraceContextHeadersForCors(){var e=(0,s.gD)(this.agentIdentifier,"distributed_tracing");return!!e&&!!e.cors_use_tracecontext_headers}}var se=i(9300),ce=i(7295),ue=["load","error","abort","timeout"],de=ue.length,le=(0,R.dV)().o.REQ,fe=(0,R.dV)().o.XHR;class he extends b{static featureName=se.T;constructor(e,t=!0){super(e,se.T,t),this.dt=new ae(e.agentIdentifier),this.handler=(e,t,r,n)=>(0,x.p)(e,t,r,n,this.ee);try{const e={xmlhttprequest:"xhr",fetch:"fetch",beacon:"beacon"};p.gm?.performance?.getEntriesByType("resource").forEach((t=>{if(t.initiatorType in e&&0!==t.responseStatus){const r={status:t.responseStatus},n={rxSize:t.transferSize,duration:Math.floor(t.duration),cbTime:0};pe(r,t.name),this.handler("xhr",[r,n,t.startTime,t.responseEnd,e[t.initiatorType]],void 0,a.K7.ajax)}}))}catch(e){}ne(this.ee),Z(this.ee),function(e,t,r,n){function i(e){var t=this;t.totalCbs=0,t.called=0,t.cbTime=0,t.end=R,t.ended=!1,t.xhrGuids={},t.lastSize=null,t.loadCaptureCalled=!1,t.params=this.params||{},t.metrics=this.metrics||{},e.addEventListener("load",(function(r){T(t,e)}),(0,A.jT)(!1)),p.lR||e.addEventListener("progress",(function(e){t.lastSize=e.loaded}),(0,A.jT)(!1))}function o(e){this.params={method:e[0]},pe(this,e[1]),this.metrics={}}function s(t,r){e.loader_config.xpid&&this.sameOrigin&&r.setRequestHeader("X-NewRelic-ID",e.loader_config.xpid);var i=n.generateTracePayload(this.parsedOrigin);if(i){var o=!1;i.newrelicHeader&&(r.setRequestHeader("newrelic",i.newrelicHeader),o=!0),i.traceContextParentHeader&&(r.setRequestHeader("traceparent",i.traceContextParentHeader),i.traceContextStateHeader&&r.setRequestHeader("tracestate",i.traceContextStateHeader),o=!0),o&&(this.dt=i)}}function c(e,r){var n=this.metrics,i=e[0],o=this;if(n&&i){var a=G(i);a&&(n.txSize=a)}this.startTime=(0,S.t)(),this.body=i,this.listener=function(e){try{"abort"!==e.type||o.loadCaptureCalled||(o.params.aborted=!0),("load"!==e.type||o.called===o.totalCbs&&(o.onloadCalled||"function"!=typeof r.onload)&&"function"==typeof o.end)&&o.end(r)}catch(e){try{t.emit("internal-error",[e])}catch(e){}}};for(var s=0;s<de;s++)r.addEventListener(ue[s],this.listener,(0,A.jT)(!1))}function u(e,t,r){this.cbTime+=e,t?this.onloadCalled=!0:this.called+=1,this.called!==this.totalCbs||!this.onloadCalled&&"function"==typeof r.onload||"function"!=typeof this.end||this.end(r)}function d(e,t){var r=""+V(e)+!!t;this.xhrGuids&&!this.xhrGuids[r]&&(this.xhrGuids[r]=!0,this.totalCbs+=1)}function l(e,t){var r=""+V(e)+!!t;this.xhrGuids&&this.xhrGuids[r]&&(delete this.xhrGuids[r],this.totalCbs-=1)}function f(){this.endTime=(0,S.t)()}function h(e,r){r instanceof fe&&"load"===e[0]&&t.emit("xhr-load-added",[e[1],e[2]],r)}function g(e,r){r instanceof fe&&"load"===e[0]&&t.emit("xhr-load-removed",[e[1],e[2]],r)}function m(e,t,r){t instanceof fe&&("onload"===r&&(this.onload=!0),("load"===(e[0]&&e[0].type)||this.onload)&&(this.xhrCbStart=(0,S.t)()))}function v(e,r){this.xhrCbStart&&t.emit("xhr-cb-time",[(0,S.t)()-this.xhrCbStart,this.onload,r],r)}function b(e){var t,r=e[1]||{};if("string"==typeof e[0]?0===(t=e[0]).length&&p.RI&&(t=""+p.gm.location.href):e[0]&&e[0].url?t=e[0].url:p.gm?.URL&&e[0]&&e[0]instanceof URL?t=e[0].href:"function"==typeof e[0].toString&&(t=e[0].toString()),"string"==typeof t&&0!==t.length){t&&(this.parsedOrigin=(0,ie.D)(t),this.sameOrigin=this.parsedOrigin.sameOrigin);var i=n.generateTracePayload(this.parsedOrigin);if(i&&(i.newrelicHeader||i.traceContextParentHeader))if(e[0]&&e[0].headers)s(e[0].headers,i)&&(this.dt=i);else{var o={};for(var a in r)o[a]=r[a];o.headers=new Headers(r.headers||{}),s(o.headers,i)&&(this.dt=i),e.length>1?e[1]=o:e.push(o)}}function s(e,t){var r=!1;return t.newrelicHeader&&(e.set("newrelic",t.newrelicHeader),r=!0),t.traceContextParentHeader&&(e.set("traceparent",t.traceContextParentHeader),t.traceContextStateHeader&&e.set("tracestate",t.traceContextStateHeader),r=!0),r}}function y(e,t){this.params={},this.metrics={},this.startTime=(0,S.t)(),this.dt=t,e.length>=1&&(this.target=e[0]),e.length>=2&&(this.opts=e[1]);var r,n=this.opts||{},i=this.target;"string"==typeof i?r=i:"object"==typeof i&&i instanceof le?r=i.url:p.gm?.URL&&"object"==typeof i&&i instanceof URL&&(r=i.href),pe(this,r);var o=(""+(i&&i instanceof le&&i.method||n.method||"GET")).toUpperCase();this.params.method=o,this.body=n.body,this.txSize=G(n.body)||0}function w(e,t){if(this.endTime=(0,S.t)(),this.params||(this.params={}),(0,ce.iW)(this.params))return;let n;this.params.status=t?t.status:0,"string"==typeof this.rxSize&&this.rxSize.length>0&&(n=+this.rxSize);const i={txSize:this.txSize,rxSize:n,duration:(0,S.t)()-this.startTime};r("xhr",[this.params,i,this.startTime,this.endTime,"fetch"],this,a.K7.ajax)}function R(e){const t=this.params,n=this.metrics;if(!this.ended){this.ended=!0;for(let t=0;t<de;t++)e.removeEventListener(ue[t],this.listener,!1);t.aborted||(0,ce.iW)(t)||(n.duration=(0,S.t)()-this.startTime,this.loadCazptureCalled||4!==e.readyState?null==t.status&&(t.status=0):T(this,e),n.cbTime=this.cbTime,r("xhr",[t,n,this.startTime,this.endTime,"xhr"],this,a.K7.ajax))}}function T(e,r){e.params.status=r.status;var n=function(e,t){var r=e.responseType;return"json"===r&&null!==t?t:"arraybuffer"===r||"blob"===r||"json"===r?G(e.response):"text"===r||""===r||void 0===r?G(e.responseText):void 0}(r,e.lastSize);if(n&&(e.metrics.rxSize=n),e.sameOrigin){var i=r.getResponseHeader("X-NewRelic-App-Data");i&&((0,x.p)(O.rs,["Ajax/CrossApplicationTracing/Header/Seen"],void 0,a.K7.metrics,t),e.params.cat=i.split(", ").pop())}e.loadCaptureCalled=!0}t.on("new-xhr",i),t.on("open-xhr-start",o),t.on("open-xhr-end",s),t.on("send-xhr-start",c),t.on("xhr-cb-time",u),t.on("xhr-load-added",d),t.on("xhr-load-removed",l),t.on("xhr-resolved",f),t.on("addEventListener-end",h),t.on("removeEventListener-end",g),t.on("fn-end",v),t.on("fetch-before-start",b),t.on("fetch-start",y),t.on("fn-start",m),t.on("fetch-done",w)}(e,this.ee,this.handler,this.dt),this.importAggregator(e)}}function pe(e,t){var r=(0,ie.D)(t),n=e.params||e;n.hostname=r.hostname,n.port=r.port,n.protocol=r.protocol,n.host=r.hostname+":"+r.port,n.pathname=r.pathname,e.parsedOrigin=r,e.sameOrigin=r.sameOrigin}const ge={},me=["pushState","replaceState"];function ve(e){const t=function(e){return(e||B.ee).get("history")}(e);return!p.RI||ge[t.debugId]++||(ge[t.debugId]=1,(0,W.YM)(t).inPlace(window.history,me,"-")),t}var be=i(3738);const{He:ye,bD:we,d3:Re,Kp:xe,TZ:Te,Lc:Ae,uP:Ee,Rz:Se}=be;class Ne extends b{static featureName=Te;constructor(e,t=!0){super(e,Te,t);if(!(0,m.V)(this.agentIdentifier))return void this.deregisterDrain();const r=this.ee;let n;ve(r),this.eventsEE=(0,F.u)(r),this.eventsEE.on(Ee,(function(e,t){this.bstStart=(0,S.t)()})),this.eventsEE.on(Ae,(function(e,t){(0,x.p)("bst",[e[0],t,this.bstStart,(0,S.t)()],void 0,a.K7.sessionTrace,r)})),r.on(Se+Re,(function(e){this.time=(0,S.t)(),this.startPath=location.pathname+location.hash})),r.on(Se+xe,(function(e){(0,x.p)("bstHist",[location.pathname+location.hash,this.startPath,this.time],void 0,a.K7.sessionTrace,r)}));try{n=new PerformanceObserver((e=>{const t=e.getEntries();(0,x.p)(ye,[t],void 0,a.K7.sessionTrace,r)})),n.observe({type:we,buffered:!0})}catch(e){}this.importAggregator(e,{resourceObserver:n})}}var Oe=i(2614);class _e extends b{static featureName=t.TZ;#i;#o;constructor(e,r=!0){let n;super(e,t.TZ,r),this.replayRunning=!1,this.#o=e;try{n=JSON.parse(localStorage.getItem("".concat(Oe.H3,"_").concat(Oe.uh)))}catch(e){}(0,g.SR)(e.agentIdentifier)&&this.ee.on(t.G4.RECORD,(()=>this.#a())),this.#s(n)?(this.#i=n?.sessionReplayMode,this.#c()):this.importAggregator(e),this.ee.on("err",(e=>{this.replayRunning&&(this.errorNoticed=!0,(0,x.p)(t.G4.ERROR_DURING_REPLAY,[e],void 0,this.featureName,this.ee))})),this.ee.on(t.G4.REPLAY_RUNNING,(e=>{this.replayRunning=e}))}#s(e){return e&&(e.sessionReplayMode===Oe.g.FULL||e.sessionReplayMode===Oe.g.ERROR)||(0,g.Aw)(this.agentIdentifier)}#u=!1;async#c(e){if(!this.#u){this.#u=!0;try{const{Recorder:t}=await Promise.all([i.e(478),i.e(249)]).then(i.bind(i,8589));this.recorder??=new t({mode:this.#i,agentIdentifier:this.agentIdentifier,trigger:e,ee:this.ee}),this.recorder.startRecording(),this.abortHandler=this.recorder.stopRecording}catch(e){}this.importAggregator(this.#o,{recorder:this.recorder,errorNoticed:this.errorNoticed})}}#a(){this.featAggregate?this.featAggregate.mode!==Oe.g.FULL&&this.featAggregate.initializeRecording(Oe.g.FULL,!0):(this.#i=Oe.g.FULL,this.#c(t.Qb.API),this.recorder&&this.recorder.parent.mode!==Oe.g.FULL&&(this.recorder.parent.mode=Oe.g.FULL,this.recorder.stopRecording(),this.recorder.startRecording(),this.abortHandler=this.recorder.stopRecording))}}var Ie=i(3962);class je extends b{static featureName=Ie.TZ;constructor(e,t=!0){if(super(e,Ie.TZ,t),!p.RI||!(0,R.dV)().o.MO)return;const r=ve(this.ee);Ie.tC.forEach((e=>{(0,A.sp)(e,(e=>{a(e)}),!0)}));const n=()=>(0,x.p)("newURL",[(0,S.t)(),""+window.location],void 0,this.featureName,this.ee);r.on("pushState-end",n),r.on("replaceState-end",n);try{this.removeOnAbort=new AbortController}catch(e){}(0,A.sp)("popstate",(e=>(0,x.p)("newURL",[e.timeStamp,""+window.location],void 0,this.featureName,this.ee)),!0,this.removeOnAbort?.signal);let i=!1;const o=new((0,R.dV)().o.MO)(((e,t)=>{i||(i=!0,requestAnimationFrame((()=>{(0,x.p)("newDom",[(0,S.t)()],void 0,this.featureName,this.ee),i=!1})))})),a=(0,v.s)((e=>{(0,x.p)("newUIEvent",[e],void 0,this.featureName,this.ee),o.observe(document.body,{attributes:!0,childList:!0,subtree:!0,characterData:!0})}),100,{leading:!0});this.abortHandler=function(){this.removeOnAbort?.abort(),o.disconnect(),this.abortHandler=void 0},this.importAggregator(e,{domObserver:o})}}var Pe=i(7378);const Ce={},ke=["appendChild","insertBefore","replaceChild"];function Le(e){const t=function(e){return(e||B.ee).get("jsonp")}(e);if(!p.RI||Ce[t.debugId])return t;Ce[t.debugId]=!0;var r=(0,W.YM)(t),n=/[?&](?:callback|cb)=([^&#]+)/,i=/(.*)\.([^.]+)/,o=/^(\w+)(\.|$)(.*)$/;function a(e,t){if(!e)return t;const r=e.match(o),n=r[1];return a(r[3],t[n])}return r.inPlace(Node.prototype,ke,"dom-"),t.on("dom-start",(function(e){!function(e){if(!e||"string"!=typeof e.nodeName||"script"!==e.nodeName.toLowerCase())return;if("function"!=typeof e.addEventListener)return;var o=(s=e.src,c=s.match(n),c?c[1]:null);var s,c;if(!o)return;var u=function(e){var t=e.match(i);if(t&&t.length>=3)return{key:t[2],parent:a(t[1],window)};return{key:e,parent:window}}(o);if("function"!=typeof u.parent[u.key])return;var d={};function l(){t.emit("jsonp-end",[],d),e.removeEventListener("load",l,(0,A.jT)(!1)),e.removeEventListener("error",f,(0,A.jT)(!1))}function f(){t.emit("jsonp-error",[],d),t.emit("jsonp-end",[],d),e.removeEventListener("load",l,(0,A.jT)(!1)),e.removeEventListener("error",f,(0,A.jT)(!1))}r.inPlace(u.parent,[u.key],"cb-",d),e.addEventListener("load",l,(0,A.jT)(!1)),e.addEventListener("error",f,(0,A.jT)(!1)),t.emit("new-jsonp",[e.src],d)}(e[0])})),t}const He={};function De(e){const t=function(e){return(e||B.ee).get("promise")}(e);if(He[t.debugId])return t;He[t.debugId]=!0;var r=t.context,n=(0,W.YM)(t),i=p.gm.Promise;return i&&function(){function e(r){var o=t.context(),a=n(r,"executor-",o,null,!1);const s=Reflect.construct(i,[a],e);return t.context(s).getCtx=function(){return o},s}p.gm.Promise=e,Object.defineProperty(e,"name",{value:"Promise"}),e.toString=function(){return i.toString()},Object.setPrototypeOf(e,i),["all","race"].forEach((function(r){const n=i[r];e[r]=function(e){let i=!1;[...e||[]].forEach((e=>{this.resolve(e).then(a("all"===r),a(!1))}));const o=n.apply(this,arguments);return o;function a(e){return function(){t.emit("propagate",[null,!i],o,!1,!1),i=i||!e}}}})),["resolve","reject"].forEach((function(r){const n=i[r];e[r]=function(e){const r=n.apply(this,arguments);return e!==r&&t.emit("propagate",[e,!0],r,!1,!1),r}})),e.prototype=i.prototype;const o=i.prototype.then;i.prototype.then=function(...e){var i=this,a=r(i);a.promise=i,e[0]=n(e[0],"cb-",a,null,!1),e[1]=n(e[1],"cb-",a,null,!1);const s=o.apply(this,e);return a.nextPromise=s,t.emit("propagate",[i,!0],s,!1,!1),s},i.prototype.then[W.Jt]=o,t.on("executor-start",(function(e){e[0]=n(e[0],"resolve-",this,null,!1),e[1]=n(e[1],"resolve-",this,null,!1)})),t.on("executor-err",(function(e,t,r){e[1](r)})),t.on("cb-end",(function(e,r,n){t.emit("propagate",[n,!0],this.nextPromise,!1,!1)})),t.on("propagate",(function(e,r,n){this.getCtx&&!r||(this.getCtx=function(){if(e instanceof Promise)var r=t.context(e);return r&&r.getCtx?r.getCtx():this})}))}(),t}const Me={},Ke="setTimeout",Ue="setInterval",Ve="clearTimeout",Ge="-start",Fe=[Ke,"setImmediate",Ue,Ve,"clearImmediate"];function Be(e){const t=function(e){return(e||B.ee).get("timer")}(e);if(Me[t.debugId]++)return t;Me[t.debugId]=1;var r=(0,W.YM)(t);return r.inPlace(p.gm,Fe.slice(0,2),Ke+"-"),r.inPlace(p.gm,Fe.slice(2,3),Ue+"-"),r.inPlace(p.gm,Fe.slice(3),Ve+"-"),t.on(Ue+Ge,(function(e,t,n){e[0]=r(e[0],"fn-",null,n)})),t.on(Ke+Ge,(function(e,t,n){this.method=n,this.timerDuration=isNaN(e[1])?0:+e[1],e[0]=r(e[0],"fn-",this,n)})),t}const We={};function ze(e){const t=function(e){return(e||B.ee).get("mutation")}(e);if(!p.RI||We[t.debugId])return t;We[t.debugId]=!0;var r=(0,W.YM)(t),n=p.gm.MutationObserver;return n&&(window.MutationObserver=function(e){return this instanceof n?new n(r(e,"fn-")):n.apply(this,arguments)},MutationObserver.prototype=n.prototype),t}const{TZ:qe,d3:Ze,Kp:Ye,$p:Xe,wW:Je,e5:Qe,tH:$e,uP:et,rw:tt,Lc:rt}=Pe;class nt extends b{static featureName=qe;constructor(e,t=!0){if(super(e,qe,t),!p.RI)return;try{this.removeOnAbort=new AbortController}catch(e){}let r,n=0;const i=this.ee.get("tracer"),o=Le(this.ee),a=De(this.ee),s=Be(this.ee),c=Z(this.ee),u=this.ee.get("events"),d=ne(this.ee),l=ve(this.ee),f=ze(this.ee);function h(e,t){l.emit("newURL",[""+window.location,t])}function g(){n++,r=window.location.hash,this[et]=(0,S.t)()}function m(){n--,window.location.hash!==r&&h(0,!0);var e=(0,S.t)();this[Qe]=~~this[Qe]+e-this[et],this[rt]=e}function v(e,t){e.on(t,(function(){this[t]=(0,S.t)()}))}this.ee.on(et,g),a.on(tt,g),o.on(tt,g),this.ee.on(rt,m),a.on(Je,m),o.on(Je,m),this.ee.on("fn-err",((...t)=>{t[2]?.__newrelic?.[e.agentIdentifier]||(0,x.p)("function-err",[...t],void 0,this.featureName,this.ee)})),this.ee.buffer([et,rt,"xhr-resolved"],this.featureName),u.buffer([et],this.featureName),s.buffer(["setTimeout"+Ye,"clearTimeout"+Ze,et],this.featureName),c.buffer([et,"new-xhr","send-xhr"+Ze],this.featureName),d.buffer([$e+Ze,$e+"-done",$e+Xe+Ze,$e+Xe+Ye],this.featureName),l.buffer(["newURL"],this.featureName),f.buffer([et],this.featureName),a.buffer(["propagate",tt,Je,"executor-err","resolve"+Ze],this.featureName),i.buffer([et,"no-"+et],this.featureName),o.buffer(["new-jsonp","cb-start","jsonp-error","jsonp-end"],this.featureName),v(d,$e+Ze),v(d,$e+"-done"),v(o,"new-jsonp"),v(o,"jsonp-end"),v(o,"cb-start"),l.on("pushState-end",h),l.on("replaceState-end",h),window.addEventListener("hashchange",h,(0,A.jT)(!0,this.removeOnAbort?.signal)),window.addEventListener("load",h,(0,A.jT)(!0,this.removeOnAbort?.signal)),window.addEventListener("popstate",(function(){h(0,n>1)}),(0,A.jT)(!0,this.removeOnAbort?.signal)),this.abortHandler=this.#n,this.importAggregator(e)}#n(){this.removeOnAbort?.abort(),this.abortHandler=void 0}}var it=i(3333);class ot extends b{static featureName=it.TZ;constructor(e,t=!0){super(e,it.TZ,t);const r=[e.init.page_action.enabled,e.init.performance.capture_marks,e.init.performance.capture_measures,e.init.user_actions.enabled];p.RI&&e.init.user_actions.enabled&&(it.Zp.forEach((e=>(0,A.sp)(e,(e=>(0,x.p)("ua",[e],void 0,this.featureName,this.ee)),!0))),it.qN.forEach((e=>(0,A.sp)(e,(e=>(0,x.p)("ua",[e],void 0,this.featureName,this.ee)))))),r.some((e=>e))?this.importAggregator(e):this.deregisterDrain()}}var at=i(993),st=i(3785);class ct extends b{static featureName=at.TZ;constructor(e,t=!0){super(e,at.TZ,t);const r=this.ee;this.ee.on("wrap-logger-end",(function([e]){const{level:t,customAttributes:n}=this;(0,st.R)(r,e,n,t)})),this.importAggregator(e)}}new class extends o{constructor(t,r){super(r),p.gm?(this.features={},(0,R.bQ)(this.agentIdentifier,this),this.desiredFeatures=new Set(t.features||[]),this.desiredFeatures.add(w),this.runSoftNavOverSpa=[...this.desiredFeatures].some((e=>e.featureName===a.K7.softNav)),(0,d.j)(this,t,t.loaderType||"agent"),this.run()):(0,e.R)(21)}get config(){return{info:this.info,init:this.init,loader_config:this.loader_config,runtime:this.runtime}}run(){try{const t=u(this.agentIdentifier),r=[...this.desiredFeatures];r.sort(((e,t)=>a.P3[e.featureName]-a.P3[t.featureName])),r.forEach((r=>{if(!t[r.featureName]&&r.featureName!==a.K7.pageViewEvent)return;if(this.runSoftNavOverSpa&&r.featureName===a.K7.spa)return;if(!this.runSoftNavOverSpa&&r.featureName===a.K7.softNav)return;const n=function(e){switch(e){case a.K7.ajax:return[a.K7.jserrors];case a.K7.sessionTrace:return[a.K7.ajax,a.K7.pageViewEvent];case a.K7.sessionReplay:return[a.K7.sessionTrace];case a.K7.pageViewTiming:return[a.K7.pageViewEvent];default:return[]}}(r.featureName).filter((e=>!(e in this.features)));n.length>0&&(0,e.R)(36,{targetFeature:r.featureName,missingDependencies:n}),this.features[r.featureName]=new r(this)}))}catch(t){(0,e.R)(22,t);for(const e in this.features)this.features[e].abortHandler?.();const r=(0,R.Zm)();delete r.initializedAgents[this.agentIdentifier]?.api,delete r.initializedAgents[this.agentIdentifier]?.features,delete this.sharedAggregator;return r.ee.get(this.agentIdentifier).abort(),!1}}}({features:[he,w,N,Ne,_e,_,D,ot,ct,je,nt],loaderType:"spa"})})()})();</script> <meta name="description" content="The Yale Program on Financial Stability’s mission is to create, disseminate, and preserve knowledge about financial crises." /> <link rel="canonical" href="https://som.yale.edu/centers/program-on-financial-stability" /> <link rel="icon" href="/themes/custom/som/images/favicons/favicon.ico" /> <link rel="mask-icon" href="/themes/custom/som/images/favicons/safari-pinned-tab.svg" color="000f9f" /> <link rel="icon" sizes="16x16" href="/themes/custom/som/images/favicons/favicon-16x16.png" /> <link rel="icon" sizes="32x32" href="/themes/custom/som/images/favicons/favicon-32x32.png" /> <link rel="icon" sizes="96x96" href="/themes/custom/som/images/favicons/favicon-96x96.png" /> <link rel="icon" sizes="192x192" href="/themes/custom/som/images/favicons/favicon-192x192.png" /> <link rel="apple-touch-icon" href="/themes/custom/som/images/favicons/apple-touch-icon-60x60.png" /> <link rel="apple-touch-icon" sizes="72x72" href="/themes/custom/som/images/favicons/apple-touch-icon-72x72.png" /> <link rel="apple-touch-icon" sizes="76x76" href="/themes/custom/som/images/favicons/apple-touch-icon-76x76.png" /> <link rel="apple-touch-icon" sizes="114x114" href="/themes/custom/som/images/favicons/apple-touch-icon-114x114.png" /> <link rel="apple-touch-icon" sizes="120x120" href="/themes/custom/som/images/favicons/apple-touch-icon-120x120.png" /> <link rel="apple-touch-icon" sizes="144x144" href="/themes/custom/som/images/favicons/apple-touch-icon-144x144.png" /> <link rel="apple-touch-icon" sizes="152x152" href="/themes/custom/som/images/favicons/apple-touch-icon-152x152.png" /> <link rel="apple-touch-icon" sizes="180x180" href="/themes/custom/som/images/favicons/apple-touch-icon-180x180.png" /> <meta property="og:url" content="https://som.yale.edu/centers/program-on-financial-stability" /> <meta property="og:title" content="Program on Financial Stability" /> <meta property="og:description" content="The Yale Program on Financial Stability’s mission is to create, disseminate, and preserve knowledge about financial crises." /> <meta property="og:image" content="https://som.yale.edu/sites/default/files/styles/open_graph/public/2023-09/MMS%20SR%202024.jpg?h=d6997590&itok=kbii1uKU" /> <meta property="og:image:url" content="https://som.yale.edu/sites/default/files/styles/open_graph/public/2023-09/MMS%20SR%202024.jpg?h=d6997590&itok=kbii1uKU" /> <meta name="twitter:card" content="summary" /> <meta name="twitter:title" content="Program on Financial Stability" /> <meta name="twitter:description" content="The Yale Program on Financial Stability’s mission is to create, disseminate, and preserve knowledge about financial crises." /> <meta name="twitter:site" content="@YaleSOM" /> <meta name="twitter:url" content="https://som.yale.edu/centers/program-on-financial-stability" /> <meta name="twitter:image" content="https://som.yale.edu/sites/default/files/styles/open_graph/public/2023-09/MMS%20SR%202024.jpg?h=d6997590&itok=kbii1uKU" /> <script>window.dataLayer = window.dataLayer || []; window.dataLayer.push({"entityBundle":"center","entityId":"106","entityTitle":"Program on Financial Stability","entityTaxonomy":[],"entityType":"node"});</script> <meta name="Generator" content="Drupal 9 (https://www.drupal.org)" /> <meta name="MobileOptimized" content="width" /> <meta name="HandheldFriendly" content="true" /> <meta name="viewport" content="width=device-width, initial-scale=1.0" /> <style>html{box-sizing:border-box}*,*::before,*::after{box-sizing:border-box}body,h1,h2,h3,h4,h5,h6,p,figure,blockquote,dl,dd{margin:0}ul[role=list],ol[role=list]{list-style:none}html:focus-within{scroll-behavior:auto}body{min-height:100vh;text-rendering:optimizeSpeed;line-height:1.5}img,picture{max-width:100%;display:block}input,button,textarea,select{font:inherit}@media(prefers-reduced-motion: reduce){html:focus-within{scroll-behavior:auto}*,*::before,*::after{animation-duration:.01ms !important;animation-iteration-count:1 !important;transition-duration:.01ms !important;scroll-behavior:auto !important}}.motion{padding:0 1rem}@media(min-width: 920px){.motion__grid{display:flex;flex-wrap:wrap}}@media(min-width: 920px){.motion__grid-item{margin-bottom:1rem;margin-right:1rem;width:49%}.motion__grid-item:nth-child(2n){margin-right:0}}.demo-motion{background-color:clr(yale-grey);border-radius:2px;cursor:pointer;padding:3rem;text-align:center}.demo-motion::before{content:"Duration: 0.3s";display:block}.demo-motion::after{content:"Timing Function: ease-in-out"}.demo-motion span{display:block;margin:.25rem}.demo-motion--fade{transition:all .3s ease-in-out 0ms}.demo-motion--fade:hover,.demo-motion--fade:focus{background-color:clr(accent-high);color:clr(muted)}.demo-motion--slide-up{transition:transform .4s ease-in 0ms}.demo-motion--slide-up::before{content:"Duration: 0.4s";display:block}.demo-motion--slide-up::after{content:"Timing Function: ease-in"}.demo-motion--slide-up:hover,.demo-motion--slide-up:focus{transform:translateY(-10px)}.demo-motion--slide-down{transition:transform .2s linear 0ms}.demo-motion--slide-down::before{content:"Duration: 0.2s";display:block}.demo-motion--slide-down::after{content:"Timing Function: linear"}.demo-motion--slide-down:hover,.demo-motion--slide-down:focus{transform:translateY(10px)}.demo-motion--expand{transition:transform .3s cubic-bezier(0.17, 0.67, 0.83, 0.67) 0ms}.demo-motion--expand::before{content:"Duration: 0.3s";display:block}.demo-motion--expand::after{content:"Timing Function: cubic-bezier(.17,.67,.83,.67)"}.demo-motion--expand:hover,.demo-motion--expand:focus{transform:scale(1.03)}.menu__close-sub{--button-border: 0;--button-background-color: transparent;--button-padding: 0;--link-border: 0;--link-background-color: transparent;--link-padding: 0}:root [data-theme=default] *::selection{background:#000f9f;color:#fff}.site-header--center .site-header__submenu-container,.site-header--center .site-header__cta,.site-header__home-link,.site-header__cta,.secondary-nav[data-secondary-nav-state=open],.menu--secondary-menu .menu__section-link,[data-component-theme=dark]{--color: #bec8e0;--color-deemphasis: #9babd0;--border-color: #fff;--button-color: #fff;--heading-color: #fff;--link-color: #fff;--link-color-hover: #bec8e0;--paragraph-color: #bec8e0;--gn-logo-color: #fff;--yalesom-logo-text-color: #fff;--yalesom-logo-shield-outline-color: #9CB6D3}.site-header--center .site-header__submenu-container h2,.site-header--center .site-header__cta h2,.site-header__home-link h2,.site-header__cta h2,.secondary-nav[data-secondary-nav-state=open] h2,.menu--secondary-menu .menu__section-link h2,[data-component-theme=dark] h2,.site-header--center .site-header__submenu-container h3,.site-header--center .site-header__cta h3,.site-header__home-link h3,.site-header__cta h3,.secondary-nav[data-secondary-nav-state=open] h3,.menu--secondary-menu .menu__section-link h3,[data-component-theme=dark] h3,.site-header--center .site-header__submenu-container h4,.site-header--center .site-header__cta h4,.site-header__home-link h4,.site-header__cta h4,.secondary-nav[data-secondary-nav-state=open] h4,.menu--secondary-menu .menu__section-link h4,[data-component-theme=dark] h4,.site-header--center .site-header__submenu-container h5,.site-header--center .site-header__cta h5,.site-header__home-link h5,.site-header__cta h5,.secondary-nav[data-secondary-nav-state=open] h5,.menu--secondary-menu .menu__section-link h5,[data-component-theme=dark] h5,.site-header--center .site-header__submenu-container h6,.site-header--center .site-header__cta h6,.site-header__home-link h6,.site-header__cta h6,.secondary-nav[data-secondary-nav-state=open] h6,.menu--secondary-menu .menu__section-link h6,[data-component-theme=dark] h6{--color: #fff}.site-header--center .site-header__submenu-container svg:not(a svg),.site-header--center .site-header__cta svg:not(a svg),.site-header__home-link svg:not(a svg),.site-header__cta svg:not(a svg),.secondary-nav[data-secondary-nav-state=open] svg:not(a svg),.menu--secondary-menu .menu__section-link svg:not(a svg),[data-component-theme=dark] svg:not(a svg){fill:var(--svg-fill-color, #fff)}.site-header--center .site-header__submenu-container *::selection,.site-header--center .site-header__cta *::selection,.site-header__home-link *::selection,.site-header__cta *::selection,.secondary-nav[data-secondary-nav-state=open] *::selection,.menu--secondary-menu .menu__section-link *::selection,[data-component-theme=dark] *::selection{background:#fff;color:#000f9f}.site-header__menu,.secondary-nav[data-secondary-nav-state=open] .menu{scrollbar-color:var(--custom-scrollbar-color, #bec8e0) rgba(0,0,0,0);scrollbar-width:.5rem}.site-header__menu::-webkit-scrollbar,.secondary-nav[data-secondary-nav-state=open] .menu::-webkit-scrollbar{background:rgba(0,0,0,0);width:.5rem}.site-header__menu::-webkit-scrollbar-track,.secondary-nav[data-secondary-nav-state=open] .menu::-webkit-scrollbar-track{box-shadow:none}.site-header__menu::-webkit-scrollbar-track-piece,.secondary-nav[data-secondary-nav-state=open] .menu::-webkit-scrollbar-track-piece{background-color:var(--custom-scrollbar-track, #000f9f)}.site-header__menu::-webkit-scrollbar-thumb,.secondary-nav[data-secondary-nav-state=open] .menu::-webkit-scrollbar-thumb{background:var(--custom-scrollbar-color, #bec8e0)}.node__header--story .node__summary,.node__header--story .node__metadata,.menu--secondary-menu .menu__help-text,.hero-animation__heading,h1,h2,h3,h4,h5,h6,.heading:not(h1,h2,h3,h4,h5,h6){--link-font-weight: 800;color:var(--heading-color, var(--color, inherit));font-size:var(--heading-font-size, var(--font-size, clamp( 0.6180469716rem, calc(0.4907292954rem + 0.5658563384vw), 1rem )));font-family:var(--heading-font-family, neue-haas-unica, HelveticaNeue, Arial, sans-serif);font-weight:var(--heading-font-weight, 800);letter-spacing:var(--heading-letter-spacing, -0.02rem);line-height:var(--heading-line-height, var(--line-height, 1.618));margin:var(--heading-margin, 0 0 0.25em);text-wrap:var(--heading-text-wrap)}h1,.heading--xl{--heading-font-size: clamp( 2.3211991627rem, calc(1.8430321352rem + 2.125186789vw), 3.7557002452rem );--heading-line-height: 1.1278325626;--heading-margin: 0 0 0.6180469716em;--heading-text-wrap: balance}.node__header--podcast .node__title,.hero-animation__heading,h2,.heading--l{--heading-font-size: clamp( 1.4346101129rem, calc(1.1390804297rem + 1.3134652589vw), 2.3211991627rem );--heading-line-height: 1.2720062893}.node__header--story .node__summary,.menu--secondary-menu .menu__help-text,h3,.heading--m{--heading-font-size: clamp( 1.1278325626rem, calc(1.0255733792rem + 0.4544852597vw), 1.4346101129rem );--heading-line-height: 1.4346101129}h4,.heading--s{--heading-font-size: clamp( 1rem, calc(0.9093312369rem + 0.4029722804vw), 1.2720062893rem );--heading-line-height: 1.4346101129}h5,.heading--xs{--color: #001c42;--heading-font-size: clamp( 0.7861596349rem, calc(0.7148795132rem + 0.3168005409vw), 1rem );--heading-line-height: 1.4346101129}h6,.heading--2xs{--color: #001c42;--heading-font-size: clamp( 0.6180469716rem, calc(0.5620094171rem + 0.2490557975vw), 0.7861596349rem );--heading-line-height: 1.618}.menu__button-inner{display:inline;-webkit-text-decoration:var(--link-text-decoration, underline);text-decoration:var(--link-text-decoration, underline);-webkit-text-decoration-color:var(--link-underline-color, #bec8e0);text-decoration-color:var(--link-underline-color, #bec8e0);text-decoration-thickness:var(--link-underline-size, 0.125em);-webkit-text-decoration-skip-ink:var(--link-underline-skip, none);text-decoration-skip-ink:var(--link-underline-skip, none);text-underline-offset:var(--link-underline-offset, 0.125em);transition:all 200ms ease-in-out}.menu__button-inner:hover,.menu__button-inner:focus-visible{--link-underline-offset: var(--link-underline-offset-hover, 0em);-webkit-text-decoration:var(--link-text-decoration-hover, underline);text-decoration:var(--link-text-decoration-hover, underline);-webkit-text-decoration-color:var(--link-underline-color, #bec8e0);text-decoration-color:var(--link-underline-color, #bec8e0);text-decoration-thickness:var(--link-hover-size, 0.125em)}.menu--secondary-menu .menu__section-link,.menu a,.menu__link,.menu__expand-button .menu__title,.teaser--ampersand .teaser__link,.text-long a,p a,h1 a,h2 a,h3 a,h4 a,h5 a,h6 a,a figcaption,a p.has-style-annotation{display:var(--link-text-display, inline);-webkit-text-decoration:var(--link-text-decoration, underline);text-decoration:var(--link-text-decoration, underline);-webkit-text-decoration-color:var(--link-underline-color, #bec8e0);text-decoration-color:var(--link-underline-color, #bec8e0);text-decoration-thickness:var(--link-underline-size, 0.125em);-webkit-text-decoration-skip-ink:var(--link-underline-skip, none);text-decoration-skip-ink:var(--link-underline-skip, none);text-underline-offset:var(--link-underline-offset, 0.125em)}.menu--secondary-menu .menu__section-link:hover,.menu a:hover,.menu__link:hover,.menu__expand-button .menu__title:hover,.teaser--ampersand .teaser__link:hover,.text-long a:hover,p a:hover,h1 a:hover,h2 a:hover,h3 a:hover,h4 a:hover,h5 a:hover,h6 a:hover,a figcaption:hover,a p.has-style-annotation:hover,.menu--secondary-menu .menu__section-link:focus-visible,.menu a:focus-visible,.menu__link:focus-visible,.menu__expand-button .menu__title:focus-visible,.teaser--ampersand .teaser__link:focus-visible,.text-long a:focus-visible,p a:focus-visible,h1 a:focus-visible,h2 a:focus-visible,h3 a:focus-visible,h4 a:focus-visible,h5 a:focus-visible,h6 a:focus-visible,a figcaption:focus-visible,a p.has-style-annotation:focus-visible{--link-underline-offset: var(--link-underline-offset-hover, 0em);-webkit-text-decoration:var(--link-text-decoration-hover, underline);text-decoration:var(--link-text-decoration-hover, underline);-webkit-text-decoration-color:var(--link-underline-color, #bec8e0);text-decoration-color:var(--link-underline-color, #bec8e0);text-decoration-thickness:var(--link-hover-size, 0.3125em)}.text-long>div,p{color:var(--paragraph-color, var(--color, inherit));font-size:var(--paragraph-font-size, var(--font-size, clamp( 1rem, calc(0.9093312369rem + 0.4029722804vw), 1.2720062893rem )));font-weight:var(--paragraph-font-weight, var(--font-weight, 300));font-family:var(--paragraph-font-family, var(--font-family, inherit));line-height:var(--paragraph-line-height, var(--line-height, 1.618));margin:var(--paragraph-margin, 0 0 1em)}.node__header--event .node__event-details{font-size:var(--font-size, clamp( 1rem, calc(0.9093312369rem + 0.4029722804vw), 1.2720062893rem ));font-family:var(--font-family, YaleNew, Times New Roman, serif);line-height:var(--font-line-height, 1.618)}p.has-size-xl{--font-size: clamp( 2.3211991627rem, calc(1.8430321352rem + 2.125186789vw), 3.7557002452rem );--line-height: 1.1278325626}.site-header__cta-text,p.has-size-lg{--font-size: clamp( 1.2720062893rem, calc(1.0099729937rem + 1.1645924249vw), 2.0581061761rem );--line-height: 1.2720062893}.text__byline{--font-size: clamp( 1rem, calc(0.9093312369rem + 0.4029722804vw), 1.2720062893rem )}.node__header--podcast-series .node__header-after .details-with-image,p.has-size-sm,figcaption,p.has-style-annotation{--font-size: clamp( 0.7861596349rem, calc(0.7148795132rem + 0.3168005409vw), 1rem )}[stuck] .menu--secondary-menu .menu__heading,.menu--secondary-menu .menu__description{position:absolute !important;clip:rect(1px, 1px, 1px, 1px);overflow:hidden;height:1px;width:1px;word-wrap:normal}html{box-sizing:border-box;font-size:112.5%;scroll-padding-top:6.25rem}body{--header-menu-top: 0px;--content-safe-area-left: 1rem;--content-safe-area-right: 1rem;-webkit-font-smoothing:antialiased;-moz-osx-font-smoothing:grayscale;color:#121212;background-color:#fff;font-size:var(--font-size, clamp( 1rem, calc(0.9093312369rem + 0.4029722804vw), 1.2720062893rem ));font-family:var(--paragraph-font-family, YaleNew, Times New Roman, serif);line-height:var(--paragraph-line-height, var(--font-line-height, 1.618));overflow-x:hidden}@media(min-width: 768px){body{--content-safe-area-left: 2.617924rem;--content-safe-area-right: 2.617924rem}}body.toolbar-horizontal:where(:not(.gin--vertical-toolbar)),body.toolbar-vertical:where(:not(.gin--vertical-toolbar)){--header-menu-top: 39px}body.toolbar-horizontal.toolbar-tray-open:where(:not(.gin--vertical-toolbar)){--header-menu-top: 79px}*,*::after,*::before{box-sizing:inherit}.main{max-width:1368px;width:100%;padding:0 1.25rem;margin-left:auto;margin-right:auto;display:block}@media(min-width: 480px){.main{padding:0 1.25rem}}@media(min-width: 1368px){.main{padding-left:calc( 1.25rem + calc(-50vw + calc(1368px / 2)) );padding-right:calc( 1.25rem + calc(-50vw + calc(1368px / 2)) )}}.visually-hidden{position:absolute !important;clip:rect(1px, 1px, 1px, 1px);overflow:hidden;height:1px;width:1px;word-wrap:normal}*::selection{background:#000f9f;color:#fff}button{background-color:var(--button-background-color, transparent);border:var(--button-border, none);border-color:var(--button-border-color, transparent);color:var(--button-color, var(--c-yale-blue));cursor:pointer;display:var(--button-display, inherit);font-family:var(--button-font-family, neue-haas-unica, HelveticaNeue, Arial, sans-serif);font-size:var(--button-font-size, inherit);font-weight:var(--button-font-weight, 800);line-height:var(--button-line-height, 1);padding:var(--button-padding, 0);margin:var(--button-margin, 0);text-align:var(--button-text-align, center);-webkit-text-decoration:var(--button-text-decoration, none);text-decoration:var(--button-text-decoration, none);transition:var(--button-transition, all 0.25s)}button:focus{outline:.0625rem dotted;outline-offset:.125rem}[data-whatintent=keyboard] button:focus{outline:.3125rem solid}button:not([disabled]):hover,button:not([disabled]):focus{background-color:var(--button-background-color-hover, var(--button-background-color));border-color:var(--button-border-color-hover, var(--button-border-color));color:var(--button-color-hover, var(--button-color));outline-color:var(--button-outline-color-hover, var(--button-border-color))}button[disabled]{opacity:.5;cursor:auto}.figure{margin:0}.figure__caption{--icon-width: 1rem;--icon-height: 1rem;margin-top:.5em}.icon{max-width:100%;height:var(--icon-height, inherit);width:var(--icon-width, inherit)}.icons-demo{display:flex;flex-wrap:wrap}.icons-demo .icon{height:100px;padding:1rem;width:100px}@media(prefers-color-scheme: dark){.icons-demo .icon{fill:var(--c-accent-high)}}.icons-demo pre{background-color:var(--c-muted);font-size:.8rem;margin:0;text-align:center}.icons-demo__item{border:1px solid var(--c-muted);margin:1rem}img,picture{display:block;height:auto;max-width:100%}svg{fill:var(--svg-fill-color, inherit);max-width:100%;height:var(--svg-height, inherit);width:var(--svg-width, inherit)}figure{margin:0}figcaption,p.has-style-annotation{color:var(--figcaption-color, var(--color, #707070));font-family:var(--figcaption-font-family, "neue-haas-unica", "HelveticaNeue", "Arial", sans-serif);font-size:var(--figcaption-font-size, var(--font-size, inherit))}a figcaption,a p.has-style-annotation{--link-text-decoration: none;--link-text-display: block;color:var(--link-color, #000f9f)}.yalesom-logo{height:var(--logo-height, auto);width:var(--logo-width, 100%)}a{--svg-fill-color: var(--link-color, #000f9f);background-color:var(--link-background-color, transparent);border:var(--link-border, none);border-color:var(--link-border-color, inherit);color:var(--link-color, #000f9f);cursor:var(--link-cursor, pointer);display:var(--link-display, inline);font-family:var(--link-font-family, neue-haas-unica, HelveticaNeue, Arial, sans-serif);font-size:var(--link-font-size, inherit);font-weight:var(--link-font-weight, 300);letter-spacing:var(--link-letter-spacing, inherit);line-height:var(--link-line-height, inherit);margin:var(--link-margin, 0);padding:var(--link-padding, 0);-webkit-text-decoration:var(--link-text-decoration, none);text-decoration:var(--link-text-decoration, none);text-transform:var(--link-text-transform, inherit);transition:var(--link-transition, all 0.25s)}a:focus-visible{--link-text-decoration-hover: none;outline:.3125rem solid var(--link-outline-color, var(--link-color, #000f9f));outline-offset:.125rem}a:hover{--svg-fill-color: var(--link-color-hover);background-color:var(--link-background-color-hover, var(--link-background-color));border-color:var(--link-border-color-hover, var(--link-border-color));color:var(--link-color-hover, var(--link-color, #000f9f));outline-color:var(--link-outline-color-hover, var(--link-border-color))}.link{--link-font-weight: 800}.link--external,a[rel=external]{--link-margin: 0 1.25em 0 0;position:relative}.link--external .icon,a[rel=external] .icon{bottom:0;fill:var(--svg-fill-color, currentColor);height:.625em;position:absolute;translate:.25em -0.25em;width:.625em;vertical-align:bottom}@supports(-moz-appearance: none){.link--external .icon,a[rel=external] .icon{margin-left:-0.875em;position:relative;translate:.875em -0.25em}}a[href*=".doc"]::before,a[href*=".docx"]::before,a[href*=".xlsx"]::before,a[href*=".xls"]::before,a[href*=".pdf"]::before{-webkit-mask:url("../images/icons/download.svg") no-repeat center/contain;background-color:var(--svg-fill-color, currentColor);-webkit-mask-size:cover;mask-size:cover;background-size:1rem 1rem;width:1rem;height:1rem;position:relative;display:inline-block;margin-right:.25rem;opacity:1;transform:translateY(10%);content:""}.heading--thick{--heading-margin: 0 0 1em;padding-bottom:.3819820591em;border-bottom:0.2360828548em solid currentColor}.heading--thin{--heading-margin: 0 0 0.3819820591em;padding-bottom:.3819820591em;border-bottom:0.1459102934em solid currentColor}.heading--left{text-align:left}.heading--center{text-align:center}.heading--right{text-align:right}.heading--light{--heading-font-weight: 300}blockquote{--font-size: clamp( 1.2720062893rem, calc(1.1566750524rem + 0.5125832751vw), 1.618rem );--line-height: 1.2720062893;--paragraph-margin: 0 0 0.5em;margin:var(--blockquote-margin, 2em 0);padding-left:var(--blockquote-padding-left, 1.618em);border-left:var(--blockquote-border-color, var(--color)) solid .2360828548em}@container (width < 17.9420103827rem){blockquote{--font-size: 1.2720062893rem}}blockquote>p{display:inline;position:relative}blockquote>p:first-of-type::before{content:open-quote;color:var(--blockquote-color, var(--color, inherit));display:block;font-size:clamp( 2.617924rem, calc(1.2060566434rem + 6.2749660293vw), 6.8535260698rem );left:0;line-height:.618;position:absolute;translate:-100% 0}blockquote>p:last-of-type::after{font-size:var(--font-size);line-height:var(--line-height);content:close-quote;color:var(--blockquote-color, var(--color, inherit));display:inline}blockquote .quote-attribution{color:var(--blockquote-attribution-color, var(--color, #707070))}hr,.hr{margin:2.617924rem 0;background:var(--hr-color, var(--color, #121212));border-style:solid;border-width:2px 0 0;border-color:var(--hr-color, var(--color, #121212))}.hr--shield{height:1.75rem;border:none;background:url("../images/icons/shield.svg") no-repeat;background-position:50% 50%}.hr--thick{margin:4.235801032rem 0;border-width:.625rem}p:last-of-type{--paragraph-margin: 0}p.has-margin-lg{--paragraph-margin: 0 0 2.617924em}p.has-margin-sm{--paragraph-margin: 0 0 0.6180469716em}p.has-style-annotation{--paragraph-margin: 0 0 0.25em}p.heading{--heading-font-weight: 300;--heading-margin: 0 0 1em}p.text-align-right{margin-left:auto;text-align:right}p a{--link-font-size: 89%;--link-font-weight: 800}strong{font-weight:800}span{font-size:var(--span-font-size, var(--font-size, inherit));line-height:var(--span-line-height, var(--line-height, inherit))}.text__byline{margin-top:1.618rem}@media(min-width: 1080px){.text--left{border-left:.1459102934rem solid var(--paragraph-color, var(--color, currentColor));padding-left:1.618rem}}@media(min-width: 1080px){.text--right{border-right:.1459102934rem solid var(--paragraph-color, var(--color, currentColor));padding-right:1.618rem}}.text--top{border-top:.1459102934rem solid var(--paragraph-color, var(--color, currentColor));padding-top:1rem}.text--bottom{border-bottom:.1459102934rem solid var(--paragraph-color, var(--color, currentColor));padding-bottom:1rem}.text-long{max-width:80ch}.text-long h2:not(:first-child),.text-long h3:not(:first-child),.text-long h4:not(:first-child),.text-long h5:not(:first-child),.text-long h6:not(:first-child){--heading-margin: 1em 0 0.25em}.text-long h2+h2,.text-long h2+h3,.text-long h2+h4,.text-long h2+h5,.text-long h2+h6,.text-long h3+h2,.text-long h3+h3,.text-long h3+h4,.text-long h3+h5,.text-long h3+h6,.text-long h4+h2,.text-long h4+h3,.text-long h4+h4,.text-long h4+h5,.text-long h4+h6,.text-long h5+h2,.text-long h5+h3,.text-long h5+h4,.text-long h5+h5,.text-long h5+h6,.text-long h6+h2,.text-long h6+h3,.text-long h6+h4,.text-long h6+h5,.text-long h6+h6{margin-top:0}.text-long li a{--link-font-size: 89%;--link-font-weight: 800}article>.text-long{margin-bottom:var(--layout-margin-bottom, 1rem);margin-left:auto;margin-right:auto}@media(min-width: 1080px){article>.text-long{max-width:var(--layout-width, min(66.67%, 75.9987860952rem * 0.667))}}.toggle{--toggle-weight: 0.125em;display:inline-block;position:relative}.toggle--hamburger{overflow:hidden}.toggle--hamburger .toggle__bar--1{transform:translateY(calc(var(--toggle-size, 1em) * -0.25))}.toggle--hamburger .toggle__bar--4{transform:translateY(calc(var(--toggle-size, 1em) * 0.25))}.toggle--hamburger .toggle__label{display:block;left:100%;opacity:0;position:absolute;top:50%;transform:translateY(-48%)}.toggle--plus::after{transform:rotate(90deg)}.toggle--down-caret::after,.toggle--down-caret::before{--toggle-top: calc(50% + var(--toggle-size, 1em) * 0.375);--toggle-width: calc(var(--toggle-size, 1em) * 0.5);right:0}.toggle--down-caret::before{transform:translate(calc(-75% + var(--toggle-weight)), calc(var(--toggle-weight) * 0.5)) rotate(45deg);transform-origin:right top}.toggle--down-caret::after{transform:translate(calc(25% + var(--toggle-weight) * -0.25), 0) rotate(-45deg);transform-origin:left bottom}.toggle--down-caret .toggle__label{padding-right:calc(var(--toggle-width, var(--toggle-size, 1em))*.75)}.toggle--thin{--toggle-weight: 0.0625em}.toggle--count-0::after,.toggle--count-0::before{content:""}.toggle__bar,.toggle--count-0::after,.toggle--count-0::before{background-color:var(--toggle-color, currentColor);border-top:var(--toggle-weight) solid var(--toggle-color, currentColor);border-bottom:var(--toggle-weight) solid var(--toggle-color, currentColor);height:0;position:absolute;display:block;top:var(--toggle-top, calc(50% - var(--toggle-weight)));transition:all 200ms ease-in-out,transform 200ms ease-in-out 200ms;width:var(--toggle-width, 100%)}.toggle--count-0{min-height:var(--toggle-height, var(--toggle-size, 1em));min-width:var(--toggle-width, var(--toggle-size, 1em))}.toggle__bars,.toggle--count-0{position:relative}.toggle__bars{display:block;height:var(--toggle-height, var(--toggle-size, 1em));width:var(--toggle-width, var(--toggle-size, 1em));transition:transform 200ms ease-in-out 200ms}.toggle__label{display:none;font-size:var(--toggle-label-size, 61.8%);left:100%;transition:all 100ms ease-out 100ms}.toggle:hover.toggle--hamburger .toggle__label,.toggle:focus.toggle--hamburger .toggle__label{left:0;opacity:1}.toggle:hover.toggle--hamburger .toggle__bar--2,.toggle:hover.toggle--hamburger .toggle__bar--3,.toggle:focus.toggle--hamburger .toggle__bar--2,.toggle:focus.toggle--hamburger .toggle__bar--3{width:0}[open] .toggle.toggle--hamburger .toggle__bar--1,.toggle[aria-expanded=true].toggle--hamburger .toggle__bar--1{opacity:0;transform:rotate(-200%)}[open] .toggle.toggle--hamburger .toggle__bar--2,.toggle[aria-expanded=true].toggle--hamburger .toggle__bar--2{transform:rotate(45deg);width:100%}[open] .toggle.toggle--hamburger .toggle__bar--3,.toggle[aria-expanded=true].toggle--hamburger .toggle__bar--3{transform:rotate(135deg);width:100%}[open] .toggle.toggle--hamburger .toggle__bar--4,.toggle[aria-expanded=true].toggle--hamburger .toggle__bar--4{opacity:0;transform:rotate(200%)}[open] .toggle.toggle--hamburger .toggle__label,.toggle[aria-expanded=true].toggle--hamburger .toggle__label{opacity:0}[open] .toggle.toggle--plus::after,.toggle[aria-expanded=true].toggle--plus::after{transform:rotate(180deg)}[open] .toggle.toggle--down-caret::before,.toggle[aria-expanded=true].toggle--down-caret::before{transform:translate(calc(-100% + var(--toggle-weight)), calc(var(--toggle-size, 1em) * -0.5 - var(--toggle-weight) * -0.5)) rotate(-45deg)}[open] .toggle.toggle--down-caret::after,.toggle[aria-expanded=true].toggle--down-caret::after{transform:translate(calc(0% + var(--toggle-weight) * -0.25), calc(var(--toggle-size, 1em) * -0.5)) rotate(45deg)}.teaser--ampersand{--hero-bg-color: #000f9f;background-color:var(--hero-bg-color);display:grid;isolation:isolate;overflow:hidden;position:relative;min-height:80vh;min-height:80dvh;transition:height 200ms ease-in-out}@media(min-width: 768px){.teaser--ampersand{min-height:37.5rem}}.teaser--ampersand .teaser__ampersand,.teaser--ampersand .teaser__content,.teaser--ampersand .teaser__media-container,.teaser--ampersand .teaser__words{grid-column:1/-1;grid-row:1/-1}.teaser--ampersand .teaser__ampersand{z-index:11}.teaser--ampersand .teaser__ampersand,.teaser--ampersand .teaser__content-ampersand{inset:-3%;pointer-events:none;position:absolute;text-align:center}.teaser--ampersand .teaser__ampersand svg,.teaser--ampersand .teaser__content-ampersand svg{isolation:isolate;width:100%;height:100%;max-height:106%}.teaser--ampersand .teaser__ampersand path,.teaser--ampersand .teaser__content-ampersand path{position:relative}.teaser--ampersand .teaser__content,.teaser--ampersand .teaser__heading{margin:0 auto;max-width:75.9987860952rem;width:100%}.teaser--ampersand .teaser__content{--color: #fff;--link-color: #fff;--teaser-font-size: clamp( 1rem, calc(0.9093312369rem + 0.4029722804vw), 1.2720062893rem );--heading-font-weight: 300;--font-family: neue-haas-unica, HelveticaNeue, Arial, sans-serif;--paragraph-line-height: 1.618;align-items:center;background-color:var(--hero-bg-color);clip-path:polygon(0% 50%, 0% 50%, 100% 50%, 100% 50%);display:grid;margin:20vh 0;margin:20dvh 0;overflow:hidden;padding:1.618rem;position:static;transition:clip-path 236ms ease-in-out;z-index:12}@media(min-width: 768px){.teaser--ampersand .teaser__content{gap:1.618rem;isolation:isolate;margin:0 auto;clip-path:polygon(50% 0%, 50% 0%, 50% 100%, 50% 100%);width:max(34.375rem, 38.19%)}}.teaser--ampersand .teaser__link{--link-text-decoration: none}.teaser--ampersand .teaser__heading{display:block}.teaser--ampersand .teaser__text{display:inline}.teaser--ampersand .teaser__text *{display:inline;font-size:inherit}.teaser--ampersand .teaser__content-ampersand{mix-blend-mode:multiply;z-index:-1}.teaser--ampersand .teaser__heading,.teaser--ampersand .teaser__words{color:#fff;font-size:clamp( 2.617924rem, calc(1.6945768157rem + 4.1037652635vw), 5.3879655529rem );font-family:"Stencil","HelveticaNeue","Arial",sans-serif;line-height:.75}.teaser--ampersand .teaser__media-container{display:grid;grid-template-rows:1fr 1fr;overflow:hidden;z-index:1}@media(min-width: 768px){.teaser--ampersand .teaser__media-container{grid-template-columns:1fr 1fr;grid-template-rows:1fr;max-height:max(80vh,37.5rem)}}.teaser--ampersand .teaser__media-container>.media{background-color:#000f9f;overflow:hidden}.teaser--ampersand .teaser__media-container img,.teaser--ampersand .teaser__media-container picture{height:100%;width:100%}.teaser--ampersand .teaser__media-container img{-o-object-fit:cover;object-fit:cover;opacity:.8}.teaser--ampersand .teaser__words{align-self:center;display:flex;flex-direction:column;flex-wrap:wrap;gap:.25em;max-width:100vw;padding:0 var(--content-safe-area-right) 0 var(--content-safe-area-left);translate:0 -5%;z-index:10}@media(min-width: 768px){.teaser--ampersand .teaser__words{display:inline-flex;flex-direction:row;flex-wrap:nowrap;gap:0;justify-content:center;text-align:center}}html:where(:not(.js)) .teaser--ampersand .teaser__words{z-index:12}.teaser--ampersand .teaser__word{--span-font-size: 200%;flex:0 1 0%;-webkit-hyphens:initial;-ms-hyphens:initial;hyphens:initial;max-width:100%;opacity:0;word-wrap:break-word}@media(min-width: 768px){.teaser--ampersand .teaser__word{--span-font-size: 100%;flex-basis:100%;-webkit-hyphens:inherit;-ms-hyphens:inherit;hyphens:inherit}}html:where(:not(.js)) .teaser--ampersand .teaser__word{opacity:1}.teaser--ampersand #outline-ampersand{stroke-width:.125rem;fill:none;stroke:#fff;stroke-linecap:round;z-index:-1}.teaser--ampersand #overlay-ampersand,.teaser--ampersand #solid-ampersand{fill:#000f9f;transform-origin:center center}.teaser--ampersand .animated-arrow{display:block;transform:translate(0, 33%)}.teaser--ampersand[data-has-story] .teaser__content{clip-path:polygon(0% 0%, 100% 0%, 100% 100%, 0% 100%)}.teaser--ampersand:not([data-animation-state]) .teaser__word{opacity:0}.teaser--ampersand:not([data-animation-state]) .teaser__media-container .media{opacity:0}.hero-animation{--heading-font-family: Stencil, HelveticaNeue, Arial, sans-serif;--heading-font-weight: 300;--heading-margin: 0;background-color:var(--hero-animation-bg-color, #001c42);color:var(--hero-animation-color, #fff);display:grid;position:relative;overflow:hidden}@media(min-width: 768px){.hero-animation{min-height:50vh}}@media(min-width: 1080px){.hero-animation{min-height:61.8vh}}.hero-animation__container{grid-column:1;grid-row:1;position:relative;display:flex;align-items:center;width:100%;padding:1rem 0;z-index:1}.hero-animation__heading{--heading-font-size: clamp( 4.7772743326rem, calc(1.6679376662rem + 13.8192740733vw), 14.1052843321rem );--heading-line-height: 0.6970534998;align-items:center;display:flex;flex-direction:column;height:95%;justify-content:space-between;width:100%;text-shadow:0 4px 4px rgba(0,0,0,.25);transform:translateY(1rem);text-transform:lowercase}.hero-animation__heading span{display:block}@media(min-width: 768px){.hero-animation__heading{--heading-font-size: clamp( 2.617924rem, calc(0.5846559118rem + 9.0367470586vw), 8.7177282646rem );flex-direction:row;justify-content:center}}.hero-animation__heading-divider{font-size:clamp( 22.8223500493rem, calc(14.7728602028rem + 35.7755104293vw), 46.9708195891rem );opacity:0;transform:scale(0.75);transform-origin:left center;transition:transform 300ms ease-in-out 0ms,opacity 100ms ease-in 0ms}@media(min-width: 768px){.hero-animation__heading-divider{font-size:clamp( 14.1052843321rem, calc(3.1501059131rem + 48.6896818622vw), 46.9708195891rem );left:50%;position:absolute;top:50%;transform:scale(0.75) translate(-50%, -37.5%)}}.hero-animation__image-container{display:grid;flex-direction:column;grid-column:1;grid-row:1;grid-template-rows:1fr 1fr;transition:all 200ms ease-in-out;z-index:0}@media(min-width: 768px){.hero-animation__image-container{grid-template-columns:1fr 1fr;grid-template-rows:1fr}}.hero-animation__image{flex:1 1 100%;overflow:hidden}.hero-animation__image img{filter:saturate(1.5);-o-object-fit:cover;object-fit:cover;height:100%;transform:scale(1.03);transition:transform 200ms ease-in-out;width:100%}.hero-animation__image picture{height:100%}.hero-animation__word{-webkit-hyphens:auto;-ms-hyphens:auto;hyphens:auto;overflow-wrap:break-word;text-align:center;transition:transform 300ms ease-in-out 0ms;width:100%}@media(min-width: 768px){.hero-animation__word{flex:1 1 100%}}.hero-animation__word--left{transform:translate(-100vw, -0.125em)}@media(min-width: 768px){.hero-animation__word--left{padding-right:13%;text-align:right}}.hero-animation__word--right{transform:translate(100vw, -0.125em)}@media(min-width: 768px){.hero-animation__word--right{padding-left:13%;text-align:left}}[data-aos=hero-animation].aos-animate .hero-animation__word{transition-delay:600ms}[data-aos=hero-animation].aos-animate .hero-animation__word--left{transform:translate(0, -0.125em)}@media(min-width: 768px){[data-aos=hero-animation].aos-animate .hero-animation__word--left{transform:translate(-1rem, -0.125em)}}[data-aos=hero-animation].aos-animate .hero-animation__heading-divider{transition-delay:400ms;transform:scale(1) translateY(7.5%);opacity:1}@media(min-width: 768px){[data-aos=hero-animation].aos-animate .hero-animation__heading-divider{transform:scale(1) translate(-50%, -37.5%)}}[data-aos=hero-animation].aos-animate .hero-animation__word--right{transform:translate(0, -0.125em)}@media(min-width: 768px){[data-aos=hero-animation].aos-animate .hero-animation__word--right{transform:translate(1rem, -0.125em)}}[data-aos=hero-animation].aos-animate~.hero-animation__image-container{mix-blend-mode:lighten;opacity:.618}[data-aos=hero-animation].aos-animate~.hero-animation__image-container .hero-animation__image img{filter:blur(3px);transform:scale(1.1)}.menu{--link-text-decoration: none;--link-color:#bec8e0;--link-text-decoration-hover: underline;--list-item-margin: 0;color:var(--menu-color, #bec8e0);font-family:var(--menu-font-family, neue-haas-unica, HelveticaNeue, Arial, sans-serif);font-size:var(--menu-font-size, clamp( 0.8866564357rem, calc(0.8488752476rem + 0.1679163916vw), 1rem ));line-height:var(--menu-line-height, 1.2)}.menu__close-sub{cursor:pointer;color:currentColor;display:none;visibility:hidden}.menu__description{display:block}.menu__heading{--heading-font-size: clamp( 1.2720062893rem, calc(1.1566750524rem + 0.5125832751vw), 1.618rem );--heading-margin: 0}.menu__expand[open] .menu__list{opacity:1}.menu__expand-button{list-style:none}.menu__expand-button::-webkit-details-marker{display:none}.menu__expand-button .menu__title{cursor:pointer;transition:all 100ms ease-in-out}.menu__link{--link-text-decoration: none}.menu__link[rel=external]{padding:0}.menu__link[rel=external] .icon{right:-0.875em}.menu__link--hidden{display:none}.menu__list{list-style:none;margin:0;padding:0}.menu__list li::before{display:none}.menu__list--depth-1{opacity:0;transition:opacity 250ms ease-in-out 100ms}.menu__section-title{align-items:center;display:flex;gap:1rem;margin-bottom:0.6180469716rem}.menu__title{color:var(--menu-title-color, inherit);position:relative;text-align:left}.menu--breadcrumb{--link-color: #707070;--link-hover-size: 0.25rem;--menu-font-size: 0.75rem;color:#707070;margin-bottom:.3819820591rem}.menu--breadcrumb .menu__list{display:flex;flex-direction:row;flex-wrap:wrap}.menu--breadcrumb .menu__item::after{content:"/";display:inline-block;margin:0 .25em}.menu--breadcrumb .menu__item:last-child::after{content:""}#block-breadcrumbs{position:relative;z-index:1}.menu--secondary-menu{--icon-height: 1em;--icon-width: 1em;--menu-color: #000f9f;--link-color: #000f9f;--link-underline-color:#000f9f;--link-underline-offset: 0.375em;--link-underline-offset-hover: 0.25em;max-width:var(--site-secondary-nav-width, 75.9987860952rem);margin-left:auto;margin-right:auto;position:relative}.menu--secondary-menu .menu__expand[open] .menu__expand-button{--menu-title-color: #fff;--toggle-color: #fff}.menu--secondary-menu .menu__expand[open] .menu__expand-button::after{background-color:#000f9f}@media(min-width: 768px){.menu--secondary-menu .menu__expand[open] .menu__expand-button::after{border:#9CB6D3 solid;border-width:.125rem .125rem 0}}@media(min-width: 768px){.menu--secondary-menu .menu__expand[open] .menu__list-container{border:#9CB6D3 solid;border-width:0 .125rem .125rem}}.menu--secondary-menu .menu__expand-button{font-weight:800}@media(min-width: 768px){.menu--secondary-menu .menu__expand-button{margin-top:-0.6180469716rem;padding:0.6180469716rem 0 0}}.menu--secondary-menu .menu__expand-button .menu__title{margin-bottom:-0.3125em;padding-bottom:.3125em}.menu--secondary-menu .menu__expand-button::after{bottom:0;box-sizing:border-box;content:"";left:-0.6180469716rem;position:absolute;top:0;width:max(100%, 18.75rem);z-index:-1}.menu--secondary-menu .menu__heading{overflow:hidden;position:absolute;visibility:hidden;width:0px}@media(min-width: 768px){.menu--secondary-menu .menu__heading{overflow:visible;position:relative;visibility:visible;width:auto}}.menu--secondary-menu .menu__help-text{--heading-margin: 0}.menu--secondary-menu .menu__item{padding:var(--menu-item-padding, 0.5em 0 0);position:relative;z-index:0}.menu--secondary-menu .menu__item[data-expanded=true]{z-index:10}.menu--secondary-menu .menu__item--depth-0{flex-basis:100%}.menu--secondary-menu .menu__item--depth-0:nth-child(n+4) .menu__expand-button::after{width:max(100% + 1.618rem, 12.5rem)}.menu--secondary-menu .menu__item--depth-0:nth-child(n+4) .menu__list-container{min-width:max(100% + 1.618rem, 12.5rem)}@media(min-width: 768px){.menu--secondary-menu .menu__item--depth-0{flex:0 0 auto;padding-top:0.6180469716rem}}.menu--secondary-menu .menu__item--active.menu__item--depth-0 .menu__expand-button,.menu--secondary-menu .menu__item--active.menu__item--depth-0>[aria-current]{--link-text-decoration: underline;--link-underline-offset: 0.125em;--link-underline-size: 0.375rem}.menu--secondary-menu .menu__item [aria-current]{--link-text-decoration: underline;--link-underline-offset: 0.125em;--link-underline-size: 0.125rem}.menu--secondary-menu .menu__link{--link-underline-color:#fff}.menu--secondary-menu .menu__link--depth-0{--link-font-weight: 800}@media(min-width: 768px){.menu--secondary-menu .menu__link--depth-0{--link-underline-color:#000f9f;margin:0;padding-bottom:.25em}}.menu--secondary-menu .menu__link--depth-0 .menu__title{white-space:nowrap}.menu--secondary-menu .menu__link[rel=external]{padding-right:0}.menu--secondary-menu .menu__link[rel=external] .icon{display:inline;position:static}@media(min-width: 1080px){.menu--secondary-menu .menu__link[rel=external] .icon{transform:translateY(-0.1875rem)}}.menu--secondary-menu .menu__list{--toggle-width: 14px}.menu--secondary-menu .menu__list--depth-0{display:none;margin-top:0}@media(min-width: 768px){.menu--secondary-menu .menu__list--depth-0{-moz-column-gap:1.2720062893rem;column-gap:1.2720062893rem;display:inline-flex;flex-flow:row wrap;align-items:flex-end;justify-content:flex-start;margin-top:-0.6180469716rem;width:100%}}.menu--secondary-menu .menu__list--depth-1{--link-hover-size: 0.125rem}.menu--secondary-menu .menu__list--depth-1 .menu__list{margin-left:1.618rem}.menu--secondary-menu .menu__list-container{--link-color: #fff;--link-font-weight: 300;overflow:hidden}@media(min-width: 768px){.menu--secondary-menu .menu__list-container{box-sizing:border-box;padding:0 0.6180469716rem 1rem;position:absolute;left:-0.6180469716rem;background-color:#000f9f;min-width:max(100%, 18.75rem);z-index:1}}.menu--secondary-menu .menu__section-link{--link-color: #fff;--link-font-weight: 800;--link-underline-color: #fff;display:none;margin-bottom:0.6180469716rem;margin-top:0.6180469716rem}@media(min-width: 768px){.menu--secondary-menu .menu__section-link{margin-left:calc(1.618rem + 1rem)}}.menu--secondary-menu .menu__section-title .toggle{--toggle-size: 1.618em;white-space:nowrap}.menu--secondary-menu .menu__section-title .toggle::after,.menu--secondary-menu .menu__section-title .toggle::before{--toggle-top: calc(50% + var(--toggle-size, 1em) * 0.125)}.menu--secondary-menu .menu__section-title .toggle__help-text{display:inline-block}@media(min-width: 768px){.menu--secondary-menu .menu__section-title .toggle__help-text{display:none}}.menu--secondary-menu .menu__section-title .toggle__label{--toggle-label-size:clamp( 1.1278325626rem, calc(1.0255733792rem + 0.4544852597vw), 1.4346101129rem );display:block}.menu--secondary-menu .menu__shield{flex:0 0 1.618rem}[data-secondary-nav-state=open] .menu--secondary-menu .menu__section-link{display:inline-block}[stuck] .menu--secondary-menu .menu__section-link{margin-left:calc(1.618rem + 1rem)}[stuck] .menu--secondary-menu .menu__expand[open] .menu__list-container,[stuck] .menu--secondary-menu .menu__expand[open] .menu__expand-button::after{border:none}[stuck] .menu--secondary-menu .menu__section-title{margin-bottom:0}[stuck] .menu--secondary-menu .menu__section-title .toggle__help-text{display:inline-block}@media(min-width: 768px){[stuck] .menu--secondary-menu .menu__section-title .toggle__help-text{display:none}}.menu--secondary-menu .icon--menu--search{translate:0 .125em}.secondary-nav{background-color:var(--menu-background-color, transparent);position:sticky;top:-12.5rem;transition:background-color 0ms ease-in-out,top 0ms ease-in-out;z-index:100}@media(min-width: 768px){.secondary-nav{margin-bottom:2.617924rem;z-index:10}}.secondary-nav .menu{padding-bottom:1rem}@media(min-width: 768px){.secondary-nav .menu{padding:0}}.secondary-nav .menu__shield{display:none}@media(min-width: 768px){.secondary-nav .menu__section-title .toggle{display:none}}.secondary-nav[stuck],.secondary-nav[data-secondary-nav-state=open]{margin-left:calc(var(--content-safe-area-left)*-1);margin-right:calc(var(--content-safe-area-right)*-1);padding:0 var(--content-safe-area-right) 0 var(--content-safe-area-left)}.secondary-nav[stuck] .menu,.secondary-nav[data-secondary-nav-state=open] .menu{margin-bottom:0;padding:.3819820591rem 0}.secondary-nav[stuck] .menu__section-title .toggle,.secondary-nav[data-secondary-nav-state=open] .menu__section-title .toggle{display:block;flex:0 0 auto}.secondary-nav[stuck]{--menu-background-color: #fff;border:0 solid #121212;border-top-width:.6875rem;border-bottom-width:.0625rem;top:calc(var(--header-menu-top, 0));transition-duration:400ms}.secondary-nav[stuck] .menu__list--depth-0{display:none}.secondary-nav[stuck] .menu__shield{display:block}.secondary-nav[stuck][data-secondary-nav-state=open]{position:fixed;width:100%}.secondary-nav[stuck][data-secondary-nav-state=open] .menu{height:calc(100vh - var(--header-menu-top, 0))}.secondary-nav[stuck][data-secondary-nav-state=open] .menu__list--depth-0{margin-left:calc(1.618rem + 1rem)}.secondary-nav[data-secondary-nav-state=open]{--menu-background-color: #000f9f;border-color:rgba(0,0,0,0)}.secondary-nav[data-secondary-nav-state=open]:not([stuck]) .menu{margin-top:-.3819820591rem}.secondary-nav[data-secondary-nav-state=open] .menu{height:calc(60vh - var(--header-menu-top, 0));overflow:hidden;overflow-y:scroll}.secondary-nav[data-secondary-nav-state=open] .menu.menu--small-menu .menu__item--depth-0{flex:0 0 auto}@media(min-width: 768px){.secondary-nav[data-secondary-nav-state=open] .menu.menu--small-menu .menu__item--depth-0{width:calc(50% - 1rem)}}@media(min-width: 1080px){.secondary-nav[data-secondary-nav-state=open] .menu.menu--small-menu .menu__item--depth-0{width:calc(25% - 1rem)}}.secondary-nav[data-secondary-nav-state=open] .menu.menu--small-menu .menu__list--depth-0{align-content:flex-start;-moz-column-count:1;column-count:1;display:flex;flex-direction:column;justify-content:flex-start}@media(min-width: 768px){.secondary-nav[data-secondary-nav-state=open] .menu.menu--small-menu .menu__list--depth-0{height:90%;margin:0 0 0 calc(1.618rem + 1rem);min-height:56.25rem}}@media screen and (max-height: 37.5rem)and (min-width: 1080px){.secondary-nav[data-secondary-nav-state=open] .menu.menu--small-menu .menu__list--depth-0{min-height:37.5rem}}@media(min-width: 1080px){.secondary-nav[data-secondary-nav-state=open] .menu.menu--small-menu .menu__list--depth-0{height:60%;max-height:25rem;min-height:auto}}@media(min-width: 1368px){.secondary-nav[data-secondary-nav-state=open] .menu.menu--small-menu .menu__list--depth-0{max-height:12.5rem}}@media screen and (max-height: 25rem)and (min-width: 1080px){.secondary-nav[data-secondary-nav-state=open] .menu.menu--small-menu .menu__list--depth-0{max-height:auto;min-height:25rem}}.secondary-nav[data-secondary-nav-state=open] .menu__expand-button{margin:0;padding:0;pointer-events:none}.secondary-nav[data-secondary-nav-state=open] .menu__expand-button::after,.secondary-nav[data-secondary-nav-state=open] .menu__expand-button .toggle{display:none}.secondary-nav[data-secondary-nav-state=open] .menu__expand-button .menu__title{--menu-title-color:#bec8e0}.secondary-nav[data-secondary-nav-state=open] .menu__heading{--link-color:#fff;--link-underline-color:#fff}.secondary-nav[data-secondary-nav-state=open] .menu__item--depth-0{--link-underline-color:#bec8e0;-moz-column-break-inside:avoid;break-inside:avoid;margin-bottom:1.618rem;page-break-inside:avoid}.secondary-nav[data-secondary-nav-state=open] .menu__link--depth-0{--link-color:#bec8e0;--link-underline-color:#bec8e0;margin:0}.secondary-nav[data-secondary-nav-state=open] .menu__list--depth-0{display:block;-moz-column-gap:1rem;column-gap:1rem;margin-bottom:2.617924rem}@media(min-width: 768px){.secondary-nav[data-secondary-nav-state=open] .menu__list--depth-0{-moz-column-count:2;column-count:2}}@media(min-width: 1080px){.secondary-nav[data-secondary-nav-state=open] .menu__list--depth-0{-moz-column-count:4;column-count:4}}.secondary-nav[data-secondary-nav-state=open] .menu__list-container{background-color:rgba(0,0,0,0);left:auto;padding:0;position:relative;min-width:auto}.node__header{--page-header-column-count: 12;--page-header-gap: 1.618rem;--paragraph-line-height: 1;background-color:var(--page-header-background, transparent);margin-bottom:1.618rem}@media(min-width: 1080px){.node__header--portrait .node__header-media{grid-column:1/span 3}}@media(min-width: 1080px){.node__header--portrait .node__header-content{grid-column-end:span 9}}@media(min-width: 1080px){.node__header--square .node__header-media{grid-column:1/span 4}}@media(min-width: 1080px){.node__header--square .node__header-content{grid-column-end:span 8}}.node__header-container{align-items:center;display:grid;gap:var(--page-header-gap, 1.618rem);grid-template-areas:"col-1";max-width:var(--page-width, 75.9987860952rem);margin-left:auto;margin-right:auto}@media(min-width: 1080px){.node__header-container{grid-template-columns:repeat(var(--page-header-column-count), minmax(0, 1fr));grid-auto-rows:minmax(1rem, auto)}.node__header-container>*{grid-column:1/var(--page-header-column-count)}}.node__header-content{padding:1rem var(--content-safe-area-right) 0 var(--content-safe-area-left)}@media(min-width: 1080px){.node__header-content{grid-column:auto/span 6;padding:0}}@media(min-width: 1080px){.node__header-content>p{margin-right:16.67%}}.node__header-media{order:10}@media(min-width: 1080px){.node__header-media{grid-column:1/span 6;order:initial}}.node__header-media img{width:100%}.node__header-job-title,.node__header-program{font-style:italic}.node__header p:last-child{--paragraph-margin:0}.node__header--profile{--page-header-background: #bec8e0;margin-left:calc(-1*var(--content-safe-area-left));margin-right:calc(-1*var(--content-safe-area-right))}.node__header--profile .node__title{margin:0 0 0.2360828548em}.node__header--faculty{--page-header-background: #bec8e0;margin-left:calc(-1*var(--content-safe-area-left));margin-right:calc(-1*var(--content-safe-area-right))}.node__header--faculty .node__title{margin:0 0 0.2360828548em}.node__header--event{padding-top:1rem}.node__header--event .node__header-container{grid-template-rows:repeat(3, auto)}.node__header--event .node__header-content{display:contents}.node__header--event .node__header-media{grid-row:auto}@media(min-width: 1080px){.node__header--event .node__header-media,.node__header--event .node__event-details{grid-column:3/span 8}}.node__header--event .node__event-details{--heading-font-weight: 300}.node__header--event .node__event-details .node__location-name{font-weight:800}@media(min-width: 1080px){.node__header--event .node__register{grid-column:8/span 3;grid-row:2}}@media(min-width: 1080px){.node__header--event .node__register+.node__event-details{grid-column-end:8;grid-row:2}}.node__header--event .node__title{--heading-margin: 0}@media(min-width: 1080px){.node__header--event .node__title,.node__header--event .node__title-group{grid-column:1/var(--page-header-column-count);grid-row:1}}.node__header--event span[itemprop=addressLocality]::before{display:block;content:""}.node__header--podcast{--page-header-background: #b8b1ba;--paragraph-line-height: 1.5;margin-left:calc(-1*var(--content-safe-area-left));margin-right:calc(-1*var(--content-safe-area-right))}.node__header--podcast.node__header--no-image .node__header-container{padding-top:1rem;padding-bottom:1rem}@media(min-width: 768px){.node__header--podcast.node__header--no-image .node__header-content{grid-column:3/span 6}}.node__header--podcast .node__header-bug{font-family:neue-haas-unica, HelveticaNeue, Arial, sans-serif;margin-bottom:1rem}.node__header--podcast .node__header-bug *{display:inline}.node__header--podcast .node__header-after{background:#fff;padding-top:4.235801032rem;padding-bottom:1.618rem}.node__header--podcast .node__title{margin:0 0 0.2360828548em}.node__header--podcast .node__metadata{display:flex;flex-wrap:wrap;font-family:"neue-haas-unica","HelveticaNeue","Arial",sans-serif;gap:1rem;margin-bottom:1.618rem .node__header--podcast .node__metadata -series;margin-bottom-width:100%}.node__header--podcast .node__audio .plyr{--plyr-control-icon-size: 1.618rem;--plyr-control-play-icon-size: 4.235801032rem}.node__header--podcast .node__podcast-subscription{--icon-width: 3.3300157929rem;--icon-height: 3.3300157929rem;max-width:36.9265623798rem;width:100%;padding:0 1.25rem;margin-left:auto;margin-right:auto;display:flex;gap:1rem}@media(min-width: 480px){.node__header--podcast .node__podcast-subscription{padding:0 1.25rem}}@media(min-width: 36.9265623798rem){.node__header--podcast .node__podcast-subscription{padding-left:calc( 1.25rem + calc(-50vw + calc(36.9265623798rem / 2)) );padding-right:calc( 1.25rem + calc(-50vw + calc(36.9265623798rem / 2)) )}}.node__header--podcast .node__podcast-subscription-desc{flex:1 1 100%}.node__header--podcast .node__podcast-subscription-icons{align-items:baseline;display:flex;gap:1rem;flex:0 1 auto}.node__header--podcast .node__podcast-subscription-icons svg{display:block}@media(min-width: 768px){.node__header--podcast .node__header-container{grid-template-columns:repeat(12, minmax(0, 1fr));grid-auto-rows:minmax(1rem, auto);padding-top:1.618rem;padding-bottom:1.618rem}.node__header--podcast .node__header-media{grid-column:9/span 3;grid-row:1}.node__header--podcast .node__header-content{grid-column:2/span 7;grid-row:1}.node__header--podcast.node__header--video .node__header-media{align-self:end;grid-column:6/span 6;grid-row:1}.node__header--podcast.node__header--video .node__header-content{grid-column:2/span 4;grid-row:1}}.node__header--podcast-series{--icon-height:1rem;--icon-width: 1rem;--page-header-background: #b8b1ba;--paragraph-line-height: 1.5;margin-left:calc(-1*var(--content-safe-area-left));margin-right:calc(-1*var(--content-safe-area-right))}.node__header--podcast-series.node__header--no-image .node__header-container{padding-top:1rem;padding-bottom:1rem}.node__header--podcast-series .node__header-bug{font-family:neue-haas-unica, HelveticaNeue, Arial, sans-serif}.node__header--podcast-series .node__header-content{font-family:"neue-haas-unica","HelveticaNeue","Arial",sans-serif}.node__header--podcast-series .node__header-after{background:#fff;padding-top:4.235801032rem;padding-bottom:1.618rem;padding-left:calc(var(--content-safe-area-left));padding-right:calc(var(--content-safe-area-right))}.node__header--podcast-series .node__header-after>*+*{margin-top:4.235801032rem}.node__header--podcast-series .node__header-after .details-with-image{margin-bottom:1rem}.node__header--podcast-series .node__podcast-series-cta{margin-top:1rem;margin-bottom:1rem}.node__header--podcast-series .node__podcast-series-cta .link{--svg-width: 1rem;--svg-height: 1rem}.node__header--podcast-series .node__podcast-series-cta .link svg{vertical-align:middle}.node__header--podcast-series .node__podcast-subscription{--icon-width: 3.3300157929rem;--icon-height: 3.3300157929rem;display:flex;gap:1rem}.node__header--podcast-series .node__podcast-subscription-desc{flex:1 1 100%}.node__header--podcast-series .node__podcast-subscription-icons{align-items:baseline;display:flex;gap:1rem;flex:0 1 auto}.node__header--podcast-series .node__podcast-subscription-icons svg{display:block}@media(min-width: 768px){.node__header--podcast-series .node__header-container{grid-template-columns:repeat(12, minmax(0, 1fr));grid-auto-rows:minmax(1rem, auto);padding-top:1.618rem;padding-bottom:1.618rem}.node__header--podcast-series .node__header-media{grid-column:9/span 3;grid-row:1}.node__header--podcast-series .node__header-content{grid-column:2/span 7;grid-row:1}.node__header--podcast-series .node__podcast-experts,.node__header--podcast-series .node__podcast-subscription{max-width:var(--layout-width, min(66.67%, 75.9987860952rem * 0.667));margin-left:auto;margin-right:auto}}.node__header--story{padding-top:1rem}.node__header--story .node__header-content{display:contents}.node__header--story .node__header-media{order:10}@media(min-width: 1080px){.node__header--story .node__header-media,.node__header--story .node__metadata{grid-column:3/span 8}}.node__header--story .node__metadata{--heading-font-weight: 300}@media(min-width: 1080px){.node__header--story .node__summary{grid-column:3/span 8}}.node__header--story .node__title{--heading-margin: 0}@media(min-width: 1080px){.node__header--story .node__title,.node__header--story .node__title-group{grid-column:1/var(--page-header-column-count)}}.site-header{--site-header-column-count: 12;background-color:var(--site-header-bg-color, transparent);color:var(--site-header-color, var(--color, inherit));font-family:"neue-haas-unica","HelveticaNeue","Arial",sans-serif;padding-left:var(--content-safe-area-left);padding-right:var(--content-safe-area-right);position:relative}.site-header>*{z-index:1;position:relative}.site-header__background{bottom:0;left:0;mix-blend-mode:soft-light;overflow:hidden;position:absolute;right:0;top:0;z-index:0}.site-header__background figure,.site-header__background picture{height:100%}.site-header__background img{height:100%;-o-object-fit:cover;object-fit:cover;opacity:.618;width:100%}.site-header__banner{align-items:center;border-bottom:.3819820591rem solid var(--site-header-color, var(--color, currentColor));display:grid;grid-template-columns:repeat(var(--site-header-column-count), minmax(0, 1fr));height:7.5rem;max-width:var(--site-header-width, 75.9987860952rem);margin-bottom:1rem;margin-left:auto;margin-right:auto;position:relative;z-index:1}@media(min-width: 1080px){.site-header__banner{gap:var(--site-header-gap, 1.618rem);grid-template-columns:repeat(var(--site-header-column-count), minmax(0, 1fr))}}.site-header__branding{grid-column-end:span 6}.site-header__cta{display:grid;gap:var(--site-header-gap, 1.618rem);grid-template-columns:repeat(6, minmax(0, 1fr));max-width:var(--site-header-width, 75.9987860952rem);margin-left:auto;margin-right:auto}.site-header__cta-text,.site-header__cta-link{grid-column:1/span 6}@media(min-width: 1080px){.site-header__cta-text,.site-header__cta-link{grid-column:1/span 5}}.site-header__cta-link a{--arrow-color: #000f9f;--link-color: #000f9f;--link-background-color: #fff;--link-border-color: #fff;--link-color-hover: #000f9f;--link-background-color-hover: #bec8e0;--link-border-color-hover: transparent}.site-header__cta-text{--paragraph-line-height: 1;--paragraph-margin: 0}.site-header__home-link{grid-column:8/span 5;justify-self:end}@media(min-width: 768px){.site-header__home-link{grid-column:11/span 2}}.site-header__home-link .link{--icon-height: var(--link-font-size);--icon-width: var(--link-font-size);--link-font-weight: 300;--link-font-size: clamp( 0.6180469716rem, calc(0.5620094171rem + 0.2490557975vw), 0.7861596349rem );display:flex;align-items:center;gap:.25rem}.site-header__home-link .link svg{fill:var(--link-color);transform:scaleX(-1)}.site-header__menu{--custom-scrollbar-track: #bec8e0;background:#001c42;position:relative;height:calc(100vh - var(--header-menu-top) - 7.5rem + (0.3819820591 * 1rem));overflow:hidden;overflow-y:scroll;padding-left:var(--content-safe-area-left);padding-right:var(--content-safe-area-right)}.site-header__menu-container{left:0;opacity:0;overflow:hidden;position:absolute;top:calc(7.5rem - (0.3819820591 * 1rem));transform:translateX(-200%);transition:opacity 250ms ease-in-out;visibility:hidden;width:100%;z-index:1000}[data-main-nav-state=open] .site-header__menu-container{opacity:1;transform:translateX(0);visibility:visible}.site-header__menu-toggle{--toggle-size: clamp( 1.618rem, calc(1.284692rem + 1.4813688889vw), 2.617924rem );--toggle-weight: 0.25em;grid-column:11/span 2;justify-self:end}@media(min-width: 768px){.site-header__menu-toggle{grid-column:12/span 1}}.site-header__search{--link-color: #121212;--icon-height: 2em;--icon-width: 2em;grid-column:9/span 2;justify-self:end}@media(min-width: 768px){.site-header__search{grid-column:11/span 1}}@media(min-width: 1080px){.site-header__search{transform:translateX(var(--site-header-gap, 1.618rem))}}.site-header__search a,.site-header__search svg{display:block}.site-header__submenu-container{position:relative;z-index:10}.site-header__title{--heading-margin: 0 0 1em;padding-bottom:.3819820591em;border-bottom:0.1459102934em solid currentColor;--heading-margin: 0 0 0.3819820591em;max-width:var(--site-header-width, 75.9987860952rem);margin-left:auto;margin-right:auto}.site-header .yalesom-logo{--logo-height: 5.625rem;--logo-width: auto}@media(min-width: 768px){.site-header .yalesom-logo{--logo-height: auto;--logo-width: 100%}}.site-header #block-mainnavigation{position:static}.site-header #block-mainnavigation .contextual{top:auto}.page--is-front .site-header__banner{border-bottom-width:0;margin-bottom:0}.site-header--center{--site-header-bg-color: #000f9f;--site-header-color: #fff;--yalesom-logo-text-color: #fff;--yalesom-logo-shield-outline-color: #9CB6D3;padding-bottom:1rem}.site-header--center-parent .menu__heading{display:none}.site-header--center:not(.site-header--center-parent) .secondary-nav{margin-bottom:0}.site-header--center .menu__heading a{--link-color: var(--color, $color-white)}.site-header--center .secondary-nav[stuck]{position:fixed;width:100%}.site-header--center .secondary-nav[stuck] .menu__section-title{--button-color: #000f9f;display:flex}.site-header--center .secondary-nav[stuck][data-secondary-nav-state=open] .menu__section-title{--button-color: #fff}.site-header--center .site-header__banner{border-bottom:none}@media(min-width: 768px){.site-header--center .site-header__banner{height:auto;padding-top:1rem}}@media(min-width: 768px){.site-header--center .site-header__branding{grid-column-end:span 4}}.site-header--center .site-header__submenu-container .menu__expand,.site-header--center .site-header__submenu-container .menu__link{--link-underline-color: #fff;--menu-title-color: #bec8e0}.site-header--center .site-header__cta{margin-bottom:2.617924rem}.site-header--center .site-header__cta-text{--paragraph-color: #fff}.site-header--center+.site-main{margin-top:1.618rem}.site-header--center+.site-main .layout--bg.layout--edge-column:first-child,.site-header--center+.site-main .layout--bg.layout--edge-full:first-child{margin-top:-1.618rem}.layout{--layout-column-count: 12;container-name:layout;container-type:inline-size;position:relative;z-index:0}.layout--l .layout__content{--layout-column-outside: 0}.layout--xs{--layout-width: 29.0301727992rem;max-width:29.0301727992rem;width:100%;padding:0 1.25rem;margin-left:auto;margin-right:auto}@media(min-width: 480px){.layout--xs{padding:0 1.25rem}}@media(min-width: 29.0301727992rem){.layout--xs{padding-left:calc( 1.25rem + calc(-50vw + calc(29.0301727992rem / 2)) );padding-right:calc( 1.25rem + calc(-50vw + calc(29.0301727992rem / 2)) )}}.layout--2xs{--layout-width: 22.8223500493rem;max-width:22.8223500493rem;width:100%;padding:0 1.25rem;margin-left:auto;margin-right:auto}@media(min-width: 480px){.layout--2xs{padding:0 1.25rem}}@media(min-width: 22.8223500493rem){.layout--2xs{padding-left:calc( 1.25rem + calc(-50vw + calc(22.8223500493rem / 2)) );padding-right:calc( 1.25rem + calc(-50vw + calc(22.8223500493rem / 2)) )}}.layout--edge-full{--layout-width: 100%;max-width:none;overflow:hidden}.site-main .layout--edge-full,#root .layout--edge-full{margin-left:calc(-1*var(--content-safe-area-left));margin-right:calc(-1*var(--content-safe-area-right))}@container (width >= 768px){.layout--inset .layout__region>*:where(.media, .image-grid, figure){margin-left:calc((100% - var(--layout-gap)*(var(--layout-column-count) - var(--layout-column-outside)*2 - 1))/(var(--layout-column-count) - var(--layout-column-outside)*2) + var(--layout-gap));margin-right:calc((100% - var(--layout-gap)*(var(--layout-column-count) - var(--layout-column-outside)*2 - 1))/(var(--layout-column-count) - var(--layout-column-outside)*2) + var(--layout-gap))}}@container (width >= 512px){.layout--gutter-l.layout--two-column>.layout__content>.layout__regions>.layout__region{--layout-column-space: 1}}@container (width >= 512px){.layout--gutter-m.layout--two-column>.layout__content>.layout__regions>.layout__region--one{--layout-column-space: 1}}@container (width >= 512px){.layout--gutter-l.layout--three-column{--sidebar-gutter-offset: 4.235801032rem}}.layout--gutter-none .layout__content{--layout-gap: 0}.layout--interior-margin-none{--layout-background-margin: 0}.layout--interior-margin-none.layout--bg,.layout--interior-margin-none>.layout__content>.layout__regions>.layout__region>.layout--bg{padding:0}.layout--interior-margin-none.layout--bg>.layout__content>.layout__regions{padding-left:calc(var(--content-safe-area-left)*-1);padding-right:calc(var(--content-safe-area-right)*-1)}@container (width >= 75.9987860952rem){.layout--interior-margin-none.layout--bg>.layout__content>.layout__regions{padding-left:-1.618rem;padding-right:-1.618rem}}.layout--interior-margin-none.layout--bg>.layout__content>.layout__regions::after{margin-left:0;margin-right:0}.layout--interior-margin-m{--layout-background-margin: -2.617924rem}.layout--interior-margin-m.layout--bg,.layout--interior-margin-m>.layout__content>.layout__regions>.layout__region>.layout--bg{padding-bottom:2.617924rem;padding-top:2.617924rem}.layout--interior-margin-l{--layout-background-margin: -6.8535260698rem}.layout--interior-margin-l.layout--bg,.layout--interior-margin-l>.layout__content>.layout__regions>.layout__region>.layout--bg{padding-bottom:6.8535260698rem;padding-top:6.8535260698rem}.layout--margin-l{--layout-margin-bottom: 6.8535260698rem}.layout--margin-m{--layout-margin-bottom: 4.235801032rem}.layout--margin-s{--layout-margin-bottom: 1rem}.layout--margin-zero{--layout-margin-bottom: 0}.layout--hidden{display:none}.form-wrapper .layout--hidden{display:block}.layout__background{bottom:0;position:absolute;top:0;left:0;right:0;z-index:0}.layout__content{--layout-column-outside: 0;--layout-gap: 1.618rem;margin-bottom:var(--layout-margin-bottom, 4.235801032rem);margin-left:auto;margin-right:auto;max-width:var(--layout-width, 75.9987860952rem);padding:var(--layout-padding, 0)}@container (width >= 768px){.layout__content{--layout-column-outside: 2}}.layout__regions{display:grid;gap:var(--layout-gap, 1.618rem);grid-template-columns:repeat(1, minmax(0, 1fr));position:relative;max-width:var(--layout-width, 75.9987860952rem);margin-left:auto;margin-right:auto}@container (width >= 512px){.layout__regions{grid-template-columns:repeat(var(--layout-column-count), var(--layout-column-size, minmax(0, 1fr)));grid-auto-rows:minmax(1rem, auto)}.layout__regions>*{grid-column:1/-1}}.layout__regions::after{margin-bottom:var(--layout-background-margin, -1.618rem);margin-left:calc(-1*var(--content-safe-area-left));margin-right:calc(-1*var(--content-safe-area-right));margin-top:var(--layout-background-margin, -1.618rem)}@container (width >= 75.9987860952rem){.layout__regions::after{margin-left:-1.618rem;margin-right:-1.618rem}}.layout .layout .layout__content{--layout-column-outside: 0;--layout-margin-bottom: 0}.layout__stuck{position:sticky;top:calc(var(--header-menu-top, 0px) + 66px + 1rem)}.som-modal .layout .layout__content{--layout-column-outside: 0}.layout .paragraph--type--library-paragraph .layout .layout__content{margin-bottom:0;padding:0}.layout--profile-byline .views-element-container .layout__content{margin-bottom:1em}.site-main{overflow-x:hidden;padding-left:var(--content-safe-area-left);padding-right:var(--content-safe-area-right);position:relative;z-index:2}@media(min-width: 768px){.site-main{overflow-x:unset}}.main{margin-bottom:4em}.main>*{margin-bottom:1rem}@media(min-width: 1080px){.main>*{margin-bottom:0}}.main>*:last-child{margin-bottom:0}.main-sidebar{grid-area:sidebar}.main-content{grid-area:content;margin-bottom:1rem;width:100%}@media(min-width: 1080px){.main-content{margin-bottom:0}} </style> <script src="/sites/default/files/google_tag/main_som_gtm/google_tag.script.js?sn9grz" defer defer></script> <title>Program on Financial Stability | Yale School of Management</title> <link rel="preconnect" href="https://use.typekit.net" crossorigin /> <link rel="preload" href="/themes/custom/som/fonts/yalenew/YaleNew-Roman.woff2" as="font" crossorigin="anonymous"> <link rel='preload' media="all" href="/sites/default/files/css/css_-PCqMFBnxT6kFfUR8ey0c2_faUyrq2ISwuIhxjOw6OU.css" as='style' onload="this.rel='stylesheet'" /><noscript><link rel="stylesheet" media="all" href="/sites/default/files/css/css_-PCqMFBnxT6kFfUR8ey0c2_faUyrq2ISwuIhxjOw6OU.css" /></noscript> <link rel='preload' media="all" href="/sites/default/files/css/css_clN9WlEddSD3LFv7bYa_AyjyAf2Mi5iL10U9en10IH8.css" as='style' onload="this.rel='stylesheet'" /><noscript><link rel="stylesheet" media="all" href="/sites/default/files/css/css_clN9WlEddSD3LFv7bYa_AyjyAf2Mi5iL10U9en10IH8.css" /></noscript> <link rel='preload' media="all" href="//use.typekit.net/cro6dpa.css" as='style' onload="this.rel='stylesheet'" /><noscript><link rel="stylesheet" media="all" href="//use.typekit.net/cro6dpa.css" /></noscript> </head> <body class="page page--taxonomy-term page--taxonomy-term-center page--menu-join-is-parent page--menu-join-is-child"> <a href="#main-content" class="visually-hidden focusable"> Skip to main content </a> <noscript><iframe src="https://www.googletagmanager.com/ns.html?id=GTM-P6NR3T9" height="0" width="0" style="display:none;visibility:hidden"></iframe></noscript> <header class="site-header site-header--center site-header--center-parent" data-main-nav-state="closed"> <div class="site-header__background"> <div class="media media--image media--banner" role="group"> <picture> <source srcset="/sites/default/files/styles/banner_1344_/public/2022-07/thepanicof1907.png.webp?itok=03svnhN3 1x, /sites/default/files/styles/banner_2688_/public/2022-07/thepanicof1907.png.webp?itok=d5NtXjdg 2x" media="all and (min-width: 1440px)" type="image/webp" width="1344" height="513"/> <source srcset="/sites/default/files/styles/card_672_/public/2022-07/thepanicof1907.png.webp?itok=mhihAd_Q 1x, /sites/default/files/styles/card_1344_/public/2022-07/thepanicof1907.png.webp?itok=yEbZMxFD 2x" media="all and (min-width: 768px)" type="image/webp" width="672" height="415"/> <source srcset="/sites/default/files/styles/portrait_420_/public/2022-07/thepanicof1907.png.webp?itok=ANEKHt1Q 1x, /sites/default/files/styles/portrait_840_/public/2022-07/thepanicof1907.png.webp?itok=hjOSLRtj 2x" type="image/webp" width="260" height="420"/> <img src="/sites/default/files/styles/card_140_/public/2022-07/thepanicof1907.png.webp?itok=kSRtGfdZ" width="140" height="87" alt="The Panic of 1907" loading="lazy" /> </picture> </div> </div> <div class="site-header__banner"> <div class="site-header__branding"> <a class="logo-link" aria-label="Yale School of Management home page" href="/"> <picture> <source srcset="/themes/custom/som/images/logos/yalesom_logo_horizontal_dark-min.svg" width="400" height="59" alt="Yale School of Management logo" media="(min-width: 768px)" /> <img src="/themes/custom/som/images/logos/yalesom_logo_stacked_dark-min.svg" class="yalesom-logo" width="205" height="101" alt="Yale School of Management logo"/> </picture> </a> </div> <div class="site-header__home-link"> <a class="link" href="/"> <svg class="icon" > <use xlink:href="/themes/custom/som/dist/icons.svg#arrow-right-no-fill"></use> </svg> Yale SOM Home </a> </div> </div> <div class="site-header__page-title"> <h1 class="site-header__title site-header__title--xl "> Program on Financial Stability </h1> </div> <div class="site-header__submenu-container"> <div id="secondary-nav-sticky-trigger" role="presentation"></div> <nav id="secondary-nav" class="secondary-nav" data-secondary-nav-state="closed" aria-labelledby="secondary-nav-title"> <div id="menu-secondary-menu" class="menu menu--secondary-menu"> <div class="menu__section-title"> <div class="menu__shield"> <img src="/themes/custom/som/images/logos/yalesom_logo_shield-min.svg" class="yalesom-logo yalesom-logo--shield" width="29" height="36" alt="Yale School of Management logo" /> </div> <h3 class="menu__heading" id="secondary-nav-title"> <a href="/centers/program-on-financial-stability">Program on Financial Stability</a> <span class="menu__help-text visually-hidden">Navigation Menu</span> </h3> <button id="block-somsubmenu--2" class="toggle toggle--thick toggle--down-caret toggle--count-0" aria-expanded="false" aria-controls="menu-secondary-menu" > <span class="toggle__label">YPFS <span class="toggle__help-text">Menu</span></span> </button> </div> <a class="menu__section-link" href="/centers/program-on-financial-stability"> YPFS Home </a> <ul class="menu__list menu__list--depth-0"> <li class="menu__item menu__item--depth-0" > <details class="menu__expand" id="menu-detail-1710957217"> <summary class="menu__expand-button" aria-controls="menu-detail-1710957217" aria-expanded="false" role="button"> <span class="menu__title">About</span> <span class="toggle toggle--thin toggle--down-caret toggle--count-0" > </span> </summary> <div class="menu__list-container"> <ul class="menu__list menu__list--depth-1"> <li class="menu__item menu__item--depth-1" > <a class="menu__link menu__link--depth-1" title="About" href="/centers/program-on-financial-stability/about"> <span class="menu__title">About</span> </a> <span class="menu__description">About</span> </li> <li class="menu__item menu__item--depth-1" > <a class="menu__link menu__link--depth-1" title="People" href="/centers/program-on-financial-stability/people"> <span class="menu__title">People</span> </a> <span class="menu__description">People</span> </li> <li class="menu__item menu__item--depth-1" > <a class="menu__link menu__link--depth-1" title="Advisory Board" href="/centers/program-on-financial-stability/about/advisory-board"> <span class="menu__title">Advisory Board</span> </a> <span class="menu__description">Advisory Board</span> </li> <li class="menu__item menu__item--depth-1" > <a class="menu__link menu__link--depth-1" title="Sources of Funding" href="/centers/program-financial-stability/about/sources-funding"> <span class="menu__title">Sources of Funding</span> </a> </li> <li class="menu__item menu__item--depth-1" > <a class="menu__link menu__link--depth-1" title="Job Opportunities" href="/research-associate-yale-program-on-financial-stability-new-bagehot-project"> <span class="menu__title">Job Opportunities</span> </a> </li> <li class="menu__item menu__item--depth-1" > <a class="menu__link menu__link--depth-1" title="Other Projects" href="/centers/program-on-financial-stability/projects-initiatives"> <span class="menu__title">Other Projects</span> </a> <ul class="menu__list menu__list--depth-2"> <li class="menu__item menu__item--depth-2" > <a class="menu__link menu__link--depth-2" title="COVID-19 Crisis" href="/centers/program-on-financial-stability/covid-19-crisis"> <span class="menu__title">COVID-19 Crisis</span> </a> </li> <li class="menu__item menu__item--depth-2" > <a class="menu__link menu__link--depth-2" title="Global Financial Crisis" href="/centers/program-on-financial-stability/the-global-financial-crisis"> <span class="menu__title">Global Financial Crisis</span> </a> <span class="menu__description">Global Financial Crisis, Charts and Data</span> </li> </ul> </li> <li class="menu__item menu__item--depth-1" > <a class="menu__link menu__link--depth-1" title=" Conflict of Interest Policy" href="/centers/program-on-financial-stability/conflict-of-interest-policy"> <span class="menu__title"> Conflict of Interest Policy</span> </a> <span class="menu__description"> Conflict of Interest Policy</span> </li> <li class="menu__item menu__item--depth-1" > <a class="menu__link menu__link--depth-1" title="Contact" href="/centers/program-on-financial-stability/about/contact"> <span class="menu__title">Contact</span> </a> <span class="menu__description">Contact</span> </li> </ul> </div> </details> </li> <li class="menu__item menu__item--depth-0" > <a class="menu__link menu__link--depth-0" title="New Bagehot Project" href="/centers/program-on-financial-stability/projects-initiatives/new-bagehot-project"> <span class="menu__title">New Bagehot Project</span> </a> </li> <li class="menu__item menu__item--depth-0 menu__item--external" > <a class="menu__link menu__link--depth-0 menu__link--external" title="Master’s Degree In Systemic Risk" rel="external" target="_blank" href="https://som.yale.edu/programs/mms-systemic-risk"> <span class="menu__title">Master’s Degree In Systemic Risk</span> <svg class="icon" role="presentation" > <use xlink:href="/themes/custom/som/dist/icons.svg#arrow-top-right"></use> </svg> </a> </li> <li class="menu__item menu__item--depth-0" > <a class="menu__link menu__link--depth-0" title="Journal of Financial Crises" href="/centers/program-on-financial-stability/journal-of-financial-crises-ypfs"> <span class="menu__title">Journal of Financial Crises</span> </a> </li> <li class="menu__item menu__item--depth-0 menu__item--external" > <a class="menu__link menu__link--depth-0 menu__link--external" title="YPFS Resource Library" rel="external" target="_blank" href="https://elischolar.library.yale.edu/ypfs-financial-crisis-resource-library/"> <span class="menu__title">YPFS Resource Library</span> <svg class="icon" role="presentation" > <use xlink:href="/themes/custom/som/dist/icons.svg#arrow-top-right"></use> </svg> </a> </li> <li class="menu__item menu__item--depth-0" > <details class="menu__expand" id="menu-detail-90924550"> <summary class="menu__expand-button" aria-controls="menu-detail-90924550" aria-expanded="false" role="button"> <span class="menu__title">Systemic Risk Blog</span> <span class="toggle toggle--thin toggle--down-caret toggle--count-0" > </span> </summary> <div class="menu__list-container"> <ul class="menu__list menu__list--depth-1"> <li class="menu__item menu__item--depth-1" > <a class="menu__link menu__link--depth-1" title="Systemic Risk Blog" href="/centers/program-on-financial-stability/systemic-risk-blog"> <span class="menu__title">Systemic Risk Blog</span> </a> <span class="menu__description">Systemic Risk Blog</span> </li> <li class="menu__item menu__item--depth-1" > <a class="menu__link menu__link--depth-1" title="News" href="/centers/program-on-financial-stability/ypfs-news"> <span class="menu__title">News</span> </a> <span class="menu__description">News from the Yale Program on Financial Stability</span> </li> </ul> </div> </details> </li> <li class="menu__item menu__item--depth-0" > <details class="menu__expand" id="menu-detail-2062910576"> <summary class="menu__expand-button" aria-controls="menu-detail-2062910576" aria-expanded="false" role="button"> <span class="menu__title">Oral History Project</span> <span class="toggle toggle--thin toggle--down-caret toggle--count-0" > </span> </summary> <div class="menu__list-container"> <ul class="menu__list menu__list--depth-1"> <li class="menu__item menu__item--depth-1" > <a class="menu__link menu__link--depth-1" title="Oral History Project" href="/centers/program-on-financial-stability/lessons-learned-oral-history-project"> <span class="menu__title">Oral History Project</span> </a> </li> <li class="menu__item menu__item--depth-1" > <a class="menu__link menu__link--depth-1" title="Lessons Learned FAQs" href="/centers/program-on-financial-stability/lessons-learned-oral-history-project/lessons-learned"> <span class="menu__title">Lessons Learned FAQs</span> </a> </li> </ul> </div> </details> </li> <li class="menu__item menu__item--depth-0" > <a class="menu__link menu__link--depth-0" title="YPFS Systemic Risk Institute" href="/centers/program-financial-stability/ypfs-systemic-risk-institute"> <span class="menu__title">YPFS Systemic Risk Institute</span> </a> </li> <li class="menu__item menu__item--depth-0" > <a class="menu__link menu__link--depth-0" title="Metrick-Schmelzing Paper and Database" href="/centers/program-on-financial-stability/metrick-schmelzing-paper-and-database"> <span class="menu__title">Metrick-Schmelzing Paper and Database</span> </a> </li> </ul> </div> </nav> </div> <div class="site-header__cta"> <div class="site-header__cta-text"> </div> <div class="site-header__cta-link"> <a class="som-link som-link--primary" href="https://subscribe.yale.edu/login?returnURL=https%3A//subscribe.yale.edu/browse%3Farea%3Da0df40000006XkcAAE"> <span class="som-link__text">Sign up to receive email updates to the YPFS Systemic Risk Blog</span> <span class="animated-arrow animated-arrow--right"> </span> </a> </div> </div> </header> <main id="main-content" class="site-main"> <section class="layout--l layout layout--one-column" aria-labelledby="paragraph-heading-1284"> <div class="layout__content"> <div class="layout__regions"> <div class="layout__region layout__region--one"> <div id="paragraph-heading-1284" class="paragraph paragraph--type--heading" > <h2 class="heading heading--thin heading--left heading--light heading--l "> YPFS At A Glance </h2> </div> <section class="layout--l layout--column-50-50 layout layout--two-column "> <div class="layout__content"> <div class="layout__regions"> <div class="layout__region layout__region--one"> <div id="paragraph-heading-47855" class="paragraph paragraph--type--heading" > <h3 class="heading heading--none heading--left heading--light heading--m "> New Bagehot </h3> </div> <div class="text-long"><p>The New Bagehot Project is the central banker’s policy tool for the 21st century: an online platform where financial crisis fighters can explore the key design decisions their predecessors made in interventions around the world and throughout history. The New Bagehot Project was named in honor of Walter Bagehot, author <em>Lombard Street</em> (1873), still considered the seminal text on crisis fighting. Our goal is to expand policymakers’ toolkits, to inform decision makers, and to help construct sound future policy action.</p> </div> <div id="paragraph-button-47856" class="paragraph paragraph--button paragraph--stacked-button"> <a class="som-link som-link--primary som-link--medium" href="https://newbagehot.yale.edu/"> <span class="som-link__text">Visit New Bagehot Homepage</span> <span class="animated-arrow animated-arrow--right"> </span> </a> </div> </div> <div class="layout__region layout__region--two"> <div class="paragraph paragraph--image" data-aspect-ratio=""> <div class="media media--image media--half-scaled" role="group"> <picture> <source srcset="/sites/default/files/styles/scaled_1344_/public/2022-07/nb_resized_big_5.jpg.webp?itok=23ajLSZB 1x, /sites/default/files/styles/scaled_2688_/public/2022-07/nb_resized_big_5.jpg.webp?itok=Pb-8NwZR 2x" media="all and (min-width: 1080px)" type="image/webp" width="140" height="75"/> <source srcset="/sites/default/files/styles/scaled_672_/public/2022-07/nb_resized_big_5.jpg.webp?itok=TDvgr9EN 1x, /sites/default/files/styles/scaled_1344_/public/2022-07/nb_resized_big_5.jpg.webp?itok=23ajLSZB 2x" media="all and (min-width: 768px)" type="image/webp" width="140" height="75"/> <source srcset="/sites/default/files/styles/scaled_420_/public/2022-07/nb_resized_big_5.jpg.webp?itok=ObH5vdaN 1x, /sites/default/files/styles/scaled_840_/public/2022-07/nb_resized_big_5.jpg.webp?itok=sZxINlFB 2x" type="image/webp" width="140" height="75"/> <img src="/sites/default/files/styles/scaled_140_/public/2022-07/nb_resized_big_5.jpg.webp?itok=aM3wArqK" width="140" height="75" alt="NB" loading="lazy" /> </picture> </div> </div> </div> </div> </div> </section> </div> </div> </div> </section> <section class="layout--l layout--bg layout--bg-som-blue layout--column-50-50 layout layout--two-column "> <div class="layout__content"> <div class="layout__regions"> <div class="layout__region layout__region--one"> <div id="paragraph-heading-47721" class="paragraph paragraph--type--heading" > <h3 class="heading heading--none heading--left heading--light heading--m "> Master's Degree in Systemic Risk </h3> </div> <div class="paragraph paragraph--image" data-aspect-ratio=""> <div class="media media--image media--half-scaled" role="group"> <picture> <source srcset="/sites/default/files/styles/scaled_1344_/public/2023-09/2024.jpg.webp?itok=d_MazAbg 1x, /sites/default/files/styles/scaled_2688_/public/2023-09/2024.jpg.webp?itok=eosOj3Nb 2x" media="all and (min-width: 1080px)" type="image/webp" width="140" height="87"/> <source srcset="/sites/default/files/styles/scaled_672_/public/2023-09/2024.jpg.webp?itok=7N-E3OLu 1x, /sites/default/files/styles/scaled_1344_/public/2023-09/2024.jpg.webp?itok=d_MazAbg 2x" media="all and (min-width: 768px)" type="image/webp" width="140" height="87"/> <source srcset="/sites/default/files/styles/scaled_420_/public/2023-09/2024.jpg.webp?itok=gQnXK3O6 1x, /sites/default/files/styles/scaled_840_/public/2023-09/2024.jpg.webp?itok=z8AtDAd2 2x" type="image/webp" width="140" height="87"/> <img src="/sites/default/files/styles/scaled_140_/public/2023-09/2024.jpg.webp?itok=kgssQSGm" width="140" height="87" alt="MMS SR Class of 2024" loading="lazy" /> </picture> </div> </div> <div class="text-long"><p>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.</p> </div> <div id="paragraph-button-47859" class="paragraph paragraph--button paragraph--stacked-button"> <a class="som-link som-link--primary som-link--medium" href="https://som.yale.edu/programs/mms-systemic-risk"> <span class="som-link__text">Learn more about the MMS Progam</span> <span class="animated-arrow animated-arrow--right"> </span> </a> </div> </div> <div class="layout__region layout__region--two"> <div id="paragraph-heading-47723" class="paragraph paragraph--type--heading" > <h3 class="heading heading--none heading--left heading--light heading--m "> Journal of Financial Crises </h3> </div> <div class="paragraph paragraph--image" data-aspect-ratio=""> <div class="media media--image media--half-scaled" role="group"> <picture> <source srcset="/sites/default/files/styles/scaled_1344_/public/2022-07/big_market_resize_1.jpg.webp?itok=RAS7fVzu 1x, /sites/default/files/styles/scaled_2688_/public/2022-07/big_market_resize_1.jpg.webp?itok=L5pK5AIj 2x" media="all and (min-width: 1080px)" type="image/webp" width="140" height="82"/> <source srcset="/sites/default/files/styles/scaled_672_/public/2022-07/big_market_resize_1.jpg.webp?itok=y3dOcs4t 1x, /sites/default/files/styles/scaled_1344_/public/2022-07/big_market_resize_1.jpg.webp?itok=RAS7fVzu 2x" media="all and (min-width: 768px)" type="image/webp" width="140" height="82"/> <source srcset="/sites/default/files/styles/scaled_420_/public/2022-07/big_market_resize_1.jpg.webp?itok=zGlH27-J 1x, /sites/default/files/styles/scaled_840_/public/2022-07/big_market_resize_1.jpg.webp?itok=-h77TPBy 2x" type="image/webp" width="140" height="82"/> <img src="/sites/default/files/styles/scaled_140_/public/2022-07/big_market_resize_1.jpg.webp?itok=FEKgp5Gu" width="140" height="82" alt="Market " loading="lazy" /> </picture> </div> </div> <div class="text-long"><p>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.</p> </div> <div id="paragraph-button-47861" class="paragraph paragraph--button paragraph--stacked-button"> <a class="som-link som-link--primary som-link--medium" href="https://elischolar.library.yale.edu/journal-of-financial-crises/"> <span class="som-link__text">Visit the JFC Homepage</span> <span class="animated-arrow animated-arrow--right"> </span> </a> </div> </div> </div> </div> </section> <section class="layout--l layout layout--one-column" aria-labelledby="paragraph-heading-1309"> <div class="layout__content"> <div class="layout__regions"> <div class="layout__region layout__region--one"> <div id="paragraph-heading-1309" class="paragraph paragraph--type--heading" > <h3 class="heading heading--thin heading--left heading--light heading--m "> Center News </h3> </div> <div id="paragraph-gallery-15560" class="paragraph paragraph--type--gallery paragraph--view-mode--default"> <div class="slick blazy blazy--nojs slick--field slick--field-slide slick--field-slide--default is-b-captioned slick--optionset--default" data-blazy=""><div id="slick-8146633c747" data-slick="{"count":10,"total":10,"rows":0,"mouseWheel":true,"variableWidth":true,"lazyLoad":"blazy"}" class="slick__slider"><div class="slick__slide slide slide--0 slick--image"> <div class="slide__content"> <div class="slide__media"> <div data-b-token="b-799fd5dfd51" class="media media--blazy media--slick media--bundle--image media--image media--responsive"> <picture> <source srcset="/sites/default/files/styles/card_672_/public/2024-05/Joint_Vienna_COnference_5-16-opt3.jpg.webp?itok=LmBy82OG 1x, /sites/default/files/styles/card_1344_/public/2024-05/Joint_Vienna_COnference_5-16-opt3.jpg.webp?itok=ZEhU3uZk 2x" media="all and (min-width: 768px)" type="image/webp" width="672" height="415"/> <source srcset="/sites/default/files/styles/card_420_/public/2024-05/Joint_Vienna_COnference_5-16-opt3.jpg.webp?itok=t_mVAcGs 1x, /sites/default/files/styles/card_800_/public/2024-05/Joint_Vienna_COnference_5-16-opt3.jpg.webp?itok=RgVIYt6- 2x" type="image/webp" width="420" height="260"/> <img decoding="async" class="media__element" src="/sites/default/files/styles/card_140_/public/2024-05/Joint_Vienna_COnference_5-16-opt3.jpg.webp?itok=ssiOBNl0" width="140" height="87" alt="Registration for the “OeNB | SUERF | Joint Vienna Institute | Yale Program on Financial Stability Conference”" loading="lazy" /> </picture> </div> </div> <div class="slide__caption"><h2 class="slide__title"><a href="https://www.oenb-events.at/en/oenb-suerf-joint-vienna-institute-yale-program-on-financial-stability-conference/registration/">Event Registration: OeNB | SUERF | Joint Vienna Institute | Yale Program on Financial Stability Conference</a></h2><div class="slide__description"> <span class="field-byline">Program on Financial Stability </span> <span class="field-date-gallery"><time datetime="2024-05-16T12:00:00Z">May 16, 2024</time> </span> </div></div></div></div><div class="slick__slide slide slide--1 slick--image"> <div class="slide__content"> <div class="slide__media"> <div data-b-token="b-b5dc6f84d6a" class="media media--blazy media--slick media--bundle--image media--image media--responsive"> <picture> <source srcset="/sites/default/files/styles/card_672_/public/2024-05/Paul%20tucker%205.JPG.webp?itok=fPg9HNtX 1x, /sites/default/files/styles/card_1344_/public/2024-05/Paul%20tucker%205.JPG.webp?itok=jsOfN_Dt 2x" media="all and (min-width: 768px)" type="image/webp" width="672" height="415"/> <source srcset="/sites/default/files/styles/card_420_/public/2024-05/Paul%20tucker%205.JPG.webp?itok=iGo4FFts 1x, /sites/default/files/styles/card_800_/public/2024-05/Paul%20tucker%205.JPG.webp?itok=8oAcIb_S 2x" type="image/webp" width="420" height="260"/> <img decoding="async" class="media__element" src="/sites/default/files/styles/card_140_/public/2024-05/Paul%20tucker%205.JPG.webp?itok=3TQrEB3f" width="140" height="87" alt="PTucker" title="Paul tucker 5.JPG" loading="lazy" /> </picture> </div> </div> <div class="slide__caption"><h2 class="slide__title"><a href="https://www.youtube.com/watch?v=zaSvDYp06yc">Paul Tucker/Andrew Metrick: Putting the Lender of Last Resort at the Center of Financial Stability</a></h2><div class="slide__description"> <span class="field-byline">Yale Program on Financial Stability </span> <span class="field-date-gallery"><time datetime="2023-04-03T12:00:00Z">April 3, 2023</time> </span> </div></div></div></div><div class="slick__slide slide slide--2 slick--image"> <div class="slide__content"> <div class="slide__media"> <div data-b-token="b-0d36b39d98b" class="media media--blazy media--slick media--bundle--image media--image media--responsive"> <picture> <source srcset="/sites/default/files/styles/card_672_/public/2023-10/global_discord_0.png.webp?itok=5wt6VW1J 1x, /sites/default/files/styles/card_1344_/public/2023-10/global_discord_0.png.webp?itok=bWpI6ohb 2x" media="all and (min-width: 768px)" type="image/webp" width="672" height="415"/> <source srcset="/sites/default/files/styles/card_420_/public/2023-10/global_discord_0.png.webp?itok=D4GB-Z1s 1x, /sites/default/files/styles/card_800_/public/2023-10/global_discord_0.png.webp?itok=elIexovR 2x" type="image/webp" width="420" height="260"/> <img decoding="async" class="media__element" src="/sites/default/files/styles/card_140_/public/2023-10/global_discord_0.png.webp?itok=FX5oB0Vh" width="140" height="87" alt="gb panel" loading="lazy" /> </picture> </div> </div> <div class="slide__caption"><h2 class="slide__title"><a href="/panel-discussion-economic-and-geopolitical-consequences-global-discord-paul-tucker">A Panel Discussion on the Economic and Geopolitical Consequences of Global Discord with Paul Tucker</a></h2><div class="slide__description"> <span class="field-byline">Yale Program on Financial Stability</span> <span class="field-date-gallery"><time datetime="2023-10-26T12:00:00Z">October 26, 2023</time> </span> </div></div></div></div><div class="slick__slide slide slide--3 slick--image"> <div class="slide__content"> <div class="slide__media"> <div data-b-token="b-54688de7a20" class="media media--blazy media--slick media--bundle--image media--image media--responsive"> <picture> <source srcset="/sites/default/files/styles/card_672_/public/2023-05/svb.PNG.webp?itok=xMer2plE 1x, /sites/default/files/styles/card_1344_/public/2023-05/svb.PNG.webp?itok=8bNmEcC- 2x" media="all and (min-width: 768px)" type="image/webp" width="672" height="415"/> <source srcset="/sites/default/files/styles/card_420_/public/2023-05/svb.PNG.webp?itok=UiYNObnj 1x, /sites/default/files/styles/card_800_/public/2023-05/svb.PNG.webp?itok=1JOJA3TQ 2x" type="image/webp" width="420" height="260"/> <img decoding="async" class="media__element" src="/sites/default/files/styles/card_140_/public/2023-05/svb.PNG.webp?itok=VzL4-ehR" width="140" height="87" alt="svb" title="svb.PNG" loading="lazy" /> </picture> </div> </div> <div class="slide__caption"><h2 class="slide__title"><a href="https://insights.som.yale.edu/insights/virtual-lecture-silicon-valley-bank-and-the-anatomy-of-bank-run?utm_campaign=May%202023%20Insights%20One%20%28SOM%20Community%29&utm_content=Yale%20Insights%3A%20How%20Green%20Investing%20Can%20Encourage%20Pollution&utm_medium=email&utm_source=mailjet">Virtual Lecture: Silicon Valley Bank and the Anatomy of a Bank Run</a></h2><div class="slide__description"> <span class="field-byline">Andrew Metrick</span> <span class="field-date-gallery"><time datetime="2023-05-16T12:00:00Z">May 16, 2023</time> </span> </div></div></div></div><div class="slick__slide slide slide--4 slick--image"> <div class="slide__content"> <div class="slide__media"> <div data-b-token="b-27b21489fea" class="media media--blazy media--slick media--bundle--image media--image media--responsive"> <picture> <source srcset="/sites/default/files/styles/card_672_/public/2022-04/shadowbanking.png.webp?itok=BEI8MKdx 1x, /sites/default/files/styles/card_1344_/public/2022-04/shadowbanking.png.webp?itok=bjqw9ZN6 2x" media="all and (min-width: 768px)" type="image/webp" width="672" height="415"/> <source srcset="/sites/default/files/styles/card_420_/public/2022-04/shadowbanking.png.webp?itok=8Ght14YS 1x, /sites/default/files/styles/card_800_/public/2022-04/shadowbanking.png.webp?itok=pMqO8pyn 2x" type="image/webp" width="420" height="260"/> <img decoding="async" class="media__element" src="/sites/default/files/styles/card_140_/public/2022-04/shadowbanking.png.webp?itok=rxPx7Gb2" width="140" height="87" alt="shadow banking" loading="lazy" /> </picture> </div> </div> <div class="slide__caption"><h2 class="slide__title"><a href="https://insights.som.yale.edu/insights/can-we-reduce-risk-from-the-shadow-banking-system">Can We Reduce Risk from the Shadow Banking System?</a></h2><div class="slide__description"> <span class="field-byline">Program on Financial Stability</span> <span class="field-date-gallery"><time datetime="2022-04-13T12:00:00Z">April 13, 2022</time> </span> </div></div></div></div><div class="slick__slide slide slide--5 slick--image"> <div class="slide__content"> <div class="slide__media"> <div data-b-token="b-6897e2bfa96" class="media media--blazy media--slick media--bundle--image media--image media--responsive"> <picture> <source srcset="/sites/default/files/styles/card_672_/public/2022-04/cdomachingetile_1.jpg.webp?itok=u824LbBM 1x, /sites/default/files/styles/card_1344_/public/2022-04/cdomachingetile_1.jpg.webp?itok=rGGWd33P 2x" media="all and (min-width: 768px)" type="image/webp" width="672" height="415"/> <source srcset="/sites/default/files/styles/card_420_/public/2022-04/cdomachingetile_1.jpg.webp?itok=TLQKaozo 1x, /sites/default/files/styles/card_800_/public/2022-04/cdomachingetile_1.jpg.webp?itok=aCMBn2SA 2x" type="image/webp" width="420" height="260"/> <img decoding="async" class="media__element" src="/sites/default/files/styles/card_140_/public/2022-04/cdomachingetile_1.jpg.webp?itok=wvfdYmGW" width="140" height="87" alt="Wallstreetsign" loading="lazy" /> </picture> </div> </div> <div class="slide__caption"><h2 class="slide__title"><a href="/story/2022/special-project-inside-cdo-machine">A Special Project: Inside the CDO Machine</a></h2><div class="slide__description"> <span class="field-byline">Program on Financial Stability</span> <span class="field-date-gallery"><time datetime="2022-04-08T12:00:00Z">April 8, 2022</time> </span> </div></div></div></div><div class="slick__slide slide slide--6 slick--image"> <div class="slide__content"> <div class="slide__media"> <div data-b-token="b-0225d8d09d5" class="media media--blazy media--slick media--bundle--image media--image media--responsive"> <picture> <source srcset="/sites/default/files/styles/card_672_/public/2021-12/tumultuous_times.jpg.webp?itok=w-yxYB2Y 1x, /sites/default/files/styles/card_1344_/public/2021-12/tumultuous_times.jpg.webp?itok=otvTTqDD 2x" media="all and (min-width: 768px)" type="image/webp" width="672" height="415"/> <source srcset="/sites/default/files/styles/card_420_/public/2021-12/tumultuous_times.jpg.webp?itok=IsS7Mbze 1x, /sites/default/files/styles/card_800_/public/2021-12/tumultuous_times.jpg.webp?itok=dG8LG9KG 2x" type="image/webp" width="420" height="260"/> <img decoding="async" class="media__element" src="/sites/default/files/styles/card_140_/public/2021-12/tumultuous_times.jpg.webp?itok=yMMocrdH" width="140" height="87" alt="Tumultuous Times" loading="lazy" /> </picture> </div> </div> <div class="slide__caption"><h2 class="slide__title"><a href="https://www.youtube.com/watch?v=VtpXmE_7Pfw&t=22s">Tumultuous Times: Central Banking in an Era of Crisis </a></h2><div class="slide__description"> <span class="field-byline">Program on Financial Stability </span> <span class="field-date-gallery"><time datetime="2021-12-14T12:00:00Z">December 14, 2021</time> </span> </div></div></div></div><div class="slick__slide slide slide--7 slick--image"> <div class="slide__content"> <div class="slide__media"> <div data-b-token="b-f8f5c097a0b" class="media media--blazy media--slick media--bundle--image media--image media--responsive"> <picture> <source srcset="/sites/default/files/styles/card_672_/public/2021-12/financial_crisis_forum_2021.jpg.webp?itok=153LZgK0 1x, /sites/default/files/styles/card_1344_/public/2021-12/financial_crisis_forum_2021.jpg.webp?itok=KmVRYHuc 2x" media="all and (min-width: 768px)" type="image/webp" width="672" height="415"/> <source srcset="/sites/default/files/styles/card_420_/public/2021-12/financial_crisis_forum_2021.jpg.webp?itok=A16pM843 1x, /sites/default/files/styles/card_800_/public/2021-12/financial_crisis_forum_2021.jpg.webp?itok=FyM4FFoB 2x" type="image/webp" width="420" height="260"/> <img decoding="async" class="media__element" src="/sites/default/files/styles/card_140_/public/2021-12/financial_crisis_forum_2021.jpg.webp?itok=f0A27KVx" width="140" height="87" alt="The Economic-Policy Response to COVID-19 2021" loading="lazy" /> </picture> </div> </div> <div class="slide__caption"><h2 class="slide__title"><a href="https://www.youtube.com/watch?v=waLXIqeE27E">The Economic-Policy Response to COVID-19 2021</a></h2><div class="slide__description"> <span class="field-byline">Program on Financial Stability </span> <span class="field-date-gallery"><time datetime="2021-08-12T12:00:00Z">August 12, 2021</time> </span> </div></div></div></div><div class="slick__slide slide slide--8 slick--image"> <div class="slide__content"> <div class="slide__media"> <div data-b-token="b-0166b31d4c7" class="media media--blazy media--slick media--bundle--image media--image media--responsive"> <picture> <source srcset="/sites/default/files/styles/card_672_/public/2021-12/covid-2020.jpg.webp?itok=In9zSeWO 1x, /sites/default/files/styles/card_1344_/public/2021-12/covid-2020.jpg.webp?itok=Q-JzNGQ4 2x" media="all and (min-width: 768px)" type="image/webp" width="672" height="415"/> <source srcset="/sites/default/files/styles/card_420_/public/2021-12/covid-2020.jpg.webp?itok=GutIKeSg 1x, /sites/default/files/styles/card_800_/public/2021-12/covid-2020.jpg.webp?itok=qFa7XSKL 2x" type="image/webp" width="420" height="260"/> <img decoding="async" class="media__element" src="/sites/default/files/styles/card_140_/public/2021-12/covid-2020.jpg.webp?itok=A2AVF5dG" width="140" height="87" alt="Response to COVID" loading="lazy" /> </picture> </div> </div> <div class="slide__caption"><h2 class="slide__title"><a href="/event/2020/07/webinar-the-economic-policy-response-to-covid-19-ben-bernanke-agustin-carstens-tharman-shanmugaratnam-and-janet-yellen">The Economic-Policy Response to COVID-19 2020 </a></h2><div class="slide__description"> <span class="field-byline">Program on Financial Stability </span> <span class="field-date-gallery"><time datetime="2021-07-10T12:00:00Z">July 10, 2021</time> </span> </div></div></div></div><div class="slick__slide slide slide--9 slick--image"> <div class="slide__content"> <div class="slide__media"> <div data-b-token="b-7f146adbd9e" class="media media--blazy media--slick media--bundle--image media--image media--responsive"> <picture> <source srcset="/sites/default/files/styles/card_672_/public/2021-12/covid-4-30-2020.jpg.webp?itok=YBV4-JZm 1x, /sites/default/files/styles/card_1344_/public/2021-12/covid-4-30-2020.jpg.webp?itok=3CM4vHLN 2x" media="all and (min-width: 768px)" type="image/webp" width="672" height="415"/> <source srcset="/sites/default/files/styles/card_420_/public/2021-12/covid-4-30-2020.jpg.webp?itok=jnJ5GV3h 1x, /sites/default/files/styles/card_800_/public/2021-12/covid-4-30-2020.jpg.webp?itok=qFsz_srN 2x" type="image/webp" width="420" height="260"/> <img decoding="async" class="media__element" src="/sites/default/files/styles/card_140_/public/2021-12/covid-4-30-2020.jpg.webp?itok=qK2Y9Bt6" width="140" height="87" alt="COVID-19" loading="lazy" /> </picture> </div> </div> <div class="slide__caption"><h2 class="slide__title"><a href="/news/2020/05/ypfs-describes-four-phase-model-of-the-economic-consequences-of-pandemic">YPFS Describes Four-Phase Model of the Economic Consequences of Pandemic</a></h2><div class="slide__description"> <span class="field-byline">Program on Financial Stability </span> <span class="field-date-gallery"><time datetime="2020-05-01T12:00:00Z">May 1, 2020</time> </span> </div></div></div></div></div> <nav class="slick__arrow"> <button type="button" data-role="none" class="slick-prev" aria-label="Previous" tabindex="0"> <span class="slick__arrow-text">Previous</span> <span class="animated-arrow animated-arrow--left"> </span> </button> <button type="button" data-role="none" class="slick-next" aria-label="Next" tabindex="0"> <span class="slick__arrow-text">Next</span> <span class="animated-arrow animated-arrow--right"> </span> </button> </nav> </div> </div> <div id="paragraph-heading-47905" class="paragraph paragraph--type--heading" > <h3 class="heading heading--thin heading--left heading--light heading--m "> The Systemic Risk Blog </h3> </div> <div class="views-element-container"><div class="js-view-dom-id-4048e7efeefc0de9b57ed17ca18fe079149c45bf7f44c9816d2574e7c1c5ce4a"> <section class="layout-parent"> <div class="layout layout--three-column layout--view-grid "> <div class="layout__content"> <div class="layout__regions"> <div id="item-275532" data-js="node-teaser" class="som-row som-row--story som-row--detail som-row--no-hover" > <div class="som-row__content"> <span class="som-row__date"> November 14, 2024 </span> <h3 class="som-row__heading som-row__heading--m "> <a class="som-row__heading-link" href="/story/2024/news-systemic-risk-thursday-november-14-2024-945-am-et"> News in Systemic Risk: Thursday, November 14, 2024 (9:45 a.m. ET) </a> </h3> </div> <div class="som-row__metadata"> </div> </div> <div id="item-275531" data-js="node-teaser" class="som-row som-row--story som-row--detail som-row--no-hover" > <div class="som-row__content"> <span class="som-row__date"> November 13, 2024 </span> <h3 class="som-row__heading som-row__heading--m "> <a class="som-row__heading-link" href="/story/2024/news-systemic-risk-wednesday-november-13-2024-945-am-et"> News in Systemic Risk: Wednesday, November 13, 2024 (9:45 a.m. ET) </a> </h3> </div> <div class="som-row__metadata"> </div> </div> <div id="item-275480" data-js="node-teaser" class="som-row som-row--story som-row--detail som-row--no-hover" > <div class="som-row__content"> <span class="som-row__date"> November 12, 2024 </span> <h3 class="som-row__heading som-row__heading--m "> <a class="som-row__heading-link" href="/story/2024/news-systemic-risk-tuesday-november-12-2024-945-am-et"> News in Systemic Risk: Tuesday, November 12, 2024 (9:45 a.m. ET) </a> </h3> </div> <div class="som-row__metadata"> </div> </div> </div> </div> </div> </section> </div> </div> <div id="paragraph-button-47726" class="paragraph paragraph--button paragraph--stacked-button"> <a class="som-link som-link--continuation som-link--medium" href="https://subscribe.yale.edu/login?returnURL=https%3A//subscribe.yale.edu/browse%3Farea%3Da0df40000006XkcAAE"> <span class="som-link__text">Sign up to receive email updates to the YPFS Systemic Risk Blog</span> <span class="animated-arrow animated-arrow--right"> </span> </a> </div> </div> </div> </div> </section> <div class="layout--l layout layout--one-column"> <div class="layout__content"> <div class="layout__regions"> <div class="layout__region layout__region--one"> <div id="paragraph-library-paragraph-11" class="paragraph paragraph--type--library-paragraph paragraph--view-mode--default"> <section class="layout--l layout layout--one-column" aria-labelledby="paragraph-heading-11376"> <div class="layout__content"> <div class="layout__regions"> <div class="layout__region layout__region--one"> <div id="paragraph-heading-11376" class="paragraph paragraph--type--heading" > <h3 class="heading heading--thick heading--m "> Yale SOM centers and initiatives </h3> </div> </div> </div> </div> </section> <section class="layout--l layout--margin-l layout layout--three-column"> <div class="layout__content"> <div class="layout__regions"> <div class="layout__region layout__region--one"> <div class="text-long"><p><a href="/centers/the-broad-center">The Broad Center</a></p> <p><a href="/centers/center-for-customer-insights">Yale Center for Customer Insights</a></p> <p><a href="/centers/program-on-social-enterprise">Program on Social Enterprise, Innovation, and Impact</a></p> <p><a href="/centers/international-center-for-finance">International Center for Finance</a></p> <p><a href="/centers/program-on-financial-stability">Program on Financial Stability</a></p> </div> </div> <div class="layout__region layout__region--two"> <div class="text text--left "> <div class="text-long"><p><a href="/centers/program-on-entrepreneurship">Program on Entrepreneurship</a></p> <p><a href="/centers/program-stakeholder-innovation-and-management">Program on Stakeholder Innovation and Management</a></p> <p><a href="https://centerbeijing.yale.edu/">Yale Center Beijing</a></p> <p><a href="https://cbey.yale.edu/">Center for Business and the Environment</a></p> <p><a href="/centers/chief-executive-leadership-institute">Chief Executive Leadership Institute</a></p> </div> </div> </div> <div class="layout__region layout__region--three"> <div class="text text--left "> <div class="text-long"><p><a href="/centers/thurman-arnold-project-at-yale">Thurman Arnold Project at Yale</a></p> <p><a href="/centers/china-india-insights-program">China India Insights Program</a></p> <p><a href="/centers/initiative-on-leadership-and-organization">Initiative on Leadership and Organization</a></p> <p><a href="/centers/som-lab">SOM Lab</a></p> <p><a href="https://yrise.yale.edu/">Y-RISE</a></p> </div> </div> </div> </div> </div> </section> </div> </div> </div> </div> </div> <section class="layout--preset-connect-with-us layout--l layout layout--two-column layout--preset-connect-with-us"> <div class="layout__content"> <div class="layout__regions"> <div class="layout__region layout__region--one"> <div class="text-long"><p>Connect with us</p> </div> </div> <div class="layout__region layout__region--two"> <div class="text-long"><p>Twitter</p> <p><a href="https://twitter.com/YPFSatYale">@YPFSatYale</a></p> </div> <div class="text-long"><p>Email</p> <p><a href="mailto:ypfs@yale.edu">ypfs@yale.edu</a></p> </div> </div> </div> </div> </section> </main> <div id="block-customcss" role="complementary" aria-label="Custom CSS" data-region="pre-footer"> <div class="text-long"><style type="text/css"> <![CDATA[/* ><!]]>*/ </style></div> </div> <footer class="site-footer"> <div class="site-footer__container"> <ul class="site-footer__social-menu"> <li class="site-footer__social-item"> <a class="social-link__site-footer" target="_blank" href="https://instagram.com/YaleSOM"> <svg class="icon" > <use xlink:href="/themes/custom/som/dist/icons.svg#instagram"></use> </svg> <span class="visually-hidden">Instagram</span> </a> </li> <li class="site-footer__social-item"> <a class="social-link__site-footer" target="_blank" href="https://www.linkedin.com/school/yale-school-of-management/"> <svg class="icon" > <use xlink:href="/themes/custom/som/dist/icons.svg#linkedin"></use> </svg> <span class="visually-hidden">LinkedIn</span> </a> </li> <li class="site-footer__social-item"> <a class="social-link__site-footer" target="_blank" href="https://www.facebook.com/yalesom"> <svg class="icon" > <use xlink:href="/themes/custom/som/dist/icons.svg#facebook"></use> </svg> <span class="visually-hidden">Facebook</span> </a> </li> <li class="site-footer__social-item"> <a class="social-link__site-footer" target="_blank" href="https://www.youtube.com/yalesom"> <svg class="icon" > <use xlink:href="/themes/custom/som/dist/icons.svg#youtube"></use> </svg> <span class="visually-hidden">YouTube</span> </a> </li> <li class="site-footer__social-item"> <a class="social-link__site-footer" target="_blank" href="https://www.threads.net/@yalesom"> <svg class="icon" > <use xlink:href="/themes/custom/som/dist/icons.svg#threads"></use> </svg> <span class="visually-hidden">Threads</span> </a> </li> </ul> <div class="site-footer__contact"> <p class="site-footer__address"> <strong>Yale School of Management</strong><br/> Edward P. Evans Hall<br/> 165 Whitney Avenue<br/> New Haven, CT 06511-3729 </p> <div class="site-footer__cta-items"> <a class="som-link som-link--continuation som-link--medium" href="/apply"> <span class="som-link__text">Apply Now</span> <span class="animated-arrow animated-arrow--right"> </span> </a> <a class="som-link som-link--continuation som-link--medium" href="/newsletter"> <span class="som-link__text">Get Yale SOM News</span> <span class="animated-arrow animated-arrow--right"> </span> </a> </div> </div> <nav class="site-footer__navigation" aria-labelledby="footernavigation-menu"> <h2 class="visually-hidden" id="footernavigation-menu">Footer navigation</h2> <div id="menu-footer-menu-internal" class="menu menu--footer-menu-internal menu--footer-menu menu--small-menu"> <ul class="menu__list menu__list--depth-0"> <li class="menu__item menu__item--depth-0" > <a class="menu__link menu__link--depth-0" title="Business & Society" href="/the-som-experience/mission"> <span class="menu__title">Business & Society</span> </a> </li> <li class="menu__item menu__item--depth-0" > <a class="menu__link menu__link--depth-0" title="Programs" href="/programs"> <span class="menu__title">Programs</span> </a> </li> <li class="menu__item menu__item--depth-0" > <a class="menu__link menu__link--depth-0" title="Case Studies" href="/case-studies"> <span class="menu__title">Case Studies</span> </a> </li> <li class="menu__item menu__item--depth-0" > <a class="menu__link menu__link--depth-0" title="Giving" href="/about/support-yale-som"> <span class="menu__title">Giving</span> </a> </li> <li class="menu__item menu__item--depth-0" > <a class="menu__link menu__link--depth-0" title="Contact" href="/about/contact"> <span class="menu__title">Contact</span> </a> </li> </ul> </div> <div id="menu-footer-menu-external" class="menu menu--footer-menu-external menu--footer-menu menu--small-menu"> <ul class="menu__list menu__list--depth-0"> <li class="menu__item menu__item--depth-0 menu__item--external" > <a class="menu__link menu__link--depth-0 menu__link--external" title="SOM Directory" rel="external" target="_blank" href="https://directory.som.yale.edu/"> <span class="menu__title">SOM Directory</span> <svg class="icon" role="presentation" > <use xlink:href="/themes/custom/som/dist/icons.svg#arrow-top-right"></use> </svg> </a> </li> <li class="menu__item menu__item--depth-0 menu__item--external" > <a class="menu__link menu__link--depth-0 menu__link--external" title="Alumni Directory" rel="external" target="_blank" href="https://somconnect.yale.edu"> <span class="menu__title">Alumni Directory</span> <svg class="icon" role="presentation" > <use xlink:href="/themes/custom/som/dist/icons.svg#arrow-top-right"></use> </svg> </a> </li> <li class="menu__item menu__item--depth-0 menu__item--external" > <a class="menu__link menu__link--depth-0 menu__link--external" title="Campus Groups" rel="external" target="_blank" href="https://groups.som.yale.edu/home_login"> <span class="menu__title">Campus Groups</span> <svg class="icon" role="presentation" > <use xlink:href="/themes/custom/som/dist/icons.svg#arrow-top-right"></use> </svg> </a> </li> <li class="menu__item menu__item--depth-0 menu__item--external" > <a class="menu__link menu__link--depth-0 menu__link--external" title="Recruiters" rel="external" target="_blank" href="https://som.yale.edu/careers"> <span class="menu__title">Recruiters</span> <svg class="icon" role="presentation" > <use xlink:href="/themes/custom/som/dist/icons.svg#arrow-top-right"></use> </svg> </a> </li> <li class="menu__item menu__item--depth-0 menu__item--external" > <a class="menu__link menu__link--depth-0 menu__link--external" title="Yale Insights" rel="external" target="_blank" href="https://insights.som.yale.edu/"> <span class="menu__title">Yale Insights</span> <svg class="icon" role="presentation" > <use xlink:href="/themes/custom/som/dist/icons.svg#arrow-top-right"></use> </svg> </a> </li> <li class="menu__item menu__item--depth-0 menu__item--external" > <a class="menu__link menu__link--depth-0 menu__link--external" title="The Global Network" rel="external" target="_blank" href="https://globalnetwork.io/"> <span class="menu__title">The Global Network</span> <svg class="icon" role="presentation" > <use xlink:href="/themes/custom/som/dist/icons.svg#arrow-top-right"></use> </svg> </a> </li> </ul> </div> </nav> <div class="site-footer__copyright"> <ul class="site-footer__copyright-menu"> <li class="site-footer__copyright-item"> <a class="copyright-link__site-footer" href="/site-map"> Site Map </a> </li> <li class="site-footer__copyright-item"> <a class="copyright-link__site-footer" href="/terms-of-use"> Terms of Use </a> </li> <li class="site-footer__copyright-item"> <a class="copyright-link__site-footer copyright-link__site-footer--external" rel="external" href="https://www.yale.edu/privacy-policy"> Privacy Policy <svg class="icon" role="presentation" > <use xlink:href="/themes/custom/som/dist/icons.svg#arrow-top-right"></use> </svg> </a> </li> <li class="site-footer__copyright-item"> <a class="copyright-link__site-footer copyright-link__site-footer--external" rel="external" href="https://usability.yale.edu/web-accessibility/accessibility-yale"> Accessibility <svg class="icon" role="presentation" > <use xlink:href="/themes/custom/som/dist/icons.svg#arrow-top-right"></use> </svg> </a> </li> </ul> <p class="site-footer__copyright-notice"> © Copyright 2024 Yale School of Management. All rights reserved. </p> <div class="site-footer__logos"> <a class="logo-link__site-footer" id="footer-logo-yale" rel="external" href="https://www.yale.edu/"> <img src="/themes/custom/som/images/logos/yale_university_logo.svg" loading="lazy" alt="Yale Universityt logo" width="500" height="216.1"> </a> <a class="logo-link__site-footer" id="footer-logo-gn" rel="external" href="https://globalnetwork.io"> <img src="/themes/custom/som/images/logos/gn_logo.svg" loading="lazy" alt="Global Network for Advanced Management logo" width="499.75" height="49.669"> </a> </div> </div> <div class="site-footer__ampersand"> <img src="/themes/custom/som/images/logos/ampersand_business_society.svg" loading="lazy" alt="Educating leaders for business and society" width="326.75" height="224.19"> </div> </div> </footer> <script type="application/json" data-drupal-selector="drupal-settings-json">{"path":{"baseUrl":"\/","scriptPath":null,"pathPrefix":"","currentPath":"taxonomy\/term\/106","currentPathIsAdmin":false,"isFront":false,"currentLanguage":"en"},"pluralDelimiter":"\u0003","suppressDeprecationErrors":true,"slick":{"regionLabel":"carousel","useGroupRole":true,"instructionsText":"","adaptiveHeight":false,"autoplay":false,"useAutoplayToggleButton":true,"pauseOnHover":true,"pauseOnDotsHover":false,"pauseOnFocus":true,"autoplaySpeed":3000,"arrows":true,"arrowsPlacement":"","downArrow":false,"downArrowTarget":"","downArrowOffset":0,"centerMode":false,"centerPadding":"50px","dots":false,"dotsClass":"slick-dots","draggable":true,"fade":false,"focusOnSelect":false,"infinite":true,"initialSlide":0,"lazyLoad":"ondemand","mouseWheel":false,"randomize":false,"rtl":false,"rows":1,"slidesPerRow":1,"slide":"","slidesToShow":1,"slidesToScroll":1,"speed":500,"swipe":true,"swipeToSlide":false,"edgeFriction":0.35,"touchMove":true,"touchThreshold":5,"useCSS":true,"cssEase":"ease","cssEaseBezier":"","cssEaseOverride":"","useTransform":true,"easing":"linear","variableWidth":false,"vertical":false,"verticalSwiping":false,"waitForAnimate":true},"user":{"uid":0,"permissionsHash":"81ad299b12694224a09e34073e699acdb4043e5a74425c36c901ebe53b6ce993"}}</script> <script src="//cdnjs.cloudflare.com/ajax/libs/gsap/3.11.4/gsap.min.js" defer defer></script> <script src="//cdnjs.cloudflare.com/ajax/libs/gsap/3.11.4/ScrollTrigger.min.js" defer defer></script> <script src="/sites/default/files/js/js_CUt7_xK8FpJesOidHE6hEDmKJjE-A4knl_RorZfWzYg.js" defer></script> <script type="text/javascript">window.NREUM||(NREUM={});NREUM.info={"beacon":"bam.nr-data.net","licenseKey":"NRJS-9a9cccb33f0fcc3edf9","applicationID":"978557967","transactionName":"YVJSNRMAVkAHUkZZC1gYcQIVCFddSXVARRRXW2wiDhNdbyNfRlkQT2tzDg8VSlwKXVdCOHNZRAgVGG5aA0ZxXwpCRV8NDQRKHlhHW1UT","queueTime":0,"applicationTime":1612,"atts":"TRVRQ1saRU4=","errorBeacon":"bam.nr-data.net","agent":""}</script></body> </html>