If you are looking for a comprehensive research paper on this topic, the most recent and authoritative study is:
(2024): Explores why banks use the window outside of crises, noting that smaller banks with illiquid portfolios are the most frequent users. discount window treatment
Stigma surfaced eight months before the 2023 regional banking crisis and has not significantly subsided since. Other Key Research Papers If you are looking for a comprehensive research
(2020): A Richmond Fed Economic Brief that explains how stigma undermines the Fed's role as the "lender of last resort". Quick Definition: The Discount Window Discount Window Stigma After the Global Financial Crisis Quick Definition: The Discount Window Discount Window Stigma
Federal Reserve Bank of New York Staff Report No. 1137 (Revised March 2026) Key Findings:
(2025): Uses laboratory experiments to show that once a facility is stigmatized, it is extremely difficult to "cure" that perception, even with policy changes.
Olivier Armantier, Marco Cipriani, and Asani Sarkar