<p>This paper examines the role of financial risks in shaping the dynamics of business cycles within a macroeconomic IS-LM model. The main objective of this research is to show how changes in financial markets influence gross product, capital and interest rates. This, in turn, impacts the stability and regularity of economic cycles. To answer this question, we analyze the existence and uniqueness of system solutions, the presence of an economic equilibrium and both local and global stability. Analytical studies, supported by numerical simulations that provide visual insight into how financial risks affect the economy. Our results show that adding financial risks alters adjustment mechanisms: volatile periods produce larger fluctuations in gross product and capital, while stable financial periods lead to rapid convergence toward equilibrium. These findings underscore the importance of incorporating financial risks into business cycle analysis to deepen understanding of real financial market interactions and to guide the development of effective economic policies.</p>