Dear NBER Board Members, Researchers, and Staff -
Please join me in congratulating former research associate Ben
Bernanke, current research associate Douglas Diamond, and Philip Dybvig
who were awarded the 2022 Nobel Memorial Prize in Economic Sciences
today "for research on banks and financial crises." The Royal Swedish
Academy of Sciences, in announcing the prize, explained that "Modern
banking research clarifies why we have banks, how to make them less
vulnerable in crises, and how bank collapses exacerbate financial
crises. [The laureates'] ... analyses have been of great practical
importance in regulating financial markets and dealing with financial
crises." The research carried out by these three scholars has provided
a framework for studying a wide range of financial intermediaries.
The Academy released both a high-level summary of the laureates'
contributions:
https://www.nobelprize.org/uploads/2022/10/popular-economicsciencesprize2022.pdf
and a longer account of their work:
https://www.nobelprize.org/uploads/2022/10/advanced-economicsciencesprize2022.pdf
Bernanke is a Distinguished Senior Fellow in the Economic Studies
Program at the Brookings Institution. He was an NBER affiliate of the
Economic Fluctuations and Growth and Monetary Economics programs for
more than two decades when he was a faculty member at Stanford and
Princeton, and he served as the director of the NBER Monetary Economics
program. Diamond is the Merton H. Miller Distinguished Service
Professor of Finance at the University of Chicago Booth School of
Business, and a research associate in the NBER Corporate Finance
program. Dybvig is the Boatman's Bancshares Professor of Banking and
Finance at Washington University in St. Louis.
All best wishes.
Jim Poterba
Received on Mon Oct 10 2022 - 08:15:10 EDT
