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The laureates explained the central role of banks in financial crises

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  • Committee, Nobel Prize

    (Nobel Prize Committee)

Abstract

The Great Depression of the 1930s paralysed the world’s economies for many years and had vast societal consequences. However, we have managed subsequent financial crises better thanks to research insights from this year’s laureates in the Economic Sciences, Ben Bernanke, Douglas Diamond and Philip Dybvig. They have demonstrated the importance of preventing widespread bank collapses.

Suggested Citation

  • Committee, Nobel Prize, 2022. "The laureates explained the central role of banks in financial crises," Nobel Prize in Economics documents 2022-1, Nobel Prize Committee.
    • Handle: RePEc:ris:nobelp:2022_001
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    More about this item

    Keywords

    Banking; Financial crisis;

    JEL classification:

    • E53 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Deposit Insurance
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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