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Reaction to Nobel Prize for Economics for Bernanke, Diamond and Dybvig for investigating the role of banks during financial crises

The so-called Nobel Prize in Economics 2022 - officially the Bank of Sweden's Alfred Nobel Memorial Prize in Economic Sciences - has been awarded to Ben Bernanke, Douglas Diamond and Philip Dybvig. "They have significantly improved our understanding of the role of banks in the economy, especially during financial crises," the Royal Swedish Academy of Sciences notes.

10/10/2022 - 13:01 CEST
Nobel Economía

From left to right, Ben Bernanke, Douglas Diamond and Philip Dybvig. | Ill. Niklas Elmehed © Nobel Prize Outreach

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Nuria Suárez - Nobel Economía EN

Nuria Suárez

Lecturer in Financial Economics at the Autonomous University of Madrid

Science Media Centre Spain

The research of Bernanke, Diamond and Dybvig in the area of banking economics and, in particular, financial crises has been decisive in defining current banking regulation and the processes for resolving episodes of financial market instability. His studies, related to the role of banking in times of crisis, have enabled regulators to understand the mechanisms by which episodes of banking panics can lead to bank failures, with severe repercussions for economies.

We welcome the award of this prize as it recognises research in the financial field, and in particular in the banking field, which is so necessary in today's economy.

The author has not responded to our request to declare conflicts of interest
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