{"id":1681057,"date":"2022-10-10T06:56:09","date_gmt":"2022-10-10T10:56:09","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1681057"},"modified":"2022-10-10T06:57:24","modified_gmt":"2022-10-10T10:57:24","slug":"bernanke-diamond-dybvig-win-nobel-economics-prize-for-financial-crises-studies","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bernanke-diamond-dybvig-win-nobel-economics-prize-for-financial-crises-studies\/","title":{"rendered":"Bernanke, Diamond, Dybvig win Nobel economics prize for financial crises studies"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbernanke-diamond-dybvig-win-nobel-economics-prize-for-financial-crises-studies%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1681057&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>By Simon Johnson and Balazs Koranyi<\/p>\n<p>STOCKHOLM (Reuters) -A trio of U.S. economists including Former Federal Reserve chief Ben Bernanke won this year\u2019s Nobel Economics Prize on Monday for research on how propping up failing banks can stave off an even deeper economic crisis.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\">\n<\/div>\n<p>Bernanke, along with Douglas Diamond and Philip Dybvig won the 2022 price for their work starting in the early 1980s that carried practical importance in regulating financial markets and dealing with financial crises.<\/p>\n<p>\u201cBen Bernanke, Douglas Diamond and Philip Dybvig, have significantly improved our understanding of the role of banks in the economy, particularly during financial crises,\u201d the Royal Swedish Academy of Sciences said on Monday.<\/p>\n<p>\u201cAn important finding in their research is why avoiding bank collapses is vital,\u201d the academy added.<\/p>\n<p>The Academy said that Bernanke showed with statistical analysis that bank runs led to bank failures and this was the mechanism that turned a relatively ordinary recession into the depression in the 30s, the world\u2019s most dramatic, and, severe crisis <\/p>\n<p>Bank runs can easily become self-fulfilling leading to the collapse of an institution and putting the entire financial sector at risk.<\/p>\n<p>\u201cThese dangerous dynamics can be prevented through the government providing deposit insurance and acting as a lender of last resort to banks,\u201d the Academy said.<\/p>\n<p>The trio join such luminaries as Paul Krugman and Milton Friedman, previous winners of the prize.<\/p>\n<p>The majority of previous laureates have been from the United States. <\/p>\n<p>The economics prize is not one of the original five awards created in the 1895 will of industrialist and dynamite inventor Alfred Nobel.<\/p>\n<p>It was established by Sweden\u2019s central bank and first awarded in 1969, its full and formal name being the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel.<\/p>\n<p>Other Nobel prize winners in 2022:<\/p>\n<p>Nobel Prize for Peace- Belarusian human rights activist Ales Byalyatski, Russian human rights organisation Memorial and Ukrainian human rights organisation Center for Civil Liberties <\/p>\n<p>Nobel Prize for Literature\u2013 Annie Ernaux, France <\/p>\n<p>Nobel Prize in Chemistry \u2013 Carolyn Bertozzi, Morten Meldal and Barry Sharpless<\/p>\n<p>Nobel Prize in Physics \u2013 Alain Aspect, John Clauser and Anton Zeilinger for experiments in quantum mechanics <\/p>\n<p>Nobel Prize in Physiology or Medicine \u2013 Swedish geneticist Svante Paabo<\/p>\n<p> (Reporting by Balazs Koranyi, Simon Johnson and Johan Ahlander; Editing by Susan Fenton)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/bernanke-diamond-dybvig-win\/attachment\/nobel-prize-for-economic-sciences\/\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/10\/tagreuters.com2022binary_LYNXMPEI990J7-BASEIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI990J7-BASEIMAGE\" \/><\/a><\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/bernanke-diamond-dybvig-win\/attachment\/nobel-prize-for-economic-sciences-2\/\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/10\/tagreuters.com2022binary_LYNXMPEI990J9-BASEIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI990J9-BASEIMAGE\" \/><\/a><\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/bernanke-diamond-dybvig-win\/attachment\/file-photo-former-federal-reserve-chairman-ben-bernanke-speaks-during\/\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/10\/tagreuters.com2022binary_LYNXMPEI990ID-BASEIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI990ID-BASEIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Simon Johnson and Balazs Koranyi STOCKHOLM (Reuters) -A trio of U.S. economists including Former Federal Reserve chief Ben Bernanke won this year\u2019s Nobel Economics Prize on Monday for research<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1681057","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1681057","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1681057"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1681057\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1681057"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1681057"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1681057"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}