Ben S. Bernanke
The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2022
Born: 13 December 1953, Augusta, GA, USA
Affiliation at the time of the award: The Brookings Institution, Washington, D.C., USA
Prize motivation: “for research on banks and financial crises”
Prize share: 1/3
What is the role of banks in the economy and society? What happens if they collapse?
The foundations of modern banking research were laid by Ben Bernanke, Douglas Diamond and Philip Dybvig in the early 1980s. Through statistical analysis and historical source research, Bernanke demonstrated how failing banks played a decisive role in the global depression of the 1930s. Bernanke’s research shows that bank crises can potentially have catastrophic consequences. This insight illustrates the importance of well-functioning bank regulation.
Nobel Prizes and laureates
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