Professor Douglas Diamond has a very impressive list of titles and accomplishments, including being a distinguished Professor of Finance at the University of Chicago’s Booth School of Business. But when he got a call early Monday, he couldn't quite believe his new achievement.
It was not a prank, so Diamond was soon posing for pictures and doing interviews to talk about his win.Diamond won alongside former Federal Reserve Chair Ben Bernanke and another economist, Philip H. Dybvig. The Nobel panel at the Royal Swedish Academy of Sciences in Stockholm said the trio’s research had shown "why avoiding bank collapses is vital."
With markets again causing anxiety, during high inflation and rising interest rates, the work remains relevant. Diamond says today's financial system is "much, much less vulnerable" because of memories of the 2000s collapse and improved regulation.
Source: Education Headlines (educationheadlines.net)
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