Diamond and Dybvig on banking fragility
Kempf, Hubert
Diamond and Dybvig on banking fragility - 2023.
53
The “Committee for the prize in economics in memory of Alfred Nobel,” financed by the Royal Bank of Sweden, awarded the 2022 prize (commonly known as the “Nobel Prize in Economics”) to Ben Bernanke, Douglas Diamond, and Philip Dybvig for their contribution to the economics of banking. This article focuses on Diamond and Dybvig’s 1983 paper which deals with banking fragility and bank runs. The importance of the matter has grown over time, for both academics and policymakers. The originality of the paper’s modeling and of the solutions offered led to many later contributions and raised important issues, which are covered in this article. The fecundity of the 1983 paper proves that the choice of laureates for the 2022 Nobel Prize in Economics was justified.
Diamond and Dybvig on banking fragility - 2023.
53
The “Committee for the prize in economics in memory of Alfred Nobel,” financed by the Royal Bank of Sweden, awarded the 2022 prize (commonly known as the “Nobel Prize in Economics”) to Ben Bernanke, Douglas Diamond, and Philip Dybvig for their contribution to the economics of banking. This article focuses on Diamond and Dybvig’s 1983 paper which deals with banking fragility and bank runs. The importance of the matter has grown over time, for both academics and policymakers. The originality of the paper’s modeling and of the solutions offered led to many later contributions and raised important issues, which are covered in this article. The fecundity of the 1983 paper proves that the choice of laureates for the 2022 Nobel Prize in Economics was justified.
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