Nobel Prize in Economics Awarded to Ben Bernanke, Douglas Diamond, Philip Dybvig
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Re: Nobel Prize in Economics Awarded to Ben Bernanke, Douglas Diamond, Philip Dybvig
#2[deleted]
Re: Nobel Prize in Economics Awarded to Ben Bernanke, Douglas Diamond, Philip Dybvig
#3I would like to see Taleb's reaction to this.
Re: Nobel Prize in Economics Awarded to Ben Bernanke, Douglas Diamond, Philip Dybvig
#4It's the "Nobel Memorial Prize in Economic Sciences", and it's Bernanke prize for his work before, after or during the crisis?
https://en.wikipedia.org/wiki/Nobel_Memorial_Prize_in_Econom...
"Bernanke Admits Fed Made Mistakes Combating Crisis 10 Years Ago"
"...Former Federal Reserve Chairman Ben Bernanke acknowledged that policy makers made two critical errors fighting the financial crisis a decade ago: They failed to see it coming with such force then underestimated how much economic damage it would cause later..."
- https://www.bloomberg.com/news/articles/2018-09-13/bernanke-...
Re: Nobel Prize in Economics Awarded to Ben Bernanke, Douglas Diamond, Philip Dybvig
#5Please be precise, this prize has nothing to do with the original Nobel prices.
It's the Sveriges Riksbank's (central bank of Sweden) Prize in Economic Sciences in Memory of Alfred Nobel - as the headline of TFA also tells us.
Re: Nobel Prize in Economics Awarded to Ben Bernanke, Douglas Diamond, Philip Dybvig
#6I would like to see Taleb's reaction to this.
Something tells me you will.
Re: Nobel Prize in Economics Awarded to Ben Bernanke, Douglas Diamond, Philip Dybvig
#7It's the "Nobel Memorial Prize in Economic Sciences", and it's Bernanke prize for his work before, after or during the crisis? https://en.wikipedia.org/wiki/Nobel_Memorial_Prize_in_Econom... "Bernanke Admits Fed Made Mistakes Combating Crisis 10 Years Ago" "...Former Federal Reserve Chairman Ben Bernanke acknowledged that policy makers made two critical errors fighting the financial crisis a decade ago: They failed t…
https://www.nobelprize.org/prizes/economic-sciences/2022/pop...
Bernanke’s research shows that bank crises can potentially have catastrophic consequences. This insight illustrates the importance of well-functioning bank regulation, and was also the reasoning behind crucial elements of economic policy during the financial crisis of 2008–2009. At this time, Bernanke was head of the US central bank, the Federal Reserve, and was able to put knowledge from research into policy. Later, when the pandemic hit in 2020, significant measures were taken to avoid a global financial crisis. The laureates’ insights have played an important role in ensuring these latter crises did not develop into new depressions with devastating consequences for society.
Re: Nobel Prize in Economics Awarded to Ben Bernanke, Douglas Diamond, Philip Dybvig
#8It's the "Nobel Memorial Prize in Economic Sciences", and it's Bernanke prize for his work before, after or during the crisis? https://en.wikipedia.org/wiki/Nobel_Memorial_Prize_in_Econom... "Bernanke Admits Fed Made Mistakes Combating Crisis 10 Years Ago" "...Former Federal Reserve Chairman Ben Bernanke acknowledged that policy makers made two critical errors fighting the financial crisis a decade ago: They failed t…
I wish they called it Economic Social Sciences, to distinguish it from, ehm, sciences.
Re: Nobel Prize in Economics Awarded to Ben Bernanke, Douglas Diamond, Philip Dybvig
#9You can feel however you feel about Bernanke during his tenure as Fed Chair. He was certainly hard to like at times, perhaps sometimes too smug. But his work laying out the pernicious effects of deflationary feedback loops as as an academic is probably one of the most influential works of monetary economics out there.
I suggest people actually reading his papers before making a knee jerk reaction.
Re: Nobel Prize in Economics Awarded to Ben Bernanke, Douglas Diamond, Philip Dybvig
#10Please be precise, this prize has nothing to do with the original Nobel prices. It's the Sveriges Riksbank's (central bank of Sweden) Prize in Economic Sciences in Memory of Alfred Nobel - as the headline of TFA also tells us.
Semantics… even the Associated Press calls it the Nobel Prize in Economics:
> STOCKHOLM (AP) — This year’s Nobel Prize in economic sciences has been awarded to the former chair of the U.S. Federal Reserve, Ben S. Bernanke, and two U.S.-based economists, Douglas W. Diamond and Philip H. Dybvig, “for research on banks and financial crises
https://apnews.com/article/nobel-economy-bernanke-2bb3eaee67...