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Economists win Nobel prize for showing why banks fail

Ben Bernanke, Philip Dybvig and Douglas Diamond’s work explained how finance greases the wheels of capitalism — and why the system is inherently unstable.
  1. Philip Ball
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Three economists have shared the 2022 Nobel prize in economics for their pivotal theory of how banks work and how they fail.

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doi: https://doi.org/10.1038/d41586-022-03235-0

References

  1. Diamond, D. W. & Dybvig, P. H. J. Polit. Econ. 91, 401–419 (1983).

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  2. Bernanke, B. S. Am. Econ. Rev. 73, 257–276 (1983).

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