“I think this year’s economics prize is fantastic”, says CeMoF director Per Krusell.

Per is also a member of the prize committee (he is its secretary) and a member of the Royal Academy of Sciences, which awards the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel.

- The laureates' research has been seminal in several ways – with Bernanke discovering how banks were central to the downward spiral that made the Great Depression in the 1930s so severe and Diamond and Dybvig building our modern theory of banking – and is extremely important for policymakers. It helps us face and combat new financial crises when they appear, as they likely will.

Per also points out that the key research contributions were parts of the dissertations of the laureates.

- We hope they will be role models for our CeMoF students: set the goals high!, and says that he is looking forward to participating in the course covering banking theory next spring. 

Click on below links to watch the announcement as well as an interview about the awarded research with IIES Professor, Economics prize committee member and CeMoF board member John Hassler.

Economics Prize announcement

Interview about awarded work