The 2022 Nobel Memorial Prize in Economic Sciences

Princeton University Press is honored to have published two of the three 2022 recipients of The Nobel Memorial Prize in Economic Sciences. Ben S. Bernanke and Douglas W. Diamond, along with Philip H. Dybvig, were awarded this year’s Prize for their analysis of how banks respond to financial crises.

In the press release for the Prize, Tore Ellingsen, Chair of the Committee for the Prize in Economics Sciences notes, “The laureates’ insights have improved our ability to avoid both serious crises and expensive bailouts.” Taken as a whole, their body of research has provided a critical foundation for the real-world regulation of financial markets and events, including during major economic downturns in 2008 and 2020.

Bernanke, former chair of the Federal Reserve and currently a Distinguished Senior Fellow, Economic Studies, at The Brookings Institution, has looked specifically at the Great Depression of the 1930s, revealing how bank runs played a definitive role in deepening and prolonging economic disaster. Princeton University Press is proud to have published Bernanke’s Essays on the Great Depression (2000) and The Federal Reserve and Financial Crises (2015), a history of the Federal Reserve and its response to the 2008 financial crisis. Bernanke is additionally a contributor to Inflation Targeting: Lessons from the International Experience (2001).

Diamond, Merton H. Miller Distinguished Service Professor of Finance at the University of Chicago’s Booth School of Business, was one of several leading economists, including fellow Nobel Laureate Robert J. Shiller, whose work is included in PUP’s The Squam Lake Report: Fixing the Financial System (2010).

The Nobel Memorial Prize in Economic Sciences, officially the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, is administered annually by the Nobel Foundation.