ISSN (print) - 0131-7652

ISSN (online) - 2686-7605

Vol. 53 No. 1 (2023)
PINNACLES OF ECONOMIC SCIENSE

Economic Science against Crises. About the 2022 Nobel Prize in Economics

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  • Yu.P. Voronov
Yu.P. Voronov
Institute of Economics and Industrial Engineering, SB RAS; Novosibirsk State University, Novosibirsk
DOI: https://doi.org/10.30680/ECO0131-7652-2023-1-177-192

Published 2022-12-29

Keywords

  • Nobel Prize in Economics; function of banks; financial crisis; defaults; liquidity; monetary multiplier; mortgage credit; government intervention; Federal Reserve System

How to Cite

1.
Voronov Ю. Economic Science against Crises. About the 2022 Nobel Prize in Economics. ECO [Internet]. 2022 Dec. 29 [cited 2025 May 20];53(1):177-92. Available from: https://ecotrends.ru/index.php/eco/article/view/4561

Abstract

The paper examines the results of the research of Nobel Prize in Economics 2022 winners Ben Bernanke, Douglas Diamond and Philip Dibvig. These results are grouped by the author into four centers: the fight against the crisis, the generalized role of banks, the possibility of exiting the world crisis without war and the liquidity model. The measures implemented by one of the laureates in practice during the struggle for reducing the negative consequences of the crisis in 2008 are considered and evaluated. The problem of the fundamental possibility of overcoming the global economic crisis without a war, the possibility of which was substantiated by the laureates, is touched upon. The description of the model of banks’ liquidity, developed by D. Diamond and F. Dybvig is presented. It is widely used in the banking sector for analytical modeling.
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