Ben Bernanke shared the economics Nobel for his work on financial crises. : The Indicator from Planet Money Former Fed chair Ben Bernanke and two colleagues were awarded an economics Nobel for research on the role banks play in financial crises — research that's shaped the global financial system.

Bernanke, bank bailouts and the economics Nobel

Bernanke, bank bailouts and the economics Nobel

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Former Fed Chair Ben Bernanke was awarded the 2022 economics Nobel along with two colleagues for his research on financial crises.
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In 1983, Ben Bernanke published a paper on the role banks play in financial crises. In 2008, that research was instrumental in the Fed's controversial decision to bail out major banks. Yesterday, it won Bernanke and two colleagues a prize: The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel.

Today's show: Why that work was considered by the committee, how it influenced Ben Bernanke's response to the financial crisis of 2008, and how it shapes central bank policy today.

Further reading and listening:

Stacey Vanek Smith's interview with Ben Bernanke in 2017 for Planet Money

Ben S. Bernanke – Non-Monetary Effects of the Financial Crisis in the Propagation of the Great Depression

Ben S. Bernanke and Kenneth N. Kuttner – What Explains the Stock Market's Reaction to Federal Reserve Policy?

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