Nobel Prize in Economics and Recession

It is no coincidence that the 2022 Economic Awards were given to thinkers of crisis and recession.

Ben S. Bernanke (Brookings Institution), Douglas W Diamond (University of Chicago) and Philip H Dybvig (Yale University), together or individually, are able to explain the role of banking in the modern financial crisis. In the closing remarks of the academic paper, the Nobel Committee underlined the warning of Nobel Prize laureates in preparing for the next financial crisis.

And, the warning is especially relevant because we are standing before a dark corridor of a recession that may be deep and long.