📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!

    Question

    Nobel Prize in Economic Sciences was awarded to Ben S

    Bernanke, he was the former chair of __________.
    A Bank of China Correct Answer Incorrect Answer
    B Bank of Canada Correct Answer Incorrect Answer
    C US Federal Reserve Correct Answer Incorrect Answer
    D Bank of Brazil Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    Solution

    The Nobel Memorial Prize in Economic Sciences was awarded on Monday to Ben S Bernanke, the former chair of the US Federal Reserve, and two other academics for research into banks and financial crises. Bernanke in 1983 wrote a paper that broke ground in explaining that bank failures can propagate a financial crisis rather than simply being a result of the crisis. That same year, Diamond and Dybvig wrote a paper on the risks inherent in maturity transformation, the process of turning short-term borrowing into long-term lending. Diamond also wrote about how banks monitor their borrowers, noting that knowledge about borrowers disappears upon bank failures, extending the consequences of the upheaval.

    Practice Next
    More Beepedia Questions

    Relevant for Exams:

    ask-question