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The practical impact of Bernanke's Nobel-prize research? It's why economists think U.S. might escape with a mild recession this time

Por: MarketWatch Politics October 10, 2022

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In their work, Bernanke, Douglas Diamond and Philip Dybvig examined the causes of the Great Depression, finding that it wasn’t simply due to a stock-market crash, as had become the conventional wisdom. They found that there were “a series of accelerants” that deepened the economic catastrophe, notably a wholesale failure of banks, said Carl Tannenbaum, chief economist at Northern Trust. The practical expression of this work has had a... + full article



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