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21Diamond and Dybvig and the Panic of 1907
My last post argued that, despite what Diamond and Dybvig’s famous theory suggests, bank runs have seldom proven fatal to otherwise sound...
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31Diamond, Dybvig, and Government Deposit Insurance
The 2022 Nobel Prize in Economics is to be shared by Ben S. Bernanke, Douglas W. Diamond, and Philip H. Dybvig, “for...
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42Bank and Crypto Runs: F(ac)TX vs Fiction
On October 10th, Douglas Diamond and Philip Dybvig won the Sveriges Riksbank Prize in Economic Sciences, sharing it with Ben Bernanke “for...
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69The New Deal and Recovery, Part 21: Happy Days
By the start of 1948, there could no longer be any doubt: the Great Depression wasn’t coming back. Instead of collapsing at...
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68Stop Lionizing Paul Volcker and Villainizing Arthur Burns
In a recent Bloomberg column, former New York Fed President Bill Dudley echoes a conventional Fed narrative, contrasting Fed interest rate cycles...
