This year, the Nobel Memorial Prize in Economic Sciences is awarded to three economists from the USA: Ben Bernanke, Douglas Diamond and Philip Dybvig were honored for their research in the field of banking and financial crises. For many of our finance master students, at least two of them are very well-known. In this context, the Royal Swedish Academy of Sciences explicitly refers to the papers of Diamond/Dybvig (1983) and Diamond (1984) because of their long-lasting impact on research and policy. The models of the two papers have been part of the standard program in the Financial Intermediation I module for many years. Prof. Dr. Andreas Pfingsten, Director at the Institute of Banking, is very pleased: "I am thrilled that these two papers of outstanding importance, that we have taught many generations of students, have now received this accolade."

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