In the Media

Washington Post reporter David Lynch highlights the work of Ben S. Bernanke PhD ’79, one of the recipients of this year’s Nobel Prize in economic sciences, who was honored for his research on the role banks play during financial turmoil. “Bernanke demonstrated that bank failures — rather than resulting from the downturn — were responsible for making it so deep and so long. When banks collapsed, valuable information about borrowers disappeared, making it difficult for new institutions to channel savings to productive investments,” notes Lynch.